How much does Tower Hamlets Homes Limited make?

Tower Hamlets Homes Limited reported revenue of £43.5m and a loss of £3.8m in the year to 31 Mar 2023, according to its accounts filed at Companies House.

How many employees does Tower Hamlets Homes Limited have?

Tower Hamlets Homes Limited reported an average of 526 employees in the year to 31 Mar 2023.

Is Tower Hamlets Homes Limited profitable?

No — Tower Hamlets Homes Limited reported a loss of £3.8m in the year to 31 Mar 2023.

Company No. 06249790 · Incorporated 16 May 2007

Tower Hamlets Homes Limited

Registered name: TOWER HAMLETS HOMES LIMITED

Part of London Borough Tower Hamlets group

Tower Hamlets Homes Limited made £43.5m revenue and a £3.8m loss in the year to 31 Mar 2023.

Tower Hamlets Homes Limited’s revenue grew 14% to £43.5m in the year to 31 Mar 2023, with a loss of £3.8m and 526 employees. The company is classified under “management of real estate on a fee or contract basis” and is based in London; we hold 2 years of its filed accounts.

Full P&L filedSection L · Real estate activitiesSIC 68320Management of real estate on a fee or contract basis

Status: Liquidation
Location: London, London
Age: 19 yrs · since 2007
Type: PRI/LTD BY GUAR/NSC (Private, limited by guarantee, no share capital)

Non-profit. It is limited by guarantee (typically an association, club or management company), so it isn't run for profit. 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. From the filing: “Tower Hamlets”

Latest accounts · year to 31 Mar 2023

Key figures

Capital-lightDoing more with lessCash flow filed

Revenue

£43.5m

Growth ▲13.5%

Profit

−£3.8m

Growth —

Profit margin

−8.8%

Employees

526

Change ▼2.9%

Profit / employee

−£7.3k

Revenue/employee £82.8k

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.

2 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Mar 2022	31 Mar 2023
Disclosure	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£38.4m	£43.5m
Profit before tax	−£6m	−£3.8m
Profit (best available)	−£6m	−£3.8m
Staff costs	£26.3m	£27m
Employees (average)	542	526
Ratios
Profit margin	−15.6%	−8.8%
Revenue per employee	£70.8k	£82.8k
Profit per employee	−£11k	−£7.3k
Growth (year on year)
Revenue growth	—	▲13.5%
Headcount growth	—	▼2.9%
Balance sheet — indirect signals, not revenue
Cash at bank	£8.2m	£7.5m
Net assets	£3.9m	£4.2m
Fixed assets	£386k	£87.7k
Current assets	£8.5m	£7.9m
Debtors	£361k	£340k
Cash from operations	£155k	−£676k
Source	Accounts · bulk data Dec 2023	Accounts · bulk data Dec 2023

Derived from the latest filing

How the business works

Profit margin: −8.8%; Profit ÷ revenue.
Gross margin: —; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £82.8k; Revenue ÷ average employees.
Profit per employee: −£7.3k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.2%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 0.8%; 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: ▲7%; Now £4.2m
Cash at bank: ▼8%; Now £7.5m
Headcount: ▼3%; Now 526
Deferred income: —; Now —
Fixed assets: ▼77%; Now £87.7k

Corporate ownership

Group structure

Ownership chain

London Borough Tower Hamlets (registered outside the UK register)ultimate parent75–100%
Tower Hamlets Homes Limitedthis company

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

Minority corporate shareholders

The London Borough Of Tower Hamlets (registered outside the UK register)

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 Mar 2023 (profit −£3.8m), from the Companies House accounts bulk data published Dec 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.