Thincats Group Limited
Registered name: THINCATS GROUP LIMITED
Part of Shawbrook Group PLC groupThincats Group Limited made £61.5m revenue and a £23.2m loss in the year to 30 Jun 2024.
Thincats Group Limited’s revenue grew 47% to £61.5m in the year to 30 Jun 2024, with a loss of £23.2m and 100 employees. The company is classified under “activities of financial services holding companies” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London
- Age
- 5 yrs · since 2021
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 30 Jun 2022 | 30 Jun 2023 | 30 Jun 2024 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £43.6m | £41.9m | £61.5m |
| Cost of sales | −£17.3m | −£21.9m | −£35.7m |
| Gross profit | £26.4m | £20m | £25.8m |
| Operating profit | −£1.6m | −£1.7m | £1.8m |
| Profit before tax | −£10.3m | −£5.1m | −£23.3m |
| Profit after tax | −£10.3m | −£4.7m | −£23.2m |
| Profit (best available) | −£10.3m | −£4.7m | −£23.2m |
| Employees (average) | 80 | 92 | 100 |
| Ratios | |||
| Profit margin | −23.7% | −11.3% | −37.7% |
| Gross margin | 60.5% | 47.8% | 41.9% |
| Revenue per employee | £545k | £456k | £615k |
| Profit per employee | −£129k | −£51.5k | −£232k |
| Growth (year on year) | |||
| Revenue growth | — | — | ▲46.7% |
| Headcount growth | — | — | ▲8.7% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Mar 2024 | Accounts · bulk data Mar 2024 | Accounts · bulk data Mar 2025 |
How the business works
- Profit margin
- −37.7%
- Profit ÷ revenue.
- Gross margin
- 41.9%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £615k
- Revenue ÷ average employees.
- Profit per employee
- −£232k
- 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 —
- Cash at bank
- —
- Now —
- Headcount
- ▲9%
- Now 100
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Shawbrook Group PLCultimate parent75–100%
- Shawbrook Bank Limited75–100%
- Thincats Group Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Thincats LimitedFigures not disclosed
Sister companies (11)
- The Mortgage Lender LimitedRev. £48.9m · Profit £12m
- Centric SPV 1 Ltd.Figures not disclosed
- Coachlease LimitedFigures not disclosed
- Hermes Group LimitedFigures not disclosed
- Imployapp LimitedFigures not disclosed
- JBR Capital LimitedFigures not disclosed
- Link Loans LimitedFigures not disclosed
- Resource Partners SPV LimitedFigures not disclosed
- Singer & Friedlander Commercial Finance LimitedFigures not disclosed
- Singers Corporate Asset Finance LimitedFigures not disclosed
- Singers Healthcare Finance LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 30 Jun 2024 (profit −£23.2m), from the Companies House accounts bulk data published Mar 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.