How much does Third Millennium Systems Limited make?

Third Millennium Systems Limited reported revenue of £4m and £939k profit in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does Third Millennium Systems Limited have?

Third Millennium Systems Limited reported an average of 23 employees in the year to 31 Dec 2025.

Is Third Millennium Systems Limited profitable?

Yes — Third Millennium Systems Limited reported a profit of £939k in the year to 31 Dec 2025.

Company No. 03199053 · Incorporated 15 May 1996

Third Millennium Systems Limited

Registered name: THIRD MILLENNIUM SYSTEMS LIMITED

Part of Assa Abloy Ab group

Third Millennium Systems Limited made £4m revenue and £939k profit in the year to 31 Dec 2025.

Third Millennium Systems Limited’s revenue was £4m in the year to 31 Dec 2025, with £939k profit and 23 employees. The company is classified under “business and domestic software development” and is based in Cardiff; we hold 4 years of its filed accounts.

Full P&L filedSection J · Information and communicationSIC 62012Business and domestic software development

Status: Active
Location: Cardiff, Wales
Age: 30 yrs · since 1996
Type: Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently. From the filing: “The company is a wholly owned subsidiary of HID Corporation Limited, a company incorporated in the United Kingdom. This company is itself a subsidiary of Assa Abloy Limited,incorporated in the United ”

Latest accounts · year to 31 Dec 2025

Key figures

Capital-light

Revenue

£4m

Growth —

Profit

£939k

Growth —

Profit margin

23.4%

Gross 63.8%

Employees

Change —

Profit / employee

£40.8k

Revenue/employee £175k

Profitable streak

4yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Mar 2023	31 Mar 2024	31 Mar 2025	31 Dec 2025
Disclosure	Profit only	Profit only	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	—	—	£4.6m	£4m
Cost of sales	—	—	£1.8m	£1.5m
Gross profit	—	—	£2.7m	£2.6m
Operating profit	—	—	£224k	£1.1m
Profit before tax	£1.9m	£1.4m	£277k	£1.2m
Profit after tax	—	—	£173k	£939k
Profit (best available)	£1.9m	£1.4m	£173k	£939k
Employees (average)	17	22	21	23
Ratios
Profit margin	—	—	3.8%	23.4%
Gross margin	—	—	59.8%	63.8%
Revenue per employee	—	—	£218k	£175k
Profit per employee	£110k	£63.2k	£8.2k	£40.8k
Growth (year on year)
Profit growth	—	▼25.7%	▼87.6%	—
Headcount growth	—	▲29.4%	▼4.5%	—
Balance sheet — indirect signals, not revenue
Cash at bank	£2m	£2.6m	£864k	£5m
Net assets	£4m	£4.8m	£4.6m	£5.6m
Fixed assets	£1.1m	£1.1m	£19.9k	£7.4k
Current assets	£4.1m	£4.7m	£5.1m	£6m
Debtors	£847k	£1.2m	£770k	£329k
Source	FullAccounts · bulk data Jun 2024	FullAccounts · bulk data Jun 2024	FullAccounts · bulk data Dec 2025	FullAccounts · bulk data Jun 2026

Derived from the latest filing

How the business works

Profit margin: 23.4%; Profit ÷ revenue.
Gross margin: 63.8%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £175k; Revenue ÷ average employees.
Profit per employee: £40.8k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.2%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 8.2%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: —; Now £5.6m
Cash at bank: —; Now £5m
Headcount: —; Now 23
Deferred income: —; Now —
Fixed assets: —; Now £7.4k

Corporate ownership

Group structure

Ownership chain

Assa Abloy Ab (registered outside the UK register)ultimate parent75–100%
Hid Corporation Limited75–100%
Third Millennium Systems Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (2)

Access LimitedRev. £15.5m · Profit £1.1m
Technology Solutions (UK) LimitedRev. £3.5m · Profit £239k

From the Persons with Significant Control register (corporate controllers only).

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £939k), from the Companies House accounts bulk data published Jun 2026. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.