WP R Midco 1 Limited
Registered name: WP R MIDCO 1 LIMITED
Part of Next PLC groupWP R Midco 1 Limited made £405m revenue and £26.8m profit in the year to 31 Jan 2026.
WP R Midco 1 Limited’s revenue grew 9% to £405m in the year to 31 Jan 2026, with £26.8m profit. The company is classified under “activities of distribution holding companies” and is based in London; we hold 4 years of its filed accounts.
- Status
- Active
- 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 | 25 Jan 2024 | 25 Jan 2025 | 31 Jan 2025 | 31 Jan 2026 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £346m | £371m | £371m | £405m |
| Cost of sales | −£131m | −£145m | −£145m | −£152m |
| Gross profit | £215m | £226m | £226m | £254m |
| Operating profit | £35m | £37.8m | £37.8m | £43.4m |
| Profit before tax | £32.1m | £35.8m | £35.8m | £41.7m |
| Profit after tax | £22.9m | £24.4m | £24.4m | £26.8m |
| Profit (best available) | £22.9m | £24.4m | £24.4m | £26.8m |
| Employees (average) | 1,736 | 1,600 | — | — |
| Ratios | ||||
| Profit margin | 6.6% | 6.6% | 6.6% | 6.6% |
| Gross margin | 62.2% | 60.9% | 60.9% | 62.6% |
| Revenue per employee | £199k | £232k | — | — |
| Profit per employee | £13.2k | £15.2k | — | — |
| Growth (year on year) | ||||
| Revenue growth | — | ▲7.3% | — | ▲9.1% |
| Profit growth | — | ▲6.3% | — | ▲10.1% |
| Headcount growth | — | ▼7.8% | — | — |
| Balance sheet — indirect signals, not revenue | ||||
| Net assets | — | — | — | — |
| Source | Accounts · bulk data Aug 2025 | Accounts · bulk data Aug 2025 | Accounts · bulk data Jun 2026 | Accounts · bulk data Jun 2026 |
How the business works
- Profit margin
- 6.6%
- Profit ÷ revenue.
- Gross margin
- 62.6%
- 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
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- 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 —
- Cash at bank
- —
- Now —
- Headcount
- —
- Now —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Next PLCultimate parent75–100%
- Next Group PLC75–100%
- Next Holdings Limited50–75%
- Pink Holdco Limited75–100%
- WP R Midco 1 Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- WP R Midco 2 LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Jan 2026 (profit £26.8m), from the Companies House accounts bulk data published Jun 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.