How much does Noe and Associates Limited make?

Noe and Associates Limited reported revenue of £11.2m and £2.3m profit in the year to 31 Dec 2023, according to its accounts filed at Companies House.

How many employees does Noe and Associates Limited have?

Noe and Associates Limited reported an average of 27 employees in the year to 31 Dec 2023.

Is Noe and Associates Limited profitable?

Yes — Noe and Associates Limited reported a profit of £2.3m in the year to 31 Dec 2023.

Company No. SC423357 · Incorporated 3 May 2012

Noe and Associates Limited

Registered name: NOE AND ASSOCIATES LIMITED

Part of Matcap Ventures LLP group

Noe and Associates Limited made £11.2m revenue and £2.3m profit in the year to 31 Dec 2023.

Noe and Associates Limited’s revenue fell 20% to £11.2m in the year to 31 Dec 2023, with £2.3m profit and 27 employees. The company is classified under “specialised design activities” and is based in Glasgow; we hold 2 years of its filed accounts.

Full P&L filedSection M · Professional, scientific and technical activitiesSIC 74100specialised design activities

Status: Active
Location: Glasgow, Scotland
Age: 14 yrs · since 2012
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. From the filing: “TGHB2 Limited”

Latest accounts · year to 31 Dec 2023

Key figures

Revenue

£11.2m

Growth ▼20.3%

Profit

£2.3m

Growth ▼0.6%

Profit margin

20.9%

Gross 59.7%

Employees

Change ▲42.1%

Profit / employee

£86.6k

Revenue/employee £413k

Profitable streak

2yrs

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 2022	31 Dec 2023
Disclosure	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£14m	£11.2m
Cost of sales	£7.9m	£4.5m
Gross profit	£6.1m	£6.7m
Operating profit	£2.6m	£2.7m
Profit before tax	£2.6m	£2.6m
Profit after tax	£2.4m	£2.3m
Profit (best available)	£2.4m	£2.3m
Staff costs	£2.3m	£3.5m
Employees (average)	19	27
Ratios
Profit margin	16.8%	20.9%
Gross margin	43.8%	59.7%
Revenue per employee	£737k	£413k
Profit per employee	£124k	£86.6k
Growth (year on year)
Revenue growth	—	▼20.3%
Profit growth	—	▼0.6%
Headcount growth	—	▲42.1%
Balance sheet — indirect signals, not revenue
Cash at bank	£1.6m	£837k
Net assets	£1.6m	£3.9m
Fixed assets	£66.8k	£1.7m
Current assets	£7.2m	£8.1m
Debtors	£4.9m	£2.6m
Deferred income	£2.8m	£1.9m
Source	FullAccounts · bulk data Oct 2024	FullAccounts · bulk data Oct 2024

Derived from the latest filing

How the business works

Profit margin: 20.9%; Profit ÷ revenue.
Gross margin: 59.7%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £413k; Revenue ÷ average employees.
Profit per employee: £86.6k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 15%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 17.2%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 23.4%; 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: ▲149%; Now £3.9m
Cash at bank: ▼47%; Now £837k
Headcount: ▲42%; Now 27
Deferred income: ▼32%; Now £1.9m
Fixed assets: ▲2410%; Now £1.7m

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

Matcap Ventures LLPultimate parent75–100%
Together Group Holdings Limited75–100%
TG Midco Limited75–100%
TG Topco Limited75–100%
Tghb2 Limited75–100%
Noe and Associates Limitedthis company

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

Sister companies (2)

Construct London LimitedRev. £4.9m · Profit £1.6m
Hot Pot Group LimitedRev. — · Profit −£141k

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

Same industry, similar size

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2023 (profit £2.3m), from the Companies House accounts bulk data published Oct 2024. Spotted an error? Request a correction.

Updated from Companies House on 15 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.