How much does Global Currency Exchange Network Limited make?

Global Currency Exchange Network Limited reported revenue of £59.5m and a loss of £6.4m in the year to 31 Oct 2024, according to its accounts filed at Companies House.

How many employees does Global Currency Exchange Network Limited have?

Global Currency Exchange Network Limited reported an average of 78 employees in the year to 31 Oct 2024.

Is Global Currency Exchange Network Limited profitable?

No — Global Currency Exchange Network Limited reported a loss of £6.4m in the year to 31 Oct 2024.

Company No. 04675786 · Incorporated 24 Feb 2003

Global Currency Exchange Network Limited

Registered name: GLOBAL CURRENCY EXCHANGE NETWORK LIMITED

Part of Valiant FX Topco Limited group

Global Currency Exchange Network Limited made £59.5m revenue and a £6.4m loss in the year to 31 Oct 2024. read from filing text

Global Currency Exchange Network Limited’s revenue was £59.5m in the year to 31 Oct 2024, with a loss of £6.4m and 78 employees. The company is classified under “other business support service activities” and is based in London; we hold 3 years of its filed accounts.

Full P&L filedSection N · Administrative and support servicesSIC 82990Other business support service activities n.e.c.

Status: Active
Location: London, London
Age: 23 yrs · since 2003
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 immediate parent undertaking is GC Partners Group Limited, a company incorporated in England and Wales.”

Latest accounts · year to 31 Oct 2024

Key figures

Capital-lightCash flow filed

Revenue

£59.5m

Growth —

Profit

−£6.4m

Growth —

Profit margin

−10.8%

Gross 30.9%

Employees

Change —

Profit / employee

−£82.6k

Revenue/employee £763k

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 2022	30 Apr 2023	31 Oct 2024
Disclosure	Full P&Lread from filing text	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£24.8m	£40.4m	£59.5m
Cost of sales	£13.8m	£23.5m	£41.1m
Gross profit	£10.9m	£16.9m	£18.4m
Operating profit	−£340k	£2m	−£10.2m
Profit before tax	−£340k	£2.8m	−£7m
Profit after tax	−£295k	£2.2m	−£6.4m
Profit (best available)	−£295k	£2.2m	−£6.4m
Staff costs	£5.9m	£8.1m	£11.8m
Employees (average)	60	67	78
Ratios
Profit margin	−1.2%	5.3%	−10.8%
Gross margin	44.2%	41.9%	30.9%
Revenue per employee	£413k	£603k	£763k
Profit per employee	−£4.9k	£32.2k	−£82.6k
Cash conversion	—	−2412%	—
Growth (year on year)
Revenue growth	—	▲63.1%	—
Headcount growth	—	▲11.7%	—
Balance sheet — indirect signals, not revenue
Cash at bank	£83.5m	£130m	£122m
Net assets	£495k	£184k	£5.9m
Fixed assets	£982k	£893k	£995k
Current assets	£89.5m	£138m	£133m
Debtors	£6m	£8.3m	£11.3m
Deferred income	—	£1.4m	£5.5m
Cash from operations	−£27.8m	−£48.6m	£21.2m
Source	FullAccounts · bulk data Jul 2024	FullAccounts · bulk data Jul 2024	FullAccounts · bulk data Oct 2025

Derived from the latest filing

How the business works

Profit margin: −10.8%; Profit ÷ revenue.
Gross margin: 30.9%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £763k; Revenue ÷ average employees.
Profit per employee: −£82.6k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 1.7%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 9.2%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 19.1%; 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 £5.9m
Cash at bank: —; Now £122m
Headcount: —; Now 78
Deferred income: —; Now £5.5m
Fixed assets: —; Now £995k

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Valiant FX Topco Limitedultimate parent75–100%
Valiant FX Holdco Limited75–100%
Valiant FX Midco Limited75–100%
Valiant FX Bidco Limited75–100%
GC Partners Group Limited75–100%
Global Currency Exchange Network Limitedthis company

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

Sister companies (1)

Global Custodial Services LtdRev. £704 · Profit −£23.9k

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 Oct 2024 (profit −£6.4m), from the Companies House accounts bulk data published Oct 2025. 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.