How much does Turnmill Limited make?

Turnmill Limited reported revenue of £745k and a loss of £9.2m in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does Turnmill Limited have?

Turnmill Limited reported an average of 2,024 employees in the year to 31 Dec 2025.

Is Turnmill Limited profitable?

No — Turnmill Limited reported a loss of £9.2m in the year to 31 Dec 2025.

Company No. 15454189 · Incorporated 30 Jan 2024

Turnmill Limited

Registered name: TURNMILL LIMITED

Part of Horizon Capital II GP LLP group

Turnmill Limited made £745k revenue and a £9.2m loss in the year to 31 Dec 2025. read from filing text

Turnmill Limited’s revenue grew 257% to £745k in the year to 31 Dec 2025, with a loss of £9.2m and 2,024 employees. The company is classified under “other business support service activities” and is based in London; we hold 2 years of its filed accounts.

Full P&L filedSection N · Administrative and support servicesSIC 82990Other business support service activities n.e.c.

Status: Active
Location: London, London
Age: 2 yrs · since 2024
Type: Private Limited Company

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.

Latest accounts · year to 31 Dec 2025

Key figures

Revenue

£745k

Growth ▲257%

Profit

−£9.2m

Growth —

Profit margin

−1229%

Employees

2,024

Change —

Profit / employee

−£4.5k

Revenue/employee £368

Profitable streak

0yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

2 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2024	31 Dec 2025
Disclosure	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£209k	£745k
Operating profit	−£1.4m	−£6.2m
Profit before tax	−£4.6m	−£10.2m
Profit after tax	−£3.4m	−£9.2m
Profit (best available)	−£3.4m	−£9.2m
Staff costs	£225k	£685k
Employees (average)	—	2,024
Ratios
Profit margin	−1642%	−1229%
Revenue per employee	—	£368
Profit per employee	—	−£4.5k
Growth (year on year)
Revenue growth	—	▲257%
Balance sheet — indirect signals, not revenue
Cash at bank	£12.3k	£43.9k
Net assets	−£3.4m	−£12.6m
Fixed assets	£36.1m	£30.6m
Current assets	£4.3m	£7.9m
Debtors	£4.3m	£7.9m
Deferred income	£318k	£109k
Source	FullAccounts · bulk data Jul 2026	FullAccounts · bulk data Jul 2026

Derived from the latest filing

How the business works

Profit margin: −1229%; Profit ÷ revenue.
Gross margin: —; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £368; Revenue ÷ average employees.
Profit per employee: −£4.5k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 4107%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 14.6%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 1055%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

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 −£12.6m
Cash at bank: ▲258%; Now £43.9k
Headcount: —; Now 2,024
Deferred income: ▼66%; Now £109k
Fixed assets: ▼15%; Now £30.6m

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Horizon Capital II GP LLPultimate parent75–100%
Turnmill Topco Limited75–100%
Turnmill Holdco Limited75–100%
Turnmill Midco Limited75–100%
Turnmill Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Subsidiaries (2)

GB&M LimitedRev. £10.2m · Profit £1.9m
Gro Events LtdFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit −£9.2m), from the Companies House accounts bulk data published Jul 2026. Spotted an error? Request a correction.

Updated from Companies House on 13 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.