Project Cake Bidco Limited
Registered name: PROJECT CAKE BIDCO LIMITED
Part of Exponent Private Equity (Holdings) LLP groupProject Cake Bidco Limited made £0 revenue and a £4.5m loss in the year to 31 Mar 2026.
Project Cake Bidco Limited’s revenue fell 100% to £0 in the year to 31 Mar 2026, with a loss of £4.5m and 2 employees. The company is classified under “activities of other holding companies” and is based in Leeds; we hold 5 years of its filed accounts.
- Status
- Active
- Location
- Leeds, Yorkshire and The Humber
- 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. From the filing: “The immediate parent company is Project Cake Midco Limited and the ultimate parent company is Agility Topco Limited, both companies registered in England and Wales. Agility Topco Limited, prepares con”
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 | 31 Mar 2026 |
|---|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||||
| Revenue (turnover) | £502k | £380k | £349k | £321k | £0 |
| Gross profit | £502k | £380k | £349k | £321k | £0 |
| Operating profit | −£23.9k | −£94.2k | −£47.4k | −£72.1k | £0 |
| Profit before tax | −£3.6m | −£3.9m | −£4m | −£4.3m | −£4.5m |
| Profit after tax | −£3.6m | −£3.9m | −£4m | −£4.3m | −£4.5m |
| Profit (best available) | −£3.6m | −£3.9m | −£4m | −£4.3m | −£4.5m |
| Staff costs | £457k | £346k | £317k | £292k | £0 |
| Employees (average) | 3 | 3 | 3 | 2 | 2 |
| Ratios | |||||
| Profit margin | −716.2% | −1013% | −1153% | −1335% | — |
| Gross margin | 100% | 100% | 100% | 100% | — |
| Revenue per employee | £167k | £127k | £116k | £161k | £0 |
| Profit per employee | −£1.2m | −£1.3m | −£1.3m | −£2.1m | −£2.3m |
| Growth (year on year) | |||||
| Revenue growth | — | ▼24.3% | ▼8.2% | ▼8.1% | ▼100% |
| Headcount growth | — | 0% | 0% | ▼33.3% | 0% |
| Balance sheet — indirect signals, not revenue | |||||
| Net assets | −£3.6m | −£7.5m | −£11.5m | −£15.8m | −£20.3m |
| Fixed assets | £57.4m | £57.4m | £57.4m | £57.4m | — |
| Current assets | £108k | £17.6m | £19.1m | £20.9m | £22.7m |
| Debtors | £108k | £17.6m | £19.1m | £20.9m | £22.7m |
| Deferred income | £32.6k | £0 | £379 | £0 | — |
| Source | Accounts · bulk data Dec 2023 | Accounts · bulk data Dec 2023 | FullAccounts · bulk data Dec 2024 | FullAccounts · bulk data Sep 2025 | FullAccounts · bulk data Sep 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
- −£2.3m
- 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 −£20.3m
- Cash at bank
- —
- Now —
- Headcount
- 0%
- Now 2
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Exponent Private Equity (Holdings) LLPultimate parent75–100%
- Agility Topco Limited75–100%
- Agility Bidco Limited75–100%
- Project Cake Topco Limited75–100%
- Project Cake Midco Limited75–100%
- Project Cake Bidco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Hippo Digital LimitedRev. £74.8m · Profit £5.1m
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Mar 2026 (profit −£4.5m), from the Companies House accounts bulk data published Sep 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.