Second State Pizza Company Limited
Registered name: SECOND STATE PIZZA COMPANY LIMITED
Part of Bansols Beta Limited groupSecond State Pizza Company Limited made £15.7m revenue and £400k profit in the year to 28 Dec 2025.
Second State Pizza Company Limited’s revenue fell 3% to £15.7m in the year to 28 Dec 2025, with £400k profit and 371 employees. The company is classified under “take-away food shops and mobile food stands” and is based in Banbury; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Banbury
- Age
- 23 yrs · since 2003
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 29 Dec 2023 | 28 Dec 2024 | 29 Dec 2024 | 28 Dec 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £16.6m | £16.2m | £16.2m | £15.7m |
| Cost of sales | −£13.3m | −£12.5m | −£12.5m | −£12.3m |
| Gross profit | £3.3m | £3.7m | £3.7m | £3.4m |
| Operating profit | £8.5k | £736k | £736k | £563k |
| Profit before tax | £11.3k | £751k | £751k | £574k |
| Profit after tax | −£23.4k | £532k | £532k | £400k |
| Profit (best available) | −£23.4k | £532k | £532k | £400k |
| Employees (average) | 437 | 417 | 417 | 371 |
| Ratios | ||||
| Profit margin | −0.1% | 3.3% | 3.3% | 2.5% |
| Gross margin | 20.1% | 22.8% | 22.8% | 21.6% |
| Revenue per employee | £38.1k | £38.8k | £38.8k | £42.4k |
| Profit per employee | −£54 | £1.3k | £1.3k | £1.1k |
| Growth (year on year) | ||||
| Revenue growth | — | ▼2.9% | — | ▼2.8% |
| Profit growth | — | — | — | ▼24.9% |
| Headcount growth | — | ▼4.6% | — | ▼11% |
| Balance sheet — indirect signals, not revenue | ||||
| Net assets | — | — | — | — |
| Source | Accounts · bulk data Oct 2025 | Accounts · bulk data Sep 2026 | Accounts · bulk data Oct 2025 | Accounts · bulk data Sep 2026 |
How the business works
- Profit margin
- 2.5%
- Profit ÷ revenue.
- Gross margin
- 21.6%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £42.4k
- Revenue ÷ average employees.
- Profit per employee
- £1.1k
- 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
- ▼11%
- Now 371
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Bansols Beta Limitedultimate parent75–100%
- MSG Sandhurst Limited75–100%
- Second State Pizza Company Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (1)
- BGK Ventures LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 28 Dec 2025 (profit £400k), from the Companies House accounts bulk data published Sep 2026. 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.