Project Alpha Midco Limited
Registered name: PROJECT ALPHA MIDCO LIMITED
Part of Apiary Capital LLP groupProject Alpha Midco Limited made £0 revenue and a £5.1m loss in the year to 31 Jul 2025.
Project Alpha Midco Limited’s revenue was £0 in the year to 31 Jul 2025, with a loss of £5.1m and 7 employees. The company is classified under “activities of other holding companies” and is based in Stoke-on-Trent; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Stoke-on-Trent, West Midlands
- 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 Jul 2022 | 31 Jul 2023 | 31 Jul 2024 | 31 Jul 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £0 | £0 | £0 | £0 |
| Operating profit | −£21.4k | −£4.3k | −£18.1k | −£2.2m |
| Profit before tax | −£2.2m | −£2m | −£2.5m | −£5.1m |
| Profit after tax | −£2.2m | −£2m | −£2.5m | −£5.1m |
| Profit (best available) | −£2.2m | −£2m | −£2.5m | −£5.1m |
| Employees (average) | 0 | 0 | 0 | 7 |
| Ratios | ||||
| Profit margin | — | — | — | — |
| Revenue per employee | — | — | — | £0 |
| Profit per employee | — | — | — | −£729k |
| Balance sheet — indirect signals, not revenue | ||||
| Net assets | −£4.3m | −£6.3m | −£8.8m | −£14m |
| Debtors | £28.5m | £32.8m | £37.7m | £38m |
| Deferred income | — | — | £0 | £462 |
| Source | FullAccounts · bulk data Apr 2024 | FullAccounts · bulk data Apr 2024 | FullAccounts · bulk data Apr 2025 | FullAccounts · bulk data Apr 2026 |
How the business works
- Profit margin
- —
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £0
- Revenue ÷ average employees.
- Profit per employee
- −£729k
- 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 −£14m
- Cash at bank
- —
- Now —
- Headcount
- —
- Now 7
- Deferred income
- —
- Now £462
- Fixed assets
- —
- Now —
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- Apiary Capital LLPultimate parent75–100%
- Apiary Managing Member Ltd75–100%
- Apiary Capital Partners I Investment GP LLP75–100%
- Project Alpha Topco Limited75–100%
- Project Alpha Midco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Project Alpha Bidco LimitedRev. £0 · Profit −£2.1m
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Jul 2025 (profit −£5.1m), from the Companies House accounts bulk data published Apr 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.