Butterfly Bidco Limited
Registered name: BUTTERFLY BIDCO LIMITED
Part of The Carlyle Group groupButterfly Bidco Limited made £2.8m revenue and a £17.2m loss in the year to 31 Dec 2024. read from filing text
Butterfly Bidco Limited’s revenue fell 14% to £2.8m in the year to 31 Dec 2024, with a loss of £17.2m and 9 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
- 5 yrs · since 2021
- 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 Dec 2022 | 31 Dec 2023 | 31 Dec 2024 |
|---|---|---|---|
| Disclosure | Full P&Lread from filing text | Full P&Lread from filing text | Full P&Lread from filing text |
| Profit & loss | |||
| Revenue (turnover) | £3.1m | £3.2m | £2.8m |
| Cost of sales | — | — | £4.9k |
| Gross profit | — | — | £2.8m |
| Operating profit | £9.4k | −£235k | −£1.5k |
| Profit before tax | −£12.5m | −£15.1m | −£16m |
| Profit after tax | −£12.5m | −£13.9m | −£17.2m |
| Profit (best available) | −£12.5m | −£13.9m | −£17.2m |
| Employees (average) | 10 | 9 | 9 |
| Ratios | |||
| Profit margin | −407% | −429.3% | −620.1% |
| Gross margin | — | — | 99.8% |
| Revenue per employee | £307k | £359k | £309k |
| Profit per employee | −£1.2m | −£1.5m | −£1.9m |
| Growth (year on year) | |||
| Revenue growth | — | ▲5.1% | ▼13.9% |
| Headcount growth | — | ▼10% | 0% |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £23.1k | £151k | £110k |
| Net assets | −£19.4m | −£32.9m | −£50m |
| Current assets | £44.8m | £49.4m | £21.7m |
| Debtors | £44.8m | £49.2m | £89.8k |
| Deferred income | £583k | £860k | £54.2k |
| Source | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Dec 2025 |
How the business works
- Profit margin
- −620.1%
- Profit ÷ revenue.
- Gross margin
- 99.8%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £309k
- Revenue ÷ average employees.
- Profit per employee
- −£1.9m
- 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
- 1.9%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 3.2%
- 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 −£50m
- Cash at bank
- ▼27%
- Now £110k
- Headcount
- 0%
- Now 9
- Deferred income
- ▼94%
- Now £54.2k
- 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
- The Carlyle Group (registered outside the UK register)ultimate parent50–75%
- Butterfly Topco Limited75–100%
- Butterfly Midco Limited75–100%
- Butterfly Bidco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (2)
- Disguise Technologies LimitedRev. £16m · Profit −£1.2m
- New Leaf Topco LimitedLiquidationFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Dec 2024 (profit −£17.2m), 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.