Password Services Air Conditioning Limited
Registered name: PASSWORD SERVICES AIR CONDITIONING LIMITED
Part of Johnson Controls International Plc groupPassword Services Air Conditioning Limited made £4.5m revenue and a £251k loss in the year to 30 Sep 2025.
Password Services Air Conditioning Limited’s revenue was £4.5m in the year to 30 Sep 2025, with a loss of £251k and 52 employees. The company is classified under “other business support service activities” and is based in Manchester; we hold 5 years of its filed accounts.
- Status
- Active
- Location
- Manchester, North West
- Age
- 26 yrs · since 1999
- 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 | 31 Jan 2022 | 31 Jan 2023 | 31 Jan 2024 | 31 Jan 2025 | 30 Sep 2025 |
|---|---|---|---|---|---|
| Disclosure | No P&L | No P&L | No P&L | Full P&L | Full P&L |
| Profit & loss | |||||
| Revenue (turnover) | — | — | — | £9.3m | £4.5m |
| Cost of sales | — | — | — | £6.1m | £3.2m |
| Gross profit | — | — | — | £3.3m | £1.2m |
| Operating profit | — | — | — | £1.3m | −£573k |
| Profit before tax | — | — | — | £927k | −£251k |
| Profit after tax | — | — | — | £585k | −£251k |
| Profit (best available) | — | — | — | £585k | −£251k |
| Employees (average) | 44 | 48 | 47 | 56 | 52 |
| Ratios | |||||
| Profit margin | — | — | — | 6.3% | −5.6% |
| Gross margin | — | — | — | 35% | 27.8% |
| Revenue per employee | — | — | — | £167k | £86.5k |
| Profit per employee | — | — | — | £10.4k | −£4.8k |
| Growth (year on year) | |||||
| Headcount growth | — | — | ▼2.1% | ▲19.1% | — |
| Balance sheet — indirect signals, not revenue | |||||
| Cash at bank | £636k | £749k | £1.5m | — | — |
| Net assets | £1.2m | £1.9m | £2.2m | — | — |
| Fixed assets | £238k | £367k | £438k | — | — |
| Current assets | £2.1m | £2.5m | £3.6m | — | — |
| Debtors | £516k | £626k | £1.1m | — | — |
| Source | Accounts · bulk data Oct 2023 | Accounts · bulk data Oct 2023 | FullAccounts · bulk data Sep 2024 | Accounts · bulk data Nov 2025 | Accounts · bulk data Oct 2026 |
How the business works
- Profit margin
- −5.6%
- Profit ÷ revenue.
- Gross margin
- 27.8%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £86.5k
- Revenue ÷ average employees.
- Profit per employee
- −£4.8k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- 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 —
- Cash at bank
- —
- Now —
- Headcount
- —
- Now 52
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Johnson Controls International Plc (registered outside the UK register)ultimate parent75–100%
- Tyco Holdings (U.K.) Limited75–100%
- Johnson Controls Building Efficiency UK Limited75–100%
- Password Services (Holdings) Limited75–100%
- Password Services Air Conditioning Limitedthis company
Bands show the share of ownership each company holds in the one below it.
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from accounts for the year to 30 Sep 2025 (profit −£251k), from the Companies House accounts bulk data published Oct 2026. Spotted an error? Request a correction.
Updated from Companies House on 17 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.