Pcarbon Topco Limited
Registered name: PCARBON TOPCO LIMITED
Part of Volpi Capital LLP groupPcarbon Topco Limited made £85m revenue and £4.5m profit in the year to 31 Dec 2024.
Pcarbon Topco Limited’s revenue was £85m in the year to 31 Dec 2024, with £4.5m profit and 331 employees. The company is classified under “activities of other holding companies” and is based in Altrincham; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- Altrincham, 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.
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: “Volpi Capital LLP”
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 21 Sep 2022 | 31 Dec 2023 | 31 Dec 2024 |
|---|---|---|---|
| Disclosure | No P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | — | £61.5m | £85m |
| Cost of sales | — | £32.4m | £42.6m |
| Gross profit | — | £2.9m | £42.4m |
| Operating profit | — | −£2.9m | −£337k |
| Profit after tax | — | −£1.2m | £4.5m |
| Profit (best available) | — | −£1.2m | £4.5m |
| Staff costs | — | £21.1m | £32.7m |
| Employees (average) | — | 221 | 331 |
| Ratios | |||
| Profit margin | — | −1.9% | 5.3% |
| Gross margin | — | 4.8% | 49.8% |
| Revenue per employee | — | £278k | £257k |
| Profit per employee | — | −£5.4k | £13.6k |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £0 | £0 | £0 |
| Net assets | — | £2m | −£2.5m |
| Current assets | — | £30.4m | £33.4m |
| Debtors | — | £0 | £19.8m |
| Deferred income | — | £0 | £0 |
| Cash from operations | — | −£3m | −£3.7m |
| Source | FullAccounts · bulk data Mar 2025 | FullAccounts · bulk data Mar 2025 | FullAccounts · bulk data Sep 2025 |
How the business works
- Profit margin
- 5.3%
- Profit ÷ revenue.
- Gross margin
- 49.8%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £257k
- Revenue ÷ average employees.
- Profit per employee
- £13.6k
- 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
- 0%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 23.3%
- 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 −£2.5m
- Cash at bank
- —
- Now £0
- Headcount
- —
- Now 331
- Deferred income
- —
- Now £0
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Volpi Capital LLPultimate parent50–75%
- Pcarbon Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Pcarbon Bidco LimitedRev. £929k · Profit −£4.6m
Sister companies (6)
- Asolvi UK LimitedFigures not disclosed
- Foxy Elephant LimitedFigures not disclosed
- TDS Ultra LimitedFigures not disclosed
- Volpi Capital Conti Founder GP LLPFigures not disclosed
- Volpi Capital Investments Conti LimitedFigures not disclosed
- Volpi Capital Services LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Dec 2024 (profit £4.5m), from the Companies House accounts bulk data published Sep 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.