Wushu Studios Ltd
Registered name: WUSHU STUDIOS LTD
Part of Houting Topco UK Limited groupWushu Studios Ltd made £17.6m revenue and £3.4m profit in the year to 31 Dec 2025. read from filing text
Wushu Studios Ltd’s revenue was £17.6m in the year to 31 Dec 2025, with £3.4m profit and 165 employees. The company is classified under “publishing of computer games” and is based in London; we hold 4 years of its filed accounts.
- 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. From the filing: “The immediate parent undertaking is Keywords UK Holdings Limited, a company incorporated in England & Wales. Its registered office address is”
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Aug 2022 | 31 Aug 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|---|
| Disclosure | No P&L | Profit only | Full P&Lread from filing text | Full P&Lread from filing text |
| Profit & loss | ||||
| Revenue (turnover) | — | — | £16.7m | £17.6m |
| Cost of sales | — | — | £10.9m | £10.7m |
| Gross profit | — | — | £5.8m | £6.9m |
| Operating profit | — | — | £709k | £3.2m |
| Profit before tax | — | — | £786k | £3.3m |
| Profit after tax | — | £1.7m | £859k | £3.4m |
| Profit (best available) | — | £1.7m | £859k | £3.4m |
| Staff costs | — | — | £12.4m | £9.5m |
| Employees (average) | 72 | 114 | 156 | 165 |
| Ratios | ||||
| Profit margin | — | — | 5.1% | 19.2% |
| Gross margin | — | — | 34.9% | 39.3% |
| Revenue per employee | — | — | £107k | £107k |
| Profit per employee | — | £15.3k | £5.5k | £20.4k |
| Growth (year on year) | ||||
| Headcount growth | — | ▲58.3% | — | — |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £1.3m | £3.1m | £924k | £5.3k |
| Net assets | £1.5m | £3.3m | £4.1m | £5.5m |
| Fixed assets | £114k | £1.2m | £518k | £666k |
| Current assets | £2m | £4.7m | £5m | £6.3m |
| Debtors | £141k | £360k | £1.2m | £990k |
| Deferred income | — | — | £387k | £371k |
| Source | FullAccounts · bulk data May 2024 | FullAccounts · bulk data May 2024 | FullAccounts · bulk data Sep 2025 | FullAccounts · bulk data Aug 2026 |
How the business works
- Profit margin
- 19.2%
- Profit ÷ revenue.
- Gross margin
- 39.3%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £107k
- Revenue ÷ average employees.
- Profit per employee
- £20.4k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 3.8%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 2.1%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 5.6%
- 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 £5.5m
- Cash at bank
- —
- Now £5.3k
- Headcount
- —
- Now 165
- Deferred income
- —
- Now £371k
- Fixed assets
- —
- Now £666k
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
- Houting Topco UK Limitedultimate parent75–100%
- Houting Midco Limited75–100%
- Houting UK Limited75–100%
- Keywords Studios Limited75–100%
- Keywords UK Holdings Limited75–100%
- Wushu Studios Ltdthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Wushu Development LtdFigures not disclosed
Sister companies (19)
- Electric Square LimitedRev. £30.2m · Profit −£563k
- Climax Studios LimitedRev. £30.1m · Profit £5.3m
- D3T LtdRev. £20.7m · Profit −£105k
- The Multiplayer Group LtdRev. £20m · Profit −£3.4m
- Studio Gobo LimitedRev. £10.7m · Profit £232k
- Keywords UK LimitedRev. £0 · Profit £1m
- Bright White LimitedFigures not disclosed
- Cord Worldwide LtdLiquidationFigures not disclosed
- Fire Without Smoke LtdFigures not disclosed
- Freeanimal UK LimitedFigures not disclosed
- Indigo Pearl LimitedFigures not disclosed
- Keywords Australia Holdings LimitedFigures not disclosed
- Keywords Ventures LimitedFigures not disclosed
- Laced Music LtdFigures not disclosed
- Laced Publishing LimitedFigures not disclosed
- Maverick Media LimitedFigures not disclosed
- Player Research LtdFigures not disclosed
- The Trailerfarm LimitedFigures not disclosed
- Waste Creative LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Similar profitable businesses
- Bulkhead LimitedDerby · Publishing of computer games
- Revenue
- £18.5m
- Profit
- £3.3m
- Staff
- 107
- Fenris Creations UK LtdSlough · Publishing of computer games
- Revenue
- £24.7m
- Profit
- £5.3m
- Staff
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- Marmalade Game Studio LimitedLondon · Publishing of computer games
- Revenue
- £10.8m
- Profit
- £718k
- Staff
- 108
- Ioi Brighton LtdBrighton and Hove · Publishing of computer games
- Revenue
- £49.2m
- Profit
- £7.1m
- Staff
- 42
Sources
Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £3.4m), 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.