How much does Truespeed Communications Ltd make?

Truespeed Communications Ltd reported revenue of £11.6m and a loss of £27.6m in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does Truespeed Communications Ltd have?

Truespeed Communications Ltd reported an average of 130 employees in the year to 31 Dec 2025.

Is Truespeed Communications Ltd profitable?

No — Truespeed Communications Ltd reported a loss of £27.6m in the year to 31 Dec 2025.

Company No. 09187893 · Incorporated 28 Aug 2014

Truespeed Communications Ltd

Registered name: TRUESPEED COMMUNICATIONS LTD

Part of Aviva PLC group

Truespeed Communications Ltd made £11.6m revenue and a £27.6m loss in the year to 31 Dec 2025. read from filing text

Truespeed Communications Ltd’s revenue grew 25% to £11.6m in the year to 31 Dec 2025, with a loss of £27.6m and 130 employees. The company is classified under “other telecommunications activities” and is based in Bath; we hold 4 years of its filed accounts.

Full P&L filedSection J · Information and communicationSIC 61900Other telecommunications activities

Status: Active
Location: Bath, South West
Age: 12 yrs · since 2014
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. From the filing: “The company's immediate parent company is Truespeed Communications Group Limited, a company registered in England and Wales.”

Latest accounts · year to 31 Dec 2025

Key figures

Doing more with less

Revenue

£11.6m

Growth ▲25.3%

Profit

−£27.6m

Growth —

Profit margin

−237.3%

Gross 93.2%

Employees

130

Change ▼1.5%

Profit / employee

−£212k

Revenue/employee £89.3k

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.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2022	31 Dec 2023	31 Dec 2024	31 Dec 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)	£5.4m	£6.6m	£9.3m	£11.6m
Cost of sales	£741k	£949k	£793k	£795k
Gross profit	£4.7m	£5.7m	£8.5m	£10.8m
Operating profit	−£8.9m	−£12.9m	−£10.4m	−£10.3m
Profit before tax	−£17.6m	−£25.7m	−£25m	−£27.6m
Profit after tax	−£17.6m	−£25.7m	−£25m	−£27.6m
Profit (best available)	−£17.6m	−£25.7m	−£25m	−£27.6m
Staff costs	£5.7m	£7.3m	£6m	£9.6m
Employees (average)	176	220	132	130
Ratios
Profit margin	−326.6%	−388.6%	−270%	−237.3%
Gross margin	86.3%	85.7%	91.5%	93.2%
Revenue per employee	£30.7k	£30.1k	£70.2k	£89.3k
Profit per employee	−£100k	−£117k	−£190k	−£212k
Growth (year on year)
Revenue growth	—	▲22.8%	▲39.9%	▲25.3%
Headcount growth	—	▲25%	▼40%	▼1.5%
Balance sheet — indirect signals, not revenue
Cash at bank	£2.5m	£1.7m	£2.1m	£1.1m
Net assets	−£59.2m	−£84.9m	−£110m	−£136m
Fixed assets	£60.4m	£83m	£80.1m	£80m
Current assets	£3.5m	£3m	£6.2m	£5.1m
Debtors	£63k	£110k	£56.1k	£18.1k
Deferred income	£2.2m	£11.8m	£25.9m	£2.9m
Cash from operations	—	£12.2m	£2m	—
Source	FullAccounts · bulk data Aug 2024	FullAccounts · bulk data Aug 2024	FullAccounts · bulk data Jun 2025	FullAccounts · bulk data Jul 2026

Derived from the latest filing

How the business works

Profit margin: −237.3%; Profit ÷ revenue.
Gross margin: 93.2%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £89.3k; Revenue ÷ average employees.
Profit per employee: −£212k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 688.6%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 25.2%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 0.2%; 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 −£136m
Cash at bank: ▼50%; Now £1.1m
Headcount: ▼2%; Now 130
Deferred income: ▼89%; Now £2.9m
Fixed assets: ▼0%; Now £80m

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

Aviva PLCultimate parent75–100%
Aviva Group Holdings Limited75–100%
Aviva Investors Holdings Limited75–100%
Aviva Investors Real Estate Limited75–100%
Aviva Investors Infrastructure GP Limited50–75%
Aviva Investors Infrastructure Income No.6a1 Limited50–75%
Aviva Investors Infrastructure Income NO.6 Limited75–100%
Truespeed Holdings Limited75–100%
Truespeed Communications Group Limited50–75%
Freedom Holdco 2 Limited75–100%
Truespeed Communications Ltdthis company

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

Subsidiaries (1)

Truespeed LtdFigures not disclosed

Sister companies (2)

County Broadband LtdRev. £6.7m · Profit −£28.4m
Freedom Fibre LimitedFigures not disclosed

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 FullAccounts for the year to 31 Dec 2025 (profit −£27.6m), from the Companies House accounts bulk data published Jul 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.