How much does Expanding Circle Ltd make?

Expanding Circle Ltd reported revenue of £3.6m and a loss of £5.7m in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does Expanding Circle Ltd have?

Expanding Circle Ltd reported an average of 51 employees in the year to 31 Dec 2025.

Is Expanding Circle Ltd profitable?

No — Expanding Circle Ltd reported a loss of £5.7m in the year to 31 Dec 2025.

Company No. 13115702 · Incorporated 6 Jan 2021

Expanding Circle Ltd

Registered name: EXPANDING CIRCLE LTD

Expanding Circle Ltd made £3.6m revenue and a £5.7m loss in the year to 31 Dec 2025. read from filing text

Expanding Circle Ltd’s revenue grew 62% to £3.6m in the year to 31 Dec 2025, with a loss of £5.7m and 51 employees. The company is classified under “business and domestic software development” and is based in London; we hold 4 years of its filed accounts.

Full P&L filedSection J · Information and communicationSIC 62012Business and domestic software development SIC 62020Information technology consultancy activities SIC 63110Data processing, hosting and related activities SIC 74901Environmental consulting activities

Status: Active
Location: London, London
Age: 5 yrs · since 2021
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 controlling party of the company”

Latest accounts · year to 31 Dec 2025

Key figures

Capital-lightDoing more with lessCash flow filed

Revenue

£3.6m

Growth ▲62.1%

Profit

−£5.7m

Growth —

Profit margin

−157.6%

Gross 59.9%

Employees

Change ▼15%

Profit / employee

−£111k

Revenue/employee £70.5k

Profitable streak

0yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2022	31 Dec 2023	31 Dec 2024	31 Dec 2025
Disclosure	Profit only	Full P&Lread from filing text	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	—	£870k	£2.2m	£3.6m
Cost of sales	—	£778k	£1.2m	£1.4m
Gross profit	—	£91.6k	£1m	£2.2m
Operating profit	—	−£7m	−£7.5m	−£6.4m
Profit before tax	—	−£6.9m	−£7.5m	−£6.4m
Profit after tax	−£4.2m	−£6.5m	−£7m	−£5.7m
Profit (best available)	−£4.2m	−£6.5m	−£7m	−£5.7m
Staff costs	—	—	£5.9m	£5.2m
Employees (average)	38	62	60	51
Ratios
Profit margin	—	−743.6%	−314.9%	−157.6%
Gross margin	—	10.5%	46.1%	59.9%
Revenue per employee	—	£14k	£37k	£70.5k
Profit per employee	−£109k	−£104k	−£116k	−£111k
Growth (year on year)
Revenue growth	—	—	▲154.9%	▲62.1%
Headcount growth	—	▲63.2%	▼3.2%	▼15%
Balance sheet — indirect signals, not revenue
Cash at bank	£7.3m	£5.4m	£6.4m	£1.3m
Net assets	£7.4m	£5.6m	£6m	£581k
Fixed assets	£70.7k	£70k	£96k	£73.9k
Current assets	£7.7m	£6.3m	£7.7m	£2.8m
Debtors	£361k	£105k	£763k	£836k
Deferred income	—	£412k	£1.2m	£1.4m
Cash from operations	—	£6.4m	£7.2m	£5.6m
Source	FullAccounts · bulk data Sep 2024	FullAccounts · bulk data Sep 2024	FullAccounts · bulk data Sep 2025	FullAccounts · bulk data Jul 2026

Derived from the latest filing

How the business works

Profit margin: −157.6%; Profit ÷ revenue.
Gross margin: 59.9%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £70.5k; Revenue ÷ average employees.
Profit per employee: −£111k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 2.1%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 38.6%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 23.3%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

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: ▼90%; Now £581k
Cash at bank: ▼80%; Now £1.3m
Headcount: ▼15%; Now 51
Deferred income: ▲17%; Now £1.4m
Fixed assets: ▼23%; Now £73.9k

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit −£5.7m), from the Companies House accounts bulk data published Jul 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.