How much does I3works Ltd make?

I3works Ltd reported revenue of £38.1m and £2.6m profit in the year to 31 Jul 2025, according to its accounts filed at Companies House.

How many employees does I3works Ltd have?

I3works Ltd reported an average of 142 employees in the year to 31 Jul 2025.

Is I3works Ltd profitable?

Yes — I3works Ltd reported a profit of £2.6m in the year to 31 Jul 2025.

Company No. SC477423 · Incorporated 12 May 2014

I3works Ltd

Registered name: I3WORKS LTD

Part of I3capital Ltd group

I3works Ltd made £38.1m revenue and £2.6m profit in the year to 31 Jul 2025.

I3works Ltd’s revenue grew 40% to £38.1m in the year to 31 Jul 2025, with £2.6m profit and 142 employees. The company is classified under “management consultancy activities other than financial management” and is based in Glasgow; we hold 4 years of its filed accounts.

Full P&L filedSection M · Professional, scientific and technical activitiesSIC 70229Management consultancy activities other than financial management

Status: Active
Location: Glasgow, Scotland
Age: 12 yrs · since 2014
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: “i3Capital Ltd”

Latest accounts · year to 31 Jul 2025

Key figures

Capital-lightOperating leverageDoing more with lessCash flow filed

Revenue

£38.1m

Growth ▲39.5%

Profit

£2.6m

Growth ▲59.7%

Profit margin

6.9%

Gross 19.5%

Employees

142

Change ▼2.7%

Profit / employee

£18.6k

Revenue/employee £269k

Profitable streak

4yrs

Consecutive profitable years in our data

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

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Jul 2022	31 Jul 2023	31 Jul 2024	31 Jul 2025
Disclosure	Full P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£9.8m	£16.8m	£27.3m	£38.1m
Cost of sales	£9.1m	£15.3m	£23.2m	£30.7m
Gross profit	£628k	£1.5m	£4.1m	£7.4m
Operating profit	£213k	£767k	£2.2m	£3.5m
Profit before tax	£214k	£772k	£2.2m	£3.5m
Profit after tax	£178k	£601k	£1.7m	£2.6m
Profit (best available)	£178k	£601k	£1.7m	£2.6m
Staff costs	£5.1m	£8.1m	£8.2m	£9m
Employees (average)	77	115	146	142
Ratios
Profit margin	1.8%	3.6%	6%	6.9%
Gross margin	6.4%	9%	15.1%	19.5%
Revenue per employee	£127k	£146k	£187k	£269k
Profit per employee	£2.3k	£5.2k	£11.3k	£18.6k
Cash conversion	−14.2%	−16.9%	126.8%	87%
Growth (year on year)
Revenue growth	—	▲71.6%	▲63.1%	▲39.5%
Profit growth	—	▲237.3%	▲174.6%	▲59.7%
Headcount growth	—	▲49.4%	▲27%	▼2.7%
Balance sheet — indirect signals, not revenue
Cash at bank	£1.8m	£1.2m	£3.8m	£6.3m
Net assets	£2.5m	£2.8m	£4.3m	£7m
Fixed assets	£181k	£196k	£340k	£120k
Current assets	£3.4m	£5.3m	£8.7m	£11.3m
Debtors	£1.5m	£3.1m	£4.6m	£4.1m
Deferred income	£78.4k	£666k	£1.9m	£1.7m
Cash from operations	−£30.3k	−£129k	£2.8m	£3.1m
Source	FullAccounts · bulk data Apr 2024	FullAccounts · bulk data Apr 2024	FullAccounts · bulk data Jan 2025	FullAccounts · bulk data Mar 2026

Derived from the latest filing

How the business works

Profit margin: 6.9%; Profit ÷ revenue.
Gross margin: 19.5%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £269k; Revenue ÷ average employees.
Profit per employee: £18.6k; Profit ÷ average employees.
Cash conversion: 87%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.3%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 4.6%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 10.8%; 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: ▲61%; Now £7m
Cash at bank: ▲63%; Now £6.3m
Headcount: ▼3%; Now 142
Deferred income: ▼7%; Now £1.7m
Fixed assets: ▼65%; Now £120k

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

I3capital Ltdultimate parent75–100%
I3works Ltdthis company

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

Sister companies (2)

I3data LtdFigures not disclosed
I3netzero 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 Jul 2025 (profit £2.6m), from the Companies House accounts bulk data published Mar 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.