How much does Full Fibre Limited make?

Full Fibre Limited reported revenue of £1.1m and a loss of £23.1m in the year to 31 Dec 2023, according to its accounts filed at Companies House.

How many employees does Full Fibre Limited have?

Full Fibre Limited reported an average of 240 employees in the year to 31 Dec 2023.

Is Full Fibre Limited profitable?

No — Full Fibre Limited reported a loss of £23.1m in the year to 31 Dec 2023.

Company No. 11090610 · Incorporated 30 Nov 2017

Full Fibre Limited

Registered name: FULL FIBRE LIMITED

Part of Iris Master Holdco Limited group

Full Fibre Limited made £1.1m revenue and a £23.1m loss in the year to 31 Dec 2023.

Full Fibre Limited’s revenue fell 35% to £1.1m in the year to 31 Dec 2023, with a loss of £23.1m and 240 employees. The company is classified under “other telecommunications activities” and is based in London; we hold 2 years of its filed accounts.

Full P&L filedSection J · Information and communicationSIC 61900Other telecommunications activities

Status: Active
Location: London, London
Age: 8 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

Revenue

£1.1m

Growth ▼34.6%

Profit

−£23.1m

Growth —

Profit margin

−2081%

Gross −92.2%

Employees

240

Change ▲18.2%

Profit / employee

−£96.3k

Revenue/employee £4.6k

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 2022	31 Dec 2023
Disclosure	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£1.7m	£1.1m
Cost of sales	£1.8m	£2.1m
Gross profit	−£94.8k	−£1m
Operating profit	−£7.5m	−£15.7m
Profit before tax	−£11.2m	−£23.1m
Profit after tax	−£11.2m	−£23.1m
Profit (best available)	−£11.2m	−£23.1m
Staff costs	£3.6m	£4.5m
Employees (average)	203	240
Ratios
Profit margin	−662.2%	−2081%
Gross margin	−5.6%	−92.2%
Revenue per employee	£8.4k	£4.6k
Profit per employee	−£55.4k	−£96.3k
Growth (year on year)
Revenue growth	—	▼34.6%
Headcount growth	—	▲18.2%
Balance sheet — indirect signals, not revenue
Cash at bank	£16.7m	£5.2m
Net assets	−£18.5m	−£41.6m
Fixed assets	£45.2m	£74.4m
Current assets	£21.7m	£9.5m
Debtors	£904k	£397k
Deferred income	£2.6m	£3.2m
Source	FullAccounts · bulk data Jan 2025	FullAccounts · bulk data Jan 2025

Derived from the latest filing

How the business works

Profit margin: −2081%; Profit ÷ revenue.
Gross margin: −92.2%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £4.6k; Revenue ÷ average employees.
Profit per employee: −£96.3k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 6698%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 286.2%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 35.7%; 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: —; Now −£41.6m
Cash at bank: ▼69%; Now £5.2m
Headcount: ▲18%; Now 240
Deferred income: ▲24%; Now £3.2m
Fixed assets: ▲65%; Now £74.4m

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

Iris Master Holdco Limitedultimate parent75–100%
Iris Holdco Limited75–100%
Iris Infra Master Holdco Limited75–100%
Iris Infra Holdco Limited50–75%
Altnet Partners Holdco Limited75–100%
Altnet Partners Limited75–100%
Zzoomm Group Limited75–100%
Zzoomm PLC75–100%
Iris Infra Limited75–100%
Full Fibre Limitedthis company

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

Sister companies (2)

Be Fibre LtdRev. £845k · Profit −£4.2m
Digital Master Holdco LimitedRev. — · Profit −£363k

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

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Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2023 (profit −£23.1m), from the Companies House accounts bulk data published Jan 2025. 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.