Etl Holdings (UK) Ltd
Registered name: ETL HOLDINGS (UK) LTD
Part of Etl International Ag groupEtl Holdings (UK) Ltd made £27.3m revenue and £6m profit in the year to 31 Dec 2025.
Etl Holdings (UK) Ltd’s revenue grew 14% to £27.3m in the year to 31 Dec 2025, with £6m profit and 249 employees. The company is classified under “tax consultancy” and is based in Bolton; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Bolton, North West
- 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. From the filing: “ETL international AG”
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 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 |
| Profit & loss | ||||
| Revenue (turnover) | £16.9m | £20.4m | £24m | £27.3m |
| Cost of sales | £461k | £655k | £1.2m | £2.1m |
| Gross profit | £16.5m | £19.7m | £22.8m | £25.1m |
| Operating profit | −£536k | £154k | −£1.1m | −£1.2m |
| Profit before tax | £9.8m | £7.5m | £8.3m | £7.5m |
| Profit after tax | £8m | £6.6m | £6.8m | £6m |
| Profit (best available) | £8m | £6.6m | £6.8m | £6m |
| Staff costs | £11.7m | £14m | £16.6m | £17.8m |
| Employees (average) | 211 | 232 | 249 | 249 |
| Ratios | ||||
| Profit margin | 47.3% | 32.6% | 28.2% | 21.9% |
| Gross margin | 97.3% | 96.8% | 94.9% | 92.2% |
| Revenue per employee | £80.3k | £87.7k | £96.3k | £109k |
| Profit per employee | £37.9k | £28.6k | £27.2k | £24k |
| Cash conversion | — | 3721% | — | — |
| Growth (year on year) | ||||
| Revenue growth | — | ▲20.1% | ▲17.9% | ▲13.7% |
| Profit growth | — | ▼17.2% | ▲2.1% | ▼11.8% |
| Headcount growth | — | ▲10% | ▲7.3% | 0% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £6.4m | £2.1m | £5.2m | £9.3m |
| Net assets | £15m | £21.6m | £28.4m | £34.4m |
| Fixed assets | £53.5m | £58.4m | £58.6m | £62m |
| Current assets | £29.9m | £32.7m | £40.1m | £47.5m |
| Debtors | £758 | £624 | £158 | £1.7k |
| Cash from operations | −£15.6m | £5.7m | £13.8m | −£4m |
| Source | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Sep 2025 | FullAccounts · bulk data Sep 2026 |
How the business works
- Profit margin
- 21.9%
- Profit ÷ revenue.
- Gross margin
- 92.2%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £109k
- Revenue ÷ average employees.
- Profit per employee
- £24k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 227.5%
- 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
- ▲21%
- Now £34.4m
- Cash at bank
- ▲78%
- Now £9.3m
- Headcount
- 0%
- Now 249
- Deferred income
- —
- Now —
- Fixed assets
- ▲6%
- Now £62m
Group structure
Ownership chain
- Etl International Ag (registered outside the UK register)ultimate parent75–100%
- Etl Holdings (UK) Ltdthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (13)
- Glaisyers Solicitors LLPRev. £7.7m · Profit £726k
- Aj Chambers Recruitment LtdFigures not disclosed
- Ekw Group LimitedFigures not disclosed
- Etl Corporate Solutions LLPFigures not disclosed
- Etl Group LimitedFigures not disclosed
- Etl Holdco LtdFigures not disclosed
- Etl IT LimitedFigures not disclosed
- Etl Lex Holdings LimitedFigures not disclosed
- Hrpeople Services LimitedFigures not disclosed
- Innventory LimitedFigures not disclosed
- Naylor Accountancy Group LimitedFigures not disclosed
- Payepeople LimitedFigures not disclosed
- Wealth Recovery Solicitors LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £6m), from the Companies House accounts bulk data published Sep 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.