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Company No. 10647696 · Incorporated 2 Mar 2017

Gridreserve Ltd

Registered name: GRIDRESERVE LTD

Part of Gresham House Energy Storage Fund PLC group

Gridreserve Ltd made £2.1m revenue and a £128k loss in the year to 31 Dec 2023.

Gridreserve Ltd’s revenue fell 57% to £2.1m in the year to 31 Dec 2023, with a loss of £128k and 3 employees. The company is classified under “production of electricity” and is based in London; we hold 2 years of its filed accounts.

Full P&L filedSection D · Electricity, gas, steam and air conditioning supplySIC 35110Production of electricity
Status
Active
Location
London, London
Age
9 yrs · since 2017
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 2023

Key figures

Small teamCash flow filed
Revenue
£2.1m
Growth ▼56.9%
Profit
−£128k
Growth ▼106.6%
Profit margin
−6.2%
Gross 78.6%
Employees
3
Change ▼25%
Profit / employee
−£42.6k
Revenue/employee £688k
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 to31 Dec 202231 Dec 2023
DisclosureFull P&LFull P&L
Profit & loss
Revenue (turnover)£4.8m£2.1m
Cost of sales£474k£442k
Gross profit£4.3m£1.6m
Operating profit£3.1m£374k
Profit before tax£2.2m−£344k
Profit after tax£1.9m−£128k
Profit (best available)£1.9m−£128k
Employees (average)43
Ratios
Profit margin40.7%−6.2%
Gross margin90.1%78.6%
Revenue per employee£1.2m£688k
Profit per employee£487k−£42.6k
Cash conversion100%375.5%
Growth (year on year)
Revenue growth—▼56.9%
Profit growth—▼106.6%
Headcount growth—▼25%
Balance sheet — indirect signals, not revenue
Cash at bank£667k£360k
Net assets£2.7m£2.5m
Fixed assets£11.7m£10.8m
Current assets£1.8m£1m
Debtors£290k£137k
Deferred income£950k£758k
Cash from operations£3.1m£1.4m
SourceFullAccounts · bulk data Sep 2024FullAccounts · bulk data Sep 2024
Derived from the latest filing

How the business works

Profit margin
−6.2%
Profit ÷ revenue.
Gross margin
78.6%
Gross profit ÷ revenue. High for software and services.
Revenue per employee
£688k
Revenue ÷ average employees.
Profit per employee
−£42.6k
Profit ÷ average employees.
Cash conversion
375.5%
Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue
524.6%
Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue
36.7%
Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue
6.6%
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
▼5%
Now £2.5m
Cash at bank
▼46%
Now £360k
Headcount
▼25%
Now 3
Deferred income
▼20%
Now £758k
Fixed assets
▼8%
Now £10.8m

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

  1. Gresham House Energy Storage Fund PLCultimate parent75–100%
  2. Gresham House Energy Storage Holdings Limited75–100%
  3. Grid Holdco 1 Limited75–100%
  4. Gridreserve Ltdthis company

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

Sister companies (23)

From the Persons with Significant Control register (corporate controllers 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 2023 (profit −£128k), 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.