How much does Mpaas Ltd make?

Mpaas Ltd reported revenue of £23.5m and a loss of £5.8m in the year to 31 Oct 2025, according to its accounts filed at Companies House.

How many employees does Mpaas Ltd have?

Mpaas Ltd reported an average of 272 employees in the year to 31 Oct 2025.

Is Mpaas Ltd profitable?

No — Mpaas Ltd reported a loss of £5.8m in the year to 31 Oct 2025.

Company No. 09820522 · Incorporated 12 Oct 2015

Mpaas Ltd

Registered name: MPAAS LTD

Mpaas Ltd made £23.5m revenue and a £5.8m loss in the year to 31 Oct 2025. read from filing text

Mpaas Ltd’s revenue grew 11% to £23.5m in the year to 31 Oct 2025, with a loss of £5.8m and 272 employees. The company is classified under “other service activities” and is based in London; we hold 3 years of its filed accounts.

Full P&L filedSection S · Other service activitiesSIC 96090Other service activities n.e.c.

Status: Active
Location: London, London
Age: 11 yrs · since 2015
Type: Private Limited Company

Latest accounts · year to 31 Oct 2025

Key figures

IndependentDoing more with lessCash flow filed

Revenue

£23.5m

Growth ▲11.5%

Profit

−£5.8m

Growth —

Profit margin

−24.8%

Gross 71.3%

Employees

272

Change ▼13.7%

Profit / employee

−£21.4k

Revenue/employee £86.3k

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.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Oct 2023	31 Oct 2024	31 Oct 2025
Disclosure	Full P&Lread from filing text	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£12.1m	£21.1m	£23.5m
Cost of sales	£2.7m	£3.8m	£6.7m
Gross profit	£9.4m	£17.3m	£16.7m
Operating profit	−£5.4m	−£4.3m	−£4.1m
Profit before tax	−£5.9m	−£5.7m	−£5.8m
Profit after tax	−£5.9m	−£5.7m	−£5.8m
Profit (best available)	−£5.9m	−£5.7m	−£5.8m
Staff costs	£9m	£13.2m	£12.7m
Employees (average)	229	315	272
Ratios
Profit margin	−48.8%	−27.3%	−24.8%
Gross margin	77.6%	82%	71.3%
Revenue per employee	£52.8k	£66.8k	£86.3k
Profit per employee	−£25.8k	−£18.2k	−£21.4k
Growth (year on year)
Revenue growth	—	▲74.2%	▲11.5%
Headcount growth	—	▲37.5%	▼13.7%
Balance sheet — indirect signals, not revenue
Cash at bank	£92.9k	£169k	£36k
Net assets	−£10.5m	−£16.3m	−£22.1m
Fixed assets	£372k	£4.3m	£3.3m
Current assets	£2.8m	£2.2m	£2.5m
Debtors	£1.1m	£0	£318k
Deferred income	£458k	£272k	£744k
Cash from operations	£3.8m	£1.5m	£274k
Source	FullAccounts · bulk data Jan 2026	FullAccounts · bulk data Jan 2026	FullAccounts · bulk data Jul 2026

Derived from the latest filing

How the business works

Profit margin: −24.8%; Profit ÷ revenue.
Gross margin: 71.3%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £86.3k; Revenue ÷ average employees.
Profit per employee: −£21.4k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 14%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 3.2%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 1.4%; 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 −£22.1m
Cash at bank: ▼79%; Now £36k
Headcount: ▼14%; Now 272
Deferred income: ▲174%; Now £744k
Fixed assets: ▼24%; Now £3.3m

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

Subsidiaries (1)

Fulmar Services LimitedFigures not disclosed

Minority corporate shareholders

Gamechanger Investments Ltd 25–50%

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 Oct 2025 (profit −£5.8m), 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.