PSG Topco Limited
Registered name: PSG TOPCO LIMITED
Part of Apiary Capital Partners II GP LLP groupPSG Topco Limited made £4.1m revenue and £29.5k profit in the year to 31 Mar 2025.
PSG Topco Limited’s revenue was £4.1m in the year to 31 Mar 2025, with £29.5k profit and 91 employees. The company is classified under “activities of other holding companies” and is based in London.
- Status
- Active
- Location
- London, London
- Age
- 2 yrs · since 2024
- 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 Mar 2025 |
|---|---|
| Disclosure | Full P&L |
| Profit & loss | |
| Revenue (turnover) | £4.1m |
| Cost of sales | £1.9m |
| Gross profit | £2.2m |
| Operating profit | −£235k |
| Profit before tax | −£2.2m |
| Profit after tax | £29.5k |
| Profit (best available) | £29.5k |
| Staff costs | £2.2m |
| Employees (average) | 91 |
| Ratios | |
| Profit margin | 0.7% |
| Gross margin | 52.9% |
| Revenue per employee | £44.9k |
| Profit per employee | £324 |
| Balance sheet — indirect signals, not revenue | |
| Cash at bank | £1.7m |
| Net assets | £472k |
| Fixed assets | £21.7m |
| Current assets | £3.1m |
| Debtors | £1.2m |
| Cash from operations | £2.3m |
| Source | FullAccounts · bulk data Dec 2025 |
How the business works
- Profit margin
- 0.7%
- Profit ÷ revenue.
- Gross margin
- 52.9%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £44.9k
- Revenue ÷ average employees.
- Profit per employee
- £324
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 531.5%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 29.4%
- 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 £472k
- Cash at bank
- —
- Now £1.7m
- Headcount
- —
- Now 91
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now £21.7m
Group structure
Ownership chain
- Apiary Capital Partners II GP LLPultimate parent75–100%
- PSG Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- PSG Midco LimitedRev. £0 · Profit £126k
Sister companies (6)
- Ionic Nomineeco LimitedFigures not disclosed
- Project Pioneer Nomineeco LimitedFigures not disclosed
- Project Pioneer Topco LimitedRev. — · Profit £3.8k
- Project Solent Topco LimitedFigures not disclosed
- Spanish Point Technologies UK LimitedFigures not disclosed
- Yamazaki Bidco LimitedFigures 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 £29.5k), 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.