How much does Recognition Music Limited make?

Recognition Music Limited reported revenue of £10.6m and a loss of £4.1m in the year to 31 Dec 2023, according to its accounts filed at Companies House.

How many employees does Recognition Music Limited have?

Recognition Music Limited reported an average of 54 employees in the year to 31 Dec 2023.

Is Recognition Music Limited profitable?

No — Recognition Music Limited reported a loss of £4.1m in the year to 31 Dec 2023.

Company No. 11425132 · Incorporated 20 Jun 2018

Recognition Music Limited

Registered name: RECOGNITION MUSIC LIMITED

Part of Lyra Bidco Limited group

Recognition Music Limited made £10.6m revenue and a £4.1m loss in the year to 31 Dec 2023. read from filing text

Recognition Music Limited’s revenue fell 9% to £10.6m in the year to 31 Dec 2023, with a loss of £4.1m and 54 employees. The company is classified under “other business support service activities” and is based in London; we hold 2 years of its filed accounts.

Full P&L filedSection N · Administrative and support servicesSIC 82990Other business support service activities n.e.c.

Status: Active
Location: London, London
Age: 8 yrs · since 2018
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

Capital-lightCash flow filed

Revenue

£10.6m

Growth ▼9.4%

Profit

−£4.1m

Growth —

Profit margin

−38.4%

Gross 85%

Employees

Change ▲5.9%

Profit / employee

−£75.4k

Revenue/employee £196k

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&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£11.7m	£10.6m
Cost of sales	£775k	£1.6m
Gross profit	£10.9m	£9m
Operating profit	−£3.5m	−£5.2m
Profit before tax	−£3.7m	−£5.2m
Profit after tax	−£2.8m	−£4.1m
Profit (best available)	−£2.8m	−£4.1m
Staff costs	£10m	£10m
Employees (average)	51	54
Ratios
Profit margin	−24.2%	−38.4%
Gross margin	93.4%	85%
Revenue per employee	£230k	£196k
Profit per employee	−£55.5k	−£75.4k
Growth (year on year)
Revenue growth	—	▼9.4%
Headcount growth	—	▲5.9%
Balance sheet — indirect signals, not revenue
Cash at bank	£8.6m	£1.6m
Net assets	£7.6m	£3.6m
Fixed assets	£933k	£939k
Current assets	£10.4m	£4.8m
Debtors	£312k	£0
Deferred income	£1.4m	£705k
Cash from operations	£2m	£6.4m
Source	FullAccounts · bulk data Oct 2024	FullAccounts · bulk data Oct 2024

Derived from the latest filing

How the business works

Profit margin: −38.4%; Profit ÷ revenue.
Gross margin: 85%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £196k; Revenue ÷ average employees.
Profit per employee: −£75.4k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 8.8%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 6.7%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 0%; 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: ▼53%; Now £3.6m
Cash at bank: ▼81%; Now £1.6m
Headcount: ▲6%; Now 54
Deferred income: ▼49%; Now £705k
Fixed assets: ▲1%; Now £939k

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

Lyra Bidco Limitedultimate parent75–100%
Recognition Music Limitedthis company

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

Sister companies (1)

Hipgnosis Holdings UK LimitedFigures not disclosed

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 −£4.1m), from the Companies House accounts bulk data published Oct 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.