How much does Velocity1 Limited make?

Velocity1 Limited reported revenue of £2m and £2.4m profit in the year to 31 Dec 2022, according to its accounts filed at Companies House.

How many employees does Velocity1 Limited have?

Velocity1 Limited reported an average of 17 employees in the year to 31 Dec 2022.

Is Velocity1 Limited profitable?

Yes — Velocity1 Limited reported a profit of £2.4m in the year to 31 Dec 2022.

Company No. 06240919 · Incorporated 9 May 2007

Velocity1 Limited

Registered name: VELOCITY1 LIMITED

Part of Project Hawk Topco Ltd group

Velocity1 Limited made £2m revenue and £2.4m profit in the year to 31 Dec 2022.

Velocity1 Limited’s revenue fell 36% to £2m in the year to 31 Dec 2022, with £2.4m profit and 17 employees. The company is classified under “other telecommunications activities” and is based in Birmingham; we hold 3 years of its filed accounts.

Full P&L filedSection J · Information and communicationSIC 61900Other telecommunications activities

Status: Active
Location: Birmingham, West Midlands
Age: 19 yrs · since 2007
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.

Latest accounts · year to 31 Dec 2022

Key figures

Capital-light

Revenue

£2m

Growth ▼36.4%

Profit

£2.4m

Growth ▲617.2%

Profit margin

117.7%

Gross 51.2%

Employees

Change ▼41.4%

Profit / employee

£139k

Revenue/employee £118k

Profitable streak

2yrs

Consecutive profitable years in our data

Unusual figures. Profit is higher than revenue in this filing. That usually means investment income, dividends from subsidiaries or one-off gains — or a mis-tagged figure. Check the original filing before drawing conclusions.

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	31 Dec 2020	31 Dec 2021	31 Dec 2022
Disclosure	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£3.2m	£3.2m	£2m
Cost of sales	£1.6m	£1.9m	£977k
Gross profit	£1.6m	£1.3m	£1m
Operating profit	−£418k	−£1.4m	£2.4m
Profit before tax	−£418k	−£1.4m	£2.4m
Profit after tax	−£240k	£329k	£2.4m
Profit (best available)	−£240k	£329k	£2.4m
Employees (average)	24	29	17
Ratios
Profit margin	−7.5%	10.4%	117.7%
Gross margin	50.8%	40.6%	51.2%
Revenue per employee	£134k	£109k	£118k
Profit per employee	−£10k	£11.3k	£139k
Growth (year on year)
Revenue growth	—	▼1.8%	▼36.4%
Profit growth	—	—	▲617.2%
Headcount growth	—	▲20.8%	▼41.4%
Balance sheet — indirect signals, not revenue
Cash at bank	£25.4k	£66.4k	£7.6k
Net assets	−£450k	−£121k	£2.2m
Fixed assets	£296k	£213k	£193k
Current assets	£1.1m	£2.9m	£2.5m
Debtors	£368k	£253k	£205k
Deferred income	£422k	£306k	£296k
Source	Accounts · bulk data Oct 2023	Accounts · bulk data Oct 2023	Accounts · bulk data Oct 2023

Derived from the latest filing

How the business works

Profit margin: 117.7%; Profit ÷ revenue.
Gross margin: 51.2%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £118k; Revenue ÷ average employees.
Profit per employee: £139k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 9.6%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 14.8%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 10.2%; 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 £2.2m
Cash at bank: ▼88%; Now £7.6k
Headcount: ▼41%; Now 17
Deferred income: ▼3%; Now £296k
Fixed assets: ▼10%; Now £193k

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

Project Hawk Topco Ltd (registered outside the UK register)ultimate parent75–100%
Hawk Bidco Limited75–100%
Gibson Midco Ltd75–100%
Glide Student & Residential Limited75–100%
Velocity1 Limitedthis company

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

Sister companies (3)

Glide 2 LimitedFigures not disclosed
Glide Business LimitedFigures not disclosed
Glide Fibre LimitedFigures not disclosed

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 accounts for the year to 31 Dec 2022 (profit £2.4m), from the Companies House accounts bulk data published Oct 2023. 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.