Athena Topco Limited
Registered name: ATHENA TOPCO LIMITED
Part of Tenzing Limited groupAthena Topco Limited made £21.7m revenue and a £17.7m loss in the year to 31 Mar 2025.
Athena Topco Limited’s revenue was £21.7m in the year to 31 Mar 2025, with a loss of £17.7m and 153 employees. The company is classified under “activities of other holding companies” and is based in Brighton; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- Brighton
- Age
- 3 yrs · since 2023
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|
| Disclosure | Full P&L | Full P&L |
| Profit & loss | ||
| Revenue (turnover) | £8m | £21.7m |
| Cost of sales | −£1.2m | −£5m |
| Gross profit | £6.8m | £16.7m |
| Operating profit | −£2.2m | −£10.6m |
| Profit before tax | −£9m | −£19m |
| Profit after tax | −£7.4m | −£17.7m |
| Profit (best available) | −£7.4m | −£17.7m |
| Employees (average) | 106 | 153 |
| Ratios | ||
| Profit margin | −92.8% | −81.7% |
| Gross margin | 85% | 76.9% |
| Revenue per employee | £75.3k | £142k |
| Profit per employee | −£69.8k | −£116k |
| Balance sheet — indirect signals, not revenue | ||
| Net assets | — | — |
| Source | Accounts · bulk data Aug 2025 | Accounts · bulk data May 2026 |
How the business works
- Profit margin
- −81.7%
- Profit ÷ revenue.
- Gross margin
- 76.9%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £142k
- Revenue ÷ average employees.
- Profit per employee
- −£116k
- 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 153
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Tenzing Limitedultimate parent75–100%
- Tenzing Pe Managing Member Ltd75–100%
- Tenzing Pe III GP LLP75–100%
- Athena Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Athena Midco LimitedFigures not disclosed
Sister companies (5)
- Project Cerulean Bidco LimitedFigures not disclosed
- Project Edge UK Topco LimitedRev. — · Profit −£37.7k
- Project Semaphore Topco LimitedFigures not disclosed
- Project Wind Topco LimitedFigures not disclosed
- Project Zebedee Topco LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Mar 2025 (profit −£17.7m), from the Companies House accounts bulk data published May 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.