Project Bluebell (Topco) Limited
Registered name: PROJECT BLUEBELL (TOPCO) LIMITED
Project Bluebell (Topco) Limited made £21.3m revenue and a £659k loss in the year to 31 Oct 2025.
Project Bluebell (Topco) Limited’s revenue grew 33% to £21.3m in the year to 31 Oct 2025, with a loss of £659k and 3 employees. The company is classified under “activities of other holding companies” and is based in Warrington; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Warrington, North West
- Age
- 4 yrs · since 2022
- 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.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Oct 2022 | 31 Oct 2023 | 31 Oct 2024 | 31 Oct 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £6.5m | £11.5m | £16m | £21.3m |
| Cost of sales | £4.7m | £7.6m | £10m | £14.5m |
| Gross profit | £1.8m | £3.9m | £6m | £6.9m |
| Operating profit | −£727k | −£641k | £321k | £263k |
| Profit before tax | −£2.3m | −£3.2m | −£2.3m | −£2.9m |
| Profit after tax | −£396k | −£611k | −£609k | −£659k |
| Profit (best available) | −£396k | −£611k | −£609k | −£659k |
| Staff costs | £43.1k | £57.7k | £62.8k | £79.2k |
| Employees (average) | 243 | 269 | 3 | 3 |
| Ratios | ||||
| Profit margin | −6.1% | −5.3% | −3.8% | −3.1% |
| Gross margin | 27.6% | 34.1% | 37.4% | 32.1% |
| Revenue per employee | £26.9k | £42.8k | £5.3m | £7.1m |
| Profit per employee | −£1.6k | −£2.3k | −£203k | −£220k |
| Cash conversion | — | — | 663.3% | 1081% |
| Growth (year on year) | ||||
| Revenue growth | — | — | ▲39% | ▲33.2% |
| Headcount growth | — | — | ▼98.9% | 0% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £525k | £556k | £1.4m | — |
| Net assets | −£138k | −£749k | −£1.3m | −£2m |
| Fixed assets | £18.7m | £17.6m | £16.9m | £25.5m |
| Current assets | £1.4m | £1.9m | £3.1m | £4.7m |
| Debtors | £596k | £893k | £881k | £1m |
| Cash from operations | £514k | £1.5m | £2.1m | £2.8m |
| Source | Accounts · bulk data Jul 2024 | Accounts · bulk data Jul 2024 | FullAccounts · bulk data Jul 2025 | FullAccounts · bulk data Jul 2026 |
How the business works
- Profit margin
- −3.1%
- Profit ÷ revenue.
- Gross margin
- 32.1%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £7.1m
- Revenue ÷ average employees.
- Profit per employee
- −£220k
- Profit ÷ average employees.
- Cash conversion
- 1081%
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 119.7%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 4.8%
- 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 −£2m
- Cash at bank
- —
- Now —
- Headcount
- 0%
- Now 3
- Deferred income
- —
- Now —
- Fixed assets
- ▲51%
- Now £25.5m
Group structure
Subsidiaries (1)
- Project Bluebell (Midco) LimitedRev. £0 · Profit −£466k
Minority corporate shareholders
- Queen's Park Equity LLP 25–50%
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Oct 2025 (profit −£659k), 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.