How much does Photo Paper Direct Limited make?

Photo Paper Direct Limited reported revenue of £5.6m and a loss of £88.6k in the year to 30 Apr 2025, according to its accounts filed at Companies House.

How many employees does Photo Paper Direct Limited have?

Photo Paper Direct Limited reported an average of 10 employees in the year to 30 Apr 2025.

Is Photo Paper Direct Limited profitable?

No — Photo Paper Direct Limited reported a loss of £88.6k in the year to 30 Apr 2025.

Company No. 04581446 · Incorporated 5 Nov 2002

Photo Paper Direct Limited

Registered name: PHOTO PAPER DIRECT LIMITED

Part of Truweo, Llc group

Photo Paper Direct Limited made £5.6m revenue and a £88.6k loss in the year to 30 Apr 2025.

Photo Paper Direct Limited’s revenue fell 20% to £5.6m in the year to 30 Apr 2025, with a loss of £88.6k and 10 employees. The company is classified under “retail sale via mail order houses or via internet” and is based in Watford; we hold 3 years of its filed accounts.

Full P&L filedSection G · Wholesale and retail trade; repair of motor vehiclesSIC 47910Retail sale via mail order houses or via Internet

Status: Active
Location: Watford, East of England
Age: 23 yrs · since 2002
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: “Truweo LLC”

Latest accounts · year to 30 Apr 2025

Key figures

Capital-lightCash flow filed

Revenue

£5.6m

Growth ▼20.4%

Profit

−£88.6k

Growth ▼234.2%

Profit margin

−1.6%

Gross 9.8%

Employees

Change ▼9.1%

Profit / employee

−£8.9k

Revenue/employee £564k

Profitable streak

0yrs

Consecutive profitable years in our data

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

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to	30 Apr 2023	30 Apr 2024	30 Apr 2025
Disclosure	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£9.1m	£7.1m	£5.6m
Cost of sales	£7.4m	£6.3m	£5.1m
Gross profit	£1.7m	£801k	£551k
Operating profit	£1.3m	£94.5k	−£98.8k
Profit before tax	£1.3m	£78.4k	−£112k
Profit after tax	£1m	£66k	−£88.6k
Profit (best available)	£1m	£66k	−£88.6k
Staff costs	£683k	£660k	£525k
Employees (average)	12	11	10
Ratios
Profit margin	11.4%	0.9%	−1.6%
Gross margin	18.7%	11.3%	9.8%
Revenue per employee	£759k	£645k	£564k
Profit per employee	£86.8k	£6k	−£8.9k
Cash conversion	60.7%	−1196%	—
Growth (year on year)
Revenue growth	—	▼22.1%	▼20.4%
Profit growth	—	▼93.7%	▼234.2%
Headcount growth	—	▼8.3%	▼9.1%
Balance sheet — indirect signals, not revenue
Cash at bank	£2.3m	£3m	£2.5m
Net assets	£4.9m	£5m	£4.9m
Fixed assets	£474k	£440k	£423k
Current assets	£5.8m	£5.7m	£5.3m
Debtors	£183k	£195k	£103k
Deferred income	£408k	£423k	—
Cash from operations	£805k	−£1.1m	£414k
Source	FullAccounts · bulk data Jan 2025	FullAccounts · bulk data Jan 2025	FullAccounts · bulk data Mar 2026

Derived from the latest filing

How the business works

Profit margin: −1.6%; Profit ÷ revenue.
Gross margin: 9.8%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £564k; Revenue ÷ average employees.
Profit per employee: −£8.9k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 7.5%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 1.8%; 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: ▼2%; Now £4.9m
Cash at bank: ▼15%; Now £2.5m
Headcount: ▼9%; Now 10
Deferred income: —; Now —
Fixed assets: ▼4%; Now £423k

Corporate ownership

Group structure

Ownership chain

Truweo, Llc (registered outside the UK register)ultimate parent75–100%
Photo Paper Direct 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).

Same industry, similar size

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 30 Apr 2025 (profit −£88.6k), from the Companies House accounts bulk data published Mar 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.