How much does Reef Kitchens Limited make?

Reef Kitchens Limited reported revenue of £13.5m and a loss of £16.3m in the year to 31 Dec 2022, according to its accounts filed at Companies House.

How many employees does Reef Kitchens Limited have?

Reef Kitchens Limited reported an average of 15 employees in the year to 31 Dec 2022.

Is Reef Kitchens Limited profitable?

No — Reef Kitchens Limited reported a loss of £16.3m in the year to 31 Dec 2022.

Company No. 10137109 · Incorporated 21 Apr 2016

Reef Kitchens Limited

Registered name: REEF KITCHENS LIMITED

Part of Reef Global Limited group

Reef Kitchens Limited made £13.5m revenue and a £16.3m loss in the year to 31 Dec 2022.

Reef Kitchens Limited’s revenue grew 377% to £13.5m in the year to 31 Dec 2022, with a loss of £16.3m and 15 employees. The company is classified under “other food services” and is based in London; we hold 2 years of its filed accounts.

Full P&L filedSection I · Accommodation and food servicesSIC 56290Other food services

Status: Active - Proposal to Strike off
Location: London, London
Age: 10 yrs · since 2016
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.

Latest accounts · year to 31 Dec 2022

Key figures

Doing more with less

Revenue

£13.5m

Growth ▲377.2%

Profit

−£16.3m

Growth —

Profit margin

−120.2%

Gross −40.1%

Employees

Change ▼74.6%

Profit / employee

−£1.1m

Revenue/employee £902k

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.

2 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2021	31 Dec 2022
Disclosure	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£2.8m	£13.5m
Cost of sales	£4.8m	£19m
Gross profit	−£1.9m	−£5.4m
Profit before tax	−£5.4m	−£15.8m
Profit after tax	−£5.4m	−£16.3m
Profit (best available)	−£5.4m	−£16.3m
Employees (average)	59	15
Ratios
Profit margin	−189%	−120.2%
Gross margin	−67.7%	−40.1%
Revenue per employee	£48k	£902k
Profit per employee	−£90.8k	−£1.1m
Growth (year on year)
Revenue growth	—	▲377.2%
Headcount growth	—	▼74.6%
Balance sheet — indirect signals, not revenue
Cash at bank	£130k	£127k
Net assets	£4.4m	£1.3m
Fixed assets	£4.9m	£4.3m
Current assets	£2.1m	£1.1m
Debtors	£68.3k	£251k
Deferred income	£496k	£850k
Source	Accounts · bulk data Feb 2024	Accounts · bulk data Feb 2024

Derived from the latest filing

How the business works

Profit margin: −120.2%; Profit ÷ revenue.
Gross margin: −40.1%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £902k; Revenue ÷ average employees.
Profit per employee: −£1.1m; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 32%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 6.3%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 1.9%; 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: ▼70%; Now £1.3m
Cash at bank: ▼2%; Now £127k
Headcount: ▼75%; Now 15
Deferred income: ▲72%; Now £850k
Fixed assets: ▼12%; Now £4.3m

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

Ownership chain

Reef Global Limitedultimate parent75–100%
Reef Kitchens Limitedthis company

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

Sister companies (2)

Reef London LimitedActive - Proposal to Strike offRev. £3.1m · Profit −£1.2m
RGL Sub LtdActive - Proposal to Strike offFigures 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 accounts for the year to 31 Dec 2022 (profit −£16.3m), from the Companies House accounts bulk data published Feb 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.