Blackthorn Finance Ltd
Registered name: BLACKTHORN FINANCE LTD
Part of Sync Capital Limited groupBlackthorn Finance Ltd made £7.7m revenue and a £1.4m loss in the year to 31 Dec 2023.
Blackthorn Finance Ltd’s revenue was £7.7m in the year to 31 Dec 2023, with a loss of £1.4m and 0 employees. The company is classified under “financial intermediation not elsewhere classified” and is based in London; we hold 3 years of its filed accounts.
- Status
- In Administration
- Location
- London, London
- Age
- 10 yrs · since 2016
- 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 | 30 Jun 2021 | 31 Dec 2022 | 31 Dec 2023 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £917k | £3.4m | £7.7m |
| Cost of sales | £352k | £1m | £2.3m |
| Gross profit | £565k | £2.4m | £5.4m |
| Operating profit | −£134k | −£127k | — |
| Profit before tax | −£134k | −£127k | −£1.4m |
| Profit after tax | −£134k | −£127k | −£1.4m |
| Profit (best available) | −£134k | −£127k | −£1.4m |
| Staff costs | £195k | £1.3m | — |
| Employees (average) | 2 | 29 | 0 |
| Ratios | |||
| Profit margin | −14.6% | −3.7% | −17.8% |
| Gross margin | 61.6% | 69.6% | 70.7% |
| Revenue per employee | £458k | £118k | — |
| Profit per employee | −£67.1k | −£4.4k | — |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £1.2m | £988k | £237k |
| Net assets | £282k | £1.2m | £1.6m |
| Fixed assets | £358k | £889k | £1m |
| Current assets | £1.3m | £1.6m | £1.6m |
| Debtors | £36.2k | £607k | £1.3m |
| Deferred income | £80k | £69.4k | £146k |
| Cash from operations | −£1.1m | £471k | — |
| Source | FullAccounts · bulk data Nov 2023 | FullAccounts · bulk data Nov 2023 | FullAccounts · bulk data Sep 2024 |
How the business works
- Profit margin
- −17.8%
- Profit ÷ revenue.
- Gross margin
- 70.7%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 13.2%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 1.9%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 17.3%
- 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
- —
- Now £1.6m
- Cash at bank
- —
- Now £237k
- Headcount
- —
- Now 0
- Deferred income
- —
- Now £146k
- Fixed assets
- —
- Now £1m
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
- Sync Capital Limitedultimate parent75–100%
- Steven FS Limited75–100%
- Blackthorn Finance Ltdthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (1)
- STVN Cards LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Dec 2023 (profit −£1.4m), from the Companies House accounts bulk data published Sep 2024. 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.