Project Steel Midco 1 Limited
Registered name: PROJECT STEEL MIDCO 1 LIMITED
Part of Project Steel Topco Limited groupProject Steel Midco 1 Limited made a £1.9m loss in the year to 31 Dec 2024 (revenue not disclosed).
Project Steel Midco 1 Limited reported a loss of £1.9m in the year to 31 Dec 2024; its revenue was not disclosed. It had 4 employees. The company is classified under “other service activities” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 7 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. From the filing: “The ultimate parent and controlling party is Project Steel Topco Limited, its registered office being Corby Innovation Hub, Bangrave Road South, Corby, England, NN17 1NN, and the ultimate controlling ”
Key figures
This company published its profit but not its turnover, so revenue and margins are not disclosed. We never estimate them.
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2024 |
|---|---|---|---|
| Disclosure | Profit only | Profit only | Profit only |
| Profit & loss | |||
| Revenue (turnover) | — | — | — |
| Profit before tax | −£2.1m | −£2.1m | −£1.9m |
| Profit after tax | −£2.1m | −£2.1m | −£1.9m |
| Profit (best available) | −£2.1m | −£2.1m | −£1.9m |
| Employees (average) | 4 | 4 | 4 |
| Ratios | |||
| Profit margin | — | — | — |
| Profit per employee | −£537k | −£537k | −£477k |
| Growth (year on year) | |||
| Headcount growth | — | 0% | 0% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | −£7.4m | −£9.6m | −£11.5m |
| Fixed assets | £6.2k | £6.2k | £6.2k |
| Current assets | £17.1m | £17.1m | £17.1m |
| Debtors | £17.1m | £17.1m | £17.1m |
| Source | Accounts · bulk data Sep 2024 | Accounts · bulk data Sep 2024 | FullAccounts · bulk data Sep 2025 |
How the business works
- Profit margin
- —
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- −£477k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- 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 −£11.5m
- Cash at bank
- —
- Now —
- Headcount
- 0%
- Now 4
- Deferred income
- —
- Now —
- Fixed assets
- 0%
- Now £6.2k
Group structure
Ownership chain
- Project Steel Topco Limitedultimate parent75–100%
- Project Steel Midco 1 Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Project Steel Midco 2 LimitedRev. £931k · Profit −£565k
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from FullAccounts for the year to 31 Dec 2024 (profit −£1.9m), from the Companies House accounts bulk data published Sep 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.