How much does Innovate Awarding Ltd make?

Innovate Awarding Ltd reported revenue of £12m and £1.5m profit in the year to 31 Jul 2023, according to its accounts filed at Companies House.

How many employees does Innovate Awarding Ltd have?

Innovate Awarding Ltd reported an average of 168 employees in the year to 31 Jul 2023.

Is Innovate Awarding Ltd profitable?

Yes — Innovate Awarding Ltd reported a profit of £1.5m in the year to 31 Jul 2023.

Company No. 07212507 · Incorporated 6 Apr 2010

Innovate Awarding Ltd

Registered name: INNOVATE AWARDING LTD

Part of Clareant Training Holdings Limited group

Innovate Awarding Ltd made £12m revenue and £1.5m profit in the year to 31 Jul 2023.

Innovate Awarding Ltd’s revenue was £12m in the year to 31 Jul 2023, with £1.5m profit and 168 employees. The company is classified under “educational support services” and is based in Bristol; we hold 2 years of its filed accounts.

Full P&L filedSection P · EducationSIC 85600Educational support services

Status: Active
Location: Bristol, South West
Age: 16 yrs · since 2010
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.

Latest accounts · year to 31 Jul 2023

Key figures

Capital-light

Revenue

£12m

Growth —

Profit

£1.5m

Growth —

Profit margin

12.9%

Gross 95%

Employees

168

Change —

Profit / employee

£9.2k

Revenue/employee £71.3k

Profitable streak

2yrs

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 Jan 2022	31 Jul 2023
Disclosure	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£11.4m	£12m
Cost of sales	£937k	£603k
Gross profit	£10.5m	£11.4m
Operating profit	£3.2m	£1.5m
Profit before tax	£3.2m	£1.5m
Profit after tax	£3.2m	£1.5m
Profit (best available)	£3.2m	£1.5m
Staff costs	£5.8m	£7.9m
Employees (average)	111	168
Ratios
Profit margin	28.1%	12.9%
Gross margin	91.8%	95%
Revenue per employee	£103k	£71.3k
Profit per employee	£28.9k	£9.2k
Balance sheet — indirect signals, not revenue
Cash at bank	£1.5m	£430k
Net assets	£14.4m	£15.9m
Fixed assets	£339k	£267k
Current assets	£15.3m	£17.7m
Debtors	£378k	£507k
Deferred income	£741k	£1.1m
Source	Accounts · bulk data Jul 2024	Accounts · bulk data Jul 2024

Derived from the latest filing

How the business works

Profit margin: 12.9%; Profit ÷ revenue.
Gross margin: 95%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £71.3k; Revenue ÷ average employees.
Profit per employee: £9.2k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 2.2%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 8.9%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 4.2%; 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 £15.9m
Cash at bank: —; Now £430k
Headcount: —; Now 168
Deferred income: —; Now £1.1m
Fixed assets: —; Now £267k

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

Clareant Training Holdings Limitedultimate parent75–100%
MTH Midco 2 Limited75–100%
MTH Bidco Limited75–100%
LVTG Holdings Limited75–100%
LVTG Limited75–100%
Lifetime Training Group Limited75–100%
Innovate Awarding Ltdthis company

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

Sister companies (4)

Lifetime Health & Fitness LimitedFigures not disclosed
Lifetime Training LimitedFigures not disclosed
Rapido Training LimitedFigures not disclosed
The IT Skills Management Company LimitedRev. — · Profit £1.1m

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 Jul 2023 (profit £1.5m), from the Companies House accounts bulk data published Jul 2024. 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.