Challenge-TRG Recruitment Limited
Registered name: CHALLENGE-TRG RECRUITMENT LIMITED
Part of Challenge Group Holdings Limited groupChallenge-TRG Recruitment Limited made £416m revenue and a £1.5m loss in the year to 31 Mar 2024.
Challenge-TRG Recruitment Limited’s revenue grew 80% to £416m in the year to 31 Mar 2024, with a loss of £1.5m and 14,922 employees. The company is classified under “temporary employment agency activities” and is based in Manchester; we hold 3 years of its filed accounts.
- Status
- In Administration
- Location
- Manchester, North West
- Age
- 26 yrs · since 2000
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
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.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £89.6m | £231m | £416m |
| Cost of sales | £83.1m | £211m | −£390m |
| Gross profit | £6.5m | £20m | £26.2m |
| Operating profit | £1.9m | £2m | £3.3m |
| Profit before tax | £1.4m | £226k | −£2.2m |
| Profit after tax | £1.5m | £91.1k | −£1.5m |
| Profit (best available) | £1.5m | £91.1k | −£1.5m |
| Staff costs | £67m | £181m | — |
| Employees (average) | 2,757 | 4,290 | 14,922 |
| Ratios | |||
| Profit margin | 1.7% | 0% | −0.4% |
| Gross margin | 7.3% | 8.7% | 6.3% |
| Revenue per employee | £32.5k | £53.8k | £27.9k |
| Profit per employee | £562 | £21 | −£101 |
| Growth (year on year) | |||
| Revenue growth | — | ▲157.4% | ▲80.5% |
| Profit growth | — | ▼94.1% | ▼1755% |
| Headcount growth | — | ▲55.6% | ▲247.8% |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £1.5m | £838k | — |
| Net assets | £6.6m | £3.9m | — |
| Fixed assets | £156k | £6.4m | — |
| Current assets | £21.9m | £81.6m | — |
| Debtors | £6.3m | £55.7m | — |
| Deferred income | £2.9m | £8.2m | — |
| Source | Accounts · bulk data Dec 2023 | Accounts · bulk data Dec 2023 | Accounts · bulk data Dec 2024 |
How the business works
- Profit margin
- −0.4%
- Profit ÷ revenue.
- Gross margin
- 6.3%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £27.9k
- Revenue ÷ average employees.
- Profit per employee
- −£101
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
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 —
- Cash at bank
- —
- Now —
- Headcount
- ▲248%
- Now 14,922
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Challenge Group Holdings Limitedultimate parent75–100%
- Challenge Group (Eot) Limited75–100%
- Challenge Group Holdings Limited75–100%
- Challenge Recruitment Group Limited75–100%
- Acrown Limited75–100%
- Challenge-TRG Recruitment Limitedthis company
Bands show the share of ownership each company holds in the one below it.
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Mar 2024 (profit −£1.5m), from the Companies House accounts bulk data published Dec 2024. Spotted an error? Request a correction.
Updated from Companies House on 19 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.