PWC Holdco 1 Limited
Registered name: PWC HOLDCO 1 LIMITED
Part of Limerston Capital Partners I GP LLP groupPWC Holdco 1 Limited made £28.2m revenue and a £15.7m loss in the year to 31 Mar 2025.
PWC Holdco 1 Limited’s revenue fell 7% to £28.2m in the year to 31 Mar 2025, with a loss of £15.7m and 697 employees. The company is classified under “activities of other holding companies” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 6 yrs · since 2020
- 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. From the filing: “PWC Midco Limited”
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £32.6m | £30.3m | £28.2m |
| Cost of sales | £17.8m | £16.3m | £14.4m |
| Gross profit | £14.8m | £14.1m | £13.8m |
| Operating profit | −£4.4m | −£5.7m | −£5.6m |
| Profit before tax | −£12.8m | −£15.2m | −£15.9m |
| Profit after tax | −£12.9m | −£15.1m | −£15.7m |
| Profit (best available) | −£12.9m | −£15.1m | −£15.7m |
| Staff costs | £23.9m | £22m | £20.7m |
| Employees (average) | 938 | 792 | 697 |
| Ratios | |||
| Profit margin | −39.6% | −49.8% | −55.5% |
| Gross margin | 45.4% | 46.4% | 48.9% |
| Revenue per employee | £34.7k | £38.3k | £40.5k |
| Profit per employee | −£13.8k | −£19k | −£22.5k |
| Growth (year on year) | |||
| Revenue growth | — | ▼6.9% | ▼6.9% |
| Headcount growth | — | ▼15.6% | ▼12% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | −£35k | −£35k | −£35k |
| Fixed assets | £61.1m | £53.3m | £45.6m |
| Current assets | £52.3m | £61.3m | £69.7m |
| Debtors | £1.9m | £1m | £1.2m |
| Source | Accounts · bulk data Dec 2024 | Accounts · bulk data Dec 2024 | FullAccounts · bulk data Dec 2025 |
How the business works
- Profit margin
- −55.5%
- Profit ÷ revenue.
- Gross margin
- 48.9%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £40.5k
- Revenue ÷ average employees.
- Profit per employee
- −£22.5k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 161.3%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 4.2%
- 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 −£35k
- Cash at bank
- —
- Now —
- Headcount
- ▼12%
- Now 697
- Deferred income
- —
- Now —
- Fixed assets
- ▼14%
- Now £45.6m
Group structure
Ownership chain
- Limerston Capital Partners I GP LLPultimate parent75–100%
- PWC Newco Limited75–100%
- PWC Topco Limited75–100%
- PWC Midco Limited75–100%
- PWC Holdco 1 Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Trinity Homecare Holdings LimitedRev. £140k · Profit −£4.4m
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Mar 2025 (profit −£15.7m), from the Companies House accounts bulk data published Dec 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.