The Change Group London Limited
Registered name: THE CHANGE GROUP LONDON LIMITED
Part of The Change Group International PLC groupThe Change Group London Limited made £28m revenue and £596k profit in the year to 31 Dec 2025.
The Change Group London Limited’s revenue fell 1% to £28m in the year to 31 Dec 2025, with £596k profit and 205 employees. The company is classified under “financial intermediation not elsewhere classified” and is based in London; we hold 5 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 14 yrs · since 2012
- 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 Dec 2021 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||||
| Revenue (turnover) | £1.2m | £15.6m | £26.1m | £28.4m | £28m |
| Cost of sales | £42 | £303k | £1.2m | £1.5m | £1.3m |
| Gross profit | £1.2m | £15.3m | £24.9m | £26.9m | £26.7m |
| Operating profit | −£929k | £3m | £3.3m | −£2.2m | £1.4m |
| Profit before tax | −£934k | £2.9m | £3m | −£2.5m | £1.2m |
| Profit after tax | −£821k | £2.3m | £2.4m | −£2.3m | £596k |
| Profit (best available) | −£821k | £2.3m | £2.4m | −£2.3m | £596k |
| Staff costs | £392k | £1.9m | £4.8m | £6.6m | £6.4m |
| Employees (average) | 17 | 67 | 169 | 225 | 205 |
| Ratios | |||||
| Profit margin | −67.3% | 14.5% | 9.1% | −8.1% | 2.1% |
| Gross margin | 100% | 98.1% | 95.5% | 94.8% | 95.3% |
| Revenue per employee | £71.7k | £233k | £154k | £126k | £137k |
| Profit per employee | −£48.3k | £33.8k | £14k | −£10.2k | £2.9k |
| Growth (year on year) | |||||
| Revenue growth | — | ▲1182% | ▲67% | ▲8.7% | ▼1.3% |
| Profit growth | — | — | ▲4.5% | ▼196.8% | — |
| Headcount growth | — | ▲294.1% | ▲152.2% | ▲33.1% | ▼8.9% |
| Balance sheet — indirect signals, not revenue | |||||
| Cash at bank | £806k | £6.2m | £10.5m | £8.4m | £8.9m |
| Net assets | £40.7k | £2.3m | £4.7m | £2.4m | £3m |
| Fixed assets | £273k | £813k | £3.6m | £4.1m | £3.2m |
| Current assets | £1.4m | £8.1m | £12.2m | £11.1m | £13.5m |
| Debtors | £576k | £1.9m | £1.7m | £2.7m | £4.4m |
| Deferred income | £117k | £677k | £1.3m | £2.1m | £1.4m |
| Source | Accounts · bulk data Apr 2024 | Accounts · bulk data Apr 2024 | FullAccounts · bulk data Dec 2024 | FullAccounts · bulk data Dec 2025 | FullAccounts · bulk data Jun 2026 |
How the business works
- Profit margin
- 2.1%
- Profit ÷ revenue.
- Gross margin
- 95.3%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £137k
- Revenue ÷ average employees.
- Profit per employee
- £2.9k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 11.4%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 5.1%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 15.8%
- 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
- ▲25%
- Now £3m
- Cash at bank
- ▲6%
- Now £8.9m
- Headcount
- ▼9%
- Now 205
- Deferred income
- ▼32%
- Now £1.4m
- Fixed assets
- ▼23%
- Now £3.2m
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- The Change Group International PLCultimate parent75–100%
- The Change Group London Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (2)
- The Change Group Corporation LimitedRev. £5.2m · Profit £82.3k
- Changegroup Atms LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £596k), from the Companies House accounts bulk data published Jun 2026. 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.