Picasso Topco Limited
Registered name: PICASSO TOPCO LIMITED
Part of Bridgepoint Group Holdings Limited groupPicasso Topco Limited made £309m revenue and a £101m loss in the year to 31 Dec 2025.
Picasso Topco Limited’s revenue was £309m in the year to 31 Dec 2025, with a loss of £101m. The company is classified under “activities of other holding companies” and is based in Birmingham; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Birmingham, West Midlands
- 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.
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 Aug 2023 | 31 Aug 2024 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £163m | £181m | £181m | £309m |
| Cost of sales | −£63.3m | −£69.8m | −£69.8m | −£103m |
| Gross profit | £99.6m | £111m | £111m | £207m |
| Operating profit | −£42.6m | −£11.2m | −£11.2m | −£24.7m |
| Profit before tax | −£85m | −£59.4m | −£59.4m | −£110m |
| Profit after tax | −£80.3m | −£57.2m | −£57.2m | −£101m |
| Profit (best available) | −£80.3m | −£57.2m | −£57.2m | −£101m |
| Employees (average) | 1,210 | 1,320 | — | — |
| Ratios | ||||
| Profit margin | −49.3% | −31.6% | −31.6% | −32.7% |
| Gross margin | 61.2% | 61.5% | 61.5% | 66.8% |
| Revenue per employee | £135k | £137k | — | — |
| Profit per employee | −£66.3k | −£43.3k | — | — |
| Growth (year on year) | ||||
| Revenue growth | — | ▲11.3% | — | — |
| Headcount growth | — | ▲9.1% | — | — |
| Balance sheet — indirect signals, not revenue | ||||
| Net assets | — | — | — | — |
| Source | Accounts · bulk data Jun 2025 | Accounts · bulk data Jun 2025 | Accounts · bulk data Sep 2026 | Accounts · bulk data Sep 2026 |
How the business works
- Profit margin
- −32.7%
- Profit ÷ revenue.
- Gross margin
- 66.8%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- 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
- —
- Now —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Bridgepoint Group Holdings Limitedultimate parent75–100%
- Bridgepoint Advisers Group Limited75–100%
- Bridgepoint Advisers Holdings75–100%
- Be VI Nominees II Limited50–75%
- Picasso Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Picasso Midco 1 LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2025 (profit −£101m), 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.