Payroll Software & Services Group Topco Limited
Registered name: PAYROLL SOFTWARE & SERVICES GROUP TOPCO LIMITED
Part of Tenzing Pe I GP LLP groupPayroll Software & Services Group Topco Limited made £21.2m revenue and a £2.5m loss in the year to 31 Mar 2026.
Payroll Software & Services Group Topco Limited’s revenue grew 10% to £21.2m in the year to 31 Mar 2026, with a loss of £2.5m and 175 employees. The company is classified under “activities of financial services holding companies” and is based in Newcastle Upon Tyne; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- Newcastle Upon Tyne, North East
- Age
- 6 yrs · since 2019
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
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.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2024 | 31 Mar 2025 | 31 Mar 2026 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £18.5m | £19.4m | £21.2m |
| Cost of sales | −£7.7m | −£6.9m | −£6.8m |
| Gross profit | £10.8m | £12.4m | £14.5m |
| Operating profit | −£3.9m | −£177k | £707k |
| Profit before tax | −£6.2m | −£2.9m | −£2.6m |
| Profit after tax | −£6.3m | −£3.3m | −£2.5m |
| Profit (best available) | −£6.3m | −£3.3m | −£2.5m |
| Employees (average) | 213 | 192 | 175 |
| Ratios | |||
| Profit margin | −34% | −17.1% | −11.9% |
| Gross margin | 58.5% | 64.2% | 68.1% |
| Revenue per employee | £86.8k | £101k | £121k |
| Profit per employee | −£29.5k | −£17.2k | −£14.5k |
| Growth (year on year) | |||
| Revenue growth | — | ▲4.8% | ▲9.7% |
| Headcount growth | — | ▼9.9% | ▼8.8% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Aug 2025 | Accounts · bulk data Aug 2025 | Accounts · bulk data Aug 2026 |
How the business works
- Profit margin
- −11.9%
- Profit ÷ revenue.
- Gross margin
- 68.1%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £121k
- Revenue ÷ average employees.
- Profit per employee
- −£14.5k
- 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 —
- Cash at bank
- —
- Now —
- Headcount
- ▼9%
- Now 175
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Tenzing Pe I GP LLPultimate parent75–100%
- Payroll Software & Services Group Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Payroll Software & Services Group Midco LimitedFigures not disclosed
Sister companies (2)
- Ishtar Topco LimitedRev. £26.4m · Profit −£20.8m
- Malachite Topco LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Mar 2026 (profit −£2.5m), 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.