Sphere Projects Ltd
Registered name: SPHERE PROJECTS LTD
Part of Sphere Projects Ltd groupSphere Projects Ltd made £40m revenue and £511k profit in the year to 31 Mar 2025. read from filing text
Sphere Projects Ltd’s revenue grew 7% to £40m in the year to 31 Mar 2025, with £511k profit and 49 employees. The company is classified under “activities of other holding companies” and is based in Cardiff; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Cardiff, Wales
- Age
- 15 yrs · since 2010
- 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.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|---|
| Disclosure | Full P&Lread from filing text | Full P&Lread from filing text | Full P&Lread from filing text | Full P&Lread from filing text |
| Profit & loss | ||||
| Revenue (turnover) | £28.5m | £31.3m | £37.3m | £40m |
| Cost of sales | £24.1m | £26.4m | £31.8m | £34.4m |
| Gross profit | £4.5m | £4.9m | £5.5m | £5.6m |
| Operating profit | £938k | £1.1m | £752k | £827k |
| Profit before tax | £935k | £1m | £625k | £655k |
| Profit after tax | £920k | £799k | £423k | £511k |
| Profit (best available) | £920k | £799k | £423k | £511k |
| Employees (average) | 41 | 39 | 46 | 49 |
| Ratios | ||||
| Profit margin | 3.2% | 2.5% | 1.1% | 1.3% |
| Gross margin | 15.6% | 15.6% | 14.8% | 14.1% |
| Revenue per employee | £696k | £803k | £811k | £817k |
| Profit per employee | £22.4k | £20.5k | £9.2k | £10.4k |
| Growth (year on year) | ||||
| Revenue growth | — | ▲9.8% | ▲19.1% | ▲7.4% |
| Profit growth | — | ▼13.1% | ▼47.1% | ▲20.8% |
| Headcount growth | — | ▼4.9% | ▲17.9% | ▲6.5% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £125k | £140k | £73k | £49.3k |
| Net assets | £568k | £570k | £371k | £365k |
| Fixed assets | £2 | £2 | £2 | £2 |
| Current assets | £569k | £576k | £371k | £370k |
| Debtors | £0 | £0 | £0 | £0 |
| Source | FullAccounts · bulk data Dec 2023 | FullAccounts · bulk data Dec 2023 | Accounts · bulk data Dec 2024 | FullAccounts · bulk data Dec 2025 |
How the business works
- Profit margin
- 1.3%
- Profit ÷ revenue.
- Gross margin
- 14.1%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £817k
- Revenue ÷ average employees.
- Profit per employee
- £10.4k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 0%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 0%
- 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
- ▼2%
- Now £365k
- Cash at bank
- ▼33%
- Now £49.3k
- Headcount
- ▲7%
- Now 49
- Deferred income
- —
- Now —
- Fixed assets
- 0%
- Now £2
Group structure
Ownership chain
- Sphere Projects Ltdultimate parent75–100%
- Sphere Solutions Limited75–100%
- Sphere Solutions Eot Trustee Limited75–100%
- Sphere Projects Ltdthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Sphere Solutions LimitedRev. £40m · Profit £516k
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Mar 2025 (profit £511k), from the Companies House accounts bulk data published Dec 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.