Project Thor Topco Limited
Registered name: PROJECT THOR TOPCO LIMITED
Part of Cbpe Capital LLP groupProject Thor Topco Limited made a £1.6m loss in the year to 31 Mar 2025 (revenue not disclosed).
Project Thor Topco Limited reported a loss of £1.6m in the year to 31 Mar 2025; its revenue was not disclosed. It had 4 employees. The company is classified under “activities of other holding companies” and is based in Salford; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- Salford, North West
- Age
- 2 yrs · since 2023
- 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
This company published its profit but not its turnover, so revenue and margins are not disclosed. We never estimate them.
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|
| Disclosure | Profit only | Profit only |
| Profit & loss | ||
| Revenue (turnover) | — | — |
| Profit after tax | −£411k | −£1.6m |
| Profit (best available) | −£411k | −£1.6m |
| Employees (average) | 4 | 4 |
| Ratios | ||
| Profit margin | — | — |
| Profit per employee | −£103k | −£404k |
| Growth (year on year) | ||
| Headcount growth | — | 0% |
| Balance sheet — indirect signals, not revenue | ||
| Cash at bank | — | £7k |
| Net assets | £551k | −£771k |
| Fixed assets | £1 | — |
| Current assets | £28m | £30.4m |
| Debtors | £28m | £30.4m |
| Deferred income | £4.1k | £787 |
| Source | FullAccounts · bulk data Dec 2024 | FullAccounts · bulk data Dec 2025 |
How the business works
- Profit margin
- —
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- −£404k
- 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
- ▼240%
- Now −£771k
- Cash at bank
- —
- Now £7k
- Headcount
- 0%
- Now 4
- Deferred income
- ▼81%
- Now £787
- Fixed assets
- —
- Now —
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- Cbpe Capital LLPultimate parent50–75%
- Project Thor Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Project Thor Noteco LimitedRev. — · Profit −£1.2m
Sister companies (29)
- Apollo 2024 Topco LimitedRev. £1.2bn · Profit −£11.2m
- Veincentre Group LtdRev. £21.1m · Profit −£8.7m
- AI Topco LimitedFigures not disclosed
- Banyard Independent Advice Services LtdFigures not disclosed
- Blatchford Central Services LimitedFigures not disclosed
- Bridge Topco UK LimitedFigures not disclosed
- Cairn Nexus LimitedFigures not disclosed
- Cbpe Capital IX Founders LPFigures not disclosed
- Cbpe Holdings LimitedFigures not disclosed
- Cbpe Nominees LimitedFigures not disclosed
- Clifton Asset Management LimitedFigures not disclosed
- Clifton Wealth Partnership (Ipswich) LtdFigures not disclosed
- Cutting & Carter LimitedFigures not disclosed
- Dukes Independent Financial Advisers LtdFigures not disclosed
- Evolution Finco LimitedFigures not disclosed
- Evolution Midco LimitedFigures not disclosed
- JRW Financial Management LtdFigures not disclosed
- Lifestyle Pensions and Investments LtdFigures not disclosed
- Project Orion Topco LimitedFigures not disclosed
- Ralph Finco LimitedRev. — · Profit −£1.2m
- Six Q Financial Planning LimitedFigures not disclosed
- Swift Topco LimitedFigures not disclosed
- Tetraprism Topco LimitedRev. — · Profit £16.1k
- Trowbridge Topco LimitedFigures not disclosed
- Unity Topco LimitedFigures not disclosed
- Veincentre Bidco LtdFigures not disclosed
- Veincentre Holdings LtdFigures not disclosed
- Veincentre Midco LtdFigures not disclosed
- Wilcox Financial Planning LtdFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Mar 2025 (profit −£1.6m), from the Companies House accounts bulk data published Dec 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.