Pearl Group Holdings (No. 2) Limited
Registered name: PEARL GROUP HOLDINGS (NO. 2) LIMITED
Part of Standard Life PLC groupPearl Group Holdings (No. 2) Limited made £972m revenue and a £1bn loss in the year to 31 Dec 2023.
Pearl Group Holdings (No. 2) Limited’s revenue grew 493% to £972m in the year to 31 Dec 2023, with a loss of £1bn. The company is classified under “activities of financial services holding companies” and is based in Birmingham; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- Birmingham
- Age
- 21 yrs · since 2004
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 31 Dec 2022 | 31 Dec 2023 |
|---|---|---|
| Disclosure | Full P&L | Full P&L |
| Profit & loss | ||
| Revenue (turnover) | £164m | £972m |
| Operating profit | −£42.6m | −£2bn |
| Profit before tax | −£77.5m | −£1.1bn |
| Profit after tax | −£62.2m | −£1bn |
| Profit (best available) | −£62.2m | −£1bn |
| Employees (average) | — | — |
| Ratios | ||
| Profit margin | −37.9% | −106.5% |
| Growth (year on year) | ||
| Revenue growth | — | ▲492.9% |
| Balance sheet — indirect signals, not revenue | ||
| Net assets | — | — |
| Source | Accounts · bulk data Oct 2024 | Accounts · bulk data Oct 2025 |
How the business works
- Profit margin
- −106.5%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- 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
- —
- Now —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Standard Life PLCultimate parent75–100%
- Phoenix Life Holdings Limited75–100%
- Pearl Group Holdings (No. 2) Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (9)
- Pearl (Covent Garden) LimitedFigures not disclosed
- Pearl (Moor House) LimitedFigures not disclosed
- Pearl Assurance Group Holdings LimitedFigures not disclosed
- Pearl Group Services LimitedFigures not disclosed
- Pearl MP Birmingham LimitedFigures not disclosed
- PGS 2 LimitedFigures not disclosed
- Phoenix Group Management LtdFigures not disclosed
- Phoenix Life Assurance LimitedFigures not disclosed
- SL (NO.1) LimitedFigures not disclosed
Sister companies (5)
- Abbey Life Assurance Company LimitedFigures not disclosed
- Abbey Life Trustee Services LimitedFigures not disclosed
- Impala Holdings LimitedFigures not disclosed
- Phoenix Group Holdings LimitedFigures not disclosed
- Phoenix Real Estate Management GP LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2023 (profit −£1bn), from the Companies House accounts bulk data published Oct 2025. Spotted an error? Request a correction.
Updated from Companies House on 20 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.