The India Collection Ltd
Registered name: THE INDIA COLLECTION LTD
Part of Project Victor Holdco Limited groupThe India Collection Ltd made £19m revenue and £4.7m profit in the year to 30 Mar 2025.
The India Collection Ltd’s revenue grew 10% to £19m in the year to 30 Mar 2025, with £4.7m profit and 211 employees. The company is classified under “licensed restaurants” and is based in London; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 28 yrs · since 1998
- 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.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 27 Mar 2022 | 26 Mar 2023 | 31 Mar 2024 | 30 Mar 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £10.5m | £15.6m | £17.3m | £19m |
| Cost of sales | £1.8m | £3m | £3.1m | £3.2m |
| Gross profit | £8.7m | £12.6m | £14.2m | £15.8m |
| Operating profit | £2.4m | £3.2m | £4m | £5.2m |
| Profit before tax | £2.4m | £3.2m | £4m | £5.2m |
| Profit after tax | £2.3m | £3.3m | £3.9m | £4.7m |
| Profit (best available) | £2.3m | £3.3m | £3.9m | £4.7m |
| Staff costs | £4.1m | £5.8m | £6.7m | £6.9m |
| Employees (average) | 150 | 227 | 221 | 211 |
| Ratios | ||||
| Profit margin | 22% | 20.9% | 22.5% | 24.6% |
| Gross margin | 82.5% | 81% | 82.2% | 83.3% |
| Revenue per employee | £70k | £68.5k | £78.1k | £89.9k |
| Profit per employee | £15.4k | £14.3k | £17.6k | £22.1k |
| Cash conversion | 12.3% | 132.2% | 115.4% | 93.5% |
| Growth (year on year) | ||||
| Revenue growth | — | ▲48.2% | ▲10.9% | ▲10% |
| Profit growth | — | ▲40.8% | ▲19.5% | ▲20% |
| Headcount growth | — | ▲51.3% | ▼2.6% | ▼4.5% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £4.9k | £2.6k | £8.5k | £8.3k |
| Net assets | £3.6m | £2.8m | £2.5m | £2.5m |
| Fixed assets | £1.4m | £1.2m | £1.3m | £1.3m |
| Current assets | £2.5m | £2m | £1.8m | £2.3m |
| Debtors | £2.1m | £1.6m | £1.3m | £1.9m |
| Deferred income | £69.5k | £177k | £151k | £165k |
| Cash from operations | £290k | £4.2m | £4.6m | £4.9m |
| Source | Accounts · bulk data Dec 2023 | Accounts · bulk data Dec 2023 | FullAccounts · bulk data Dec 2024 | FullAccounts · bulk data Oct 2025 |
How the business works
- Profit margin
- 24.6%
- Profit ÷ revenue.
- Gross margin
- 83.3%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £89.9k
- Revenue ÷ average employees.
- Profit per employee
- £22.1k
- Profit ÷ average employees.
- Cash conversion
- 93.5%
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 6.7%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 0.9%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 9.8%
- 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
- ▼1%
- Now £2.5m
- Cash at bank
- ▼3%
- Now £8.3k
- Headcount
- ▼5%
- Now 211
- Deferred income
- ▲9%
- Now £165k
- Fixed assets
- ▼4%
- Now £1.3m
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
- Project Victor Holdco Limitedultimate parent75–100%
- MW Eat Ltd75–100%
- The India Collection Ltdthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (1)
- Masala Zone LimitedRev. — · Profit £404k
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from FullAccounts for the year to 30 Mar 2025 (profit £4.7m), from the Companies House accounts bulk data published Oct 2025. Spotted an error? Request a correction.
Updated from Companies House on 14 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.