How much does Thaddaeus Ropac Gallery Limited make?

Thaddaeus Ropac Gallery Limited reported revenue of £34.7m and £1.7m profit in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does Thaddaeus Ropac Gallery Limited have?

Thaddaeus Ropac Gallery Limited reported an average of 25 employees in the year to 31 Dec 2025.

Is Thaddaeus Ropac Gallery Limited profitable?

Yes — Thaddaeus Ropac Gallery Limited reported a profit of £1.7m in the year to 31 Dec 2025.

Company No. 09937994 · Incorporated 6 Jan 2016

Thaddaeus Ropac Gallery Limited

Registered name: THADDAEUS ROPAC GALLERY LIMITED

Thaddaeus Ropac Gallery Limited made £34.7m revenue and £1.7m profit in the year to 31 Dec 2025.

Thaddaeus Ropac Gallery Limited’s revenue fell 5% to £34.7m in the year to 31 Dec 2025, with £1.7m profit and 25 employees. The company is classified under “operation of arts facilities” and is based in London; we hold 4 years of its filed accounts.

Full P&L filedSection R · Arts, entertainment and recreationSIC 90040Operation of arts facilities

Status: Active
Location: London, London
Age: 10 yrs · since 2016
Type: Private Limited Company

Latest accounts · year to 31 Dec 2025

Key figures

IndependentCapital-lightCash flow filed

Revenue

£34.7m

Growth ▼4.9%

Profit

£1.7m

Growth ▼8%

Profit margin

4.9%

Gross 30.2%

Employees

Change ▲8.7%

Profit / employee

£68k

Revenue/employee £1.4m

Profitable streak

4yrs

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&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£45.2m	£49.7m	£36.5m	£34.7m
Cost of sales	£27m	£32.2m	£26.5m	£24.2m
Gross profit	£18.3m	£17.5m	£10m	£10.5m
Operating profit	£11.9m	£9.4m	£2.5m	£2.5m
Profit before tax	£11.9m	£9.4m	£2.7m	£2.5m
Profit after tax	£9.5m	£7m	£1.8m	£1.7m
Profit (best available)	£9.5m	£7m	£1.8m	£1.7m
Staff costs	£3.8m	£3.2m	£2.7m	£3.4m
Employees (average)	21	23	23	25
Ratios
Profit margin	21%	14.1%	5.1%	4.9%
Gross margin	40.4%	35.1%	27.4%	30.2%
Revenue per employee	£2.2m	£2.2m	£1.6m	£1.4m
Profit per employee	£452k	£305k	£80.3k	£68k
Cash conversion	18.4%	98.6%	243.7%	−17.9%
Growth (year on year)
Revenue growth	—	▲9.8%	▼26.5%	▼4.9%
Profit growth	—	▼26.1%	▼73.7%	▼8%
Headcount growth	—	▲9.5%	0%	▲8.7%
Balance sheet — indirect signals, not revenue
Cash at bank	£8.8m	£8.6m	£7.7m	£5.8m
Net assets	£15.5m	£13.2m	£7.9m	£8.1m
Fixed assets	£1.8m	£1.3m	£827k	£367k
Current assets	£31.7m	£21.6m	£15.6m	£13.5m
Debtors	£11.7m	£5.2m	£2.4m	£3m
Deferred income	£5.5m	£6.6m	£2.5m	£1.6m
Cash from operations	£2.2m	£9.3m	£6.1m	−£440k
Source	FullAccounts · bulk data Dec 2024	FullAccounts · bulk data Dec 2024	FullAccounts · bulk data Dec 2025	FullAccounts · bulk data Aug 2026

Derived from the latest filing

How the business works

Profit margin: 4.9%; Profit ÷ revenue.
Gross margin: 30.2%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £1.4m; Revenue ÷ average employees.
Profit per employee: £68k; Profit ÷ average employees.
Cash conversion: −17.9%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 1.1%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 4.5%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 8.7%; 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: ▲2%; Now £8.1m
Cash at bank: ▼25%; Now £5.8m
Headcount: ▲9%; Now 25
Deferred income: ▼38%; Now £1.6m
Fixed assets: ▼56%; Now £367k

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £1.7m), from the Companies House accounts bulk data published Aug 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.