PWC Newco Limited
Registered name: PWC NEWCO LIMITED
Part of Limerston Capital Partners I GP LLP groupPWC Newco Limited made £28.2m revenue and £2.2m profit in the year to 31 Mar 2025.
PWC Newco Limited’s revenue fell 7% to £28.2m in the year to 31 Mar 2025, with £2.2m profit 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.
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 | −£4.6m | −£5.8m | −£5.7m |
| Profit before tax | −£11m | −£13.7m | −£13.5m |
| Profit after tax | £1.7m | £1.5m | £2.2m |
| Profit (best available) | £1.7m | £1.5m | £2.2m |
| Staff costs | £23.9m | £22m | £20.7m |
| Employees (average) | 938 | 792 | 697 |
| Ratios | |||
| Profit margin | 5.2% | 5% | 7.8% |
| Gross margin | 45.4% | 46.4% | 48.9% |
| Revenue per employee | £34.7k | £38.3k | £40.5k |
| Profit per employee | £1.8k | £1.9k | £3.2k |
| Growth (year on year) | |||
| Revenue growth | — | ▼6.9% | ▼6.9% |
| Profit growth | — | ▼11.1% | ▲45.1% |
| Headcount growth | — | ▼15.6% | ▼12% |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £164k | £3k | — |
| Net assets | £20.6m | £22.1m | £24.3m |
| Fixed assets | £61.1m | £53.3m | £45.6m |
| Current assets | £32.5m | £39.5m | £46.7m |
| Debtors | £1.9m | £1m | £1.2m |
| Cash from operations | £2.5m | £3m | £11.1m |
| Source | Accounts · bulk data Dec 2024 | Accounts · bulk data Dec 2024 | FullAccounts · bulk data Dec 2025 |
How the business works
- Profit margin
- 7.8%
- 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
- £3.2k
- 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
- ▲10%
- Now £24.3m
- 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 Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- PWC Topco LimitedRev. £0 · Profit £182k
Sister companies (5)
- WMP Newco LimitedRev. £7.9m · Profit £127k
- Epg Newco LimitedRev. £600k · Profit £2.3m
- Prism Newco LimitedRev. £0 · Profit £16k
- VB Newco LimitedLiquidationRev. £0 · Profit £31.7m
- Afa Topco LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Mar 2025 (profit £2.2m), 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.