Canis Topco Limited
Registered name: CANIS TOPCO LIMITED
Part of Equistone LLP groupCanis Topco Limited made £736m revenue and a £21.1m loss in the year to 31 Dec 2025.
Canis Topco Limited’s revenue fell 6% to £736m in the year to 31 Dec 2025, with a loss of £21.1m and 455 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
- 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 Dec 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £606m | £780m | £736m |
| Cost of sales | −£534m | −£693m | −£634m |
| Gross profit | £71.6m | £86.4m | £102m |
| Operating profit | £1.5m | £7.3m | £13m |
| Profit before tax | −£18.4m | −£16.9m | −£15.3m |
| Profit after tax | −£21.7m | −£20.8m | −£21.1m |
| Profit (best available) | −£21.7m | −£20.8m | −£21.1m |
| Employees (average) | 329 | 415 | 455 |
| Ratios | |||
| Profit margin | −3.6% | −2.7% | −2.9% |
| Gross margin | 11.8% | 11.1% | 13.8% |
| Revenue per employee | £1.8m | £1.9m | £1.6m |
| Profit per employee | −£65.8k | −£50.1k | −£46.5k |
| Growth (year on year) | |||
| Revenue growth | — | ▲28.7% | ▼5.7% |
| Headcount growth | — | ▲26.1% | ▲9.6% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Jul 2025 | Accounts · bulk data Jul 2025 | Accounts · bulk data Jul 2026 |
How the business works
- Profit margin
- −2.9%
- Profit ÷ revenue.
- Gross margin
- 13.8%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £1.6m
- Revenue ÷ average employees.
- Profit per employee
- −£46.5k
- 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
- ▲10%
- Now 455
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Equistone LLPultimate parent75–100%
- Equistone Private Equity Limited75–100%
- Equistone Partners Europe Limited50–75%
- Canis Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Canis Midco LimitedFigures not disclosed
Sister companies (8)
- Plaza Topco LimitedRev. £96.2m · Profit −£27.6m
- Bosworth Newco 1 LimitedRev. £53m · Profit −£8m
- Bosworth Newco 2 LimitedFigures not disclosed
- Equistone General Partner (Carry and Co-Invest) V LLPFigures not disclosed
- Equistone General Partner IV LimitedFigures not disclosed
- Equistone General Partner LimitedFigures not disclosed
- Fusion Topco LimitedFigures not disclosed
- Nep Newco 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 −£21.1m), from the Companies House accounts bulk data published Jul 2026. Spotted an error? Request a correction.
Updated from Companies House on 15 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.