How much does So Code Ltd make?

So Code Ltd reported revenue of £8.5m and £819k profit in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does So Code Ltd have?

So Code Ltd reported an average of 37 employees in the year to 31 Dec 2025.

Is So Code Ltd profitable?

Yes — So Code Ltd reported a profit of £819k in the year to 31 Dec 2025.

Company No. 09877899 · Incorporated 18 Nov 2015

So Code Ltd

Registered name: SO CODE LTD

So Code Ltd made £8.5m revenue and £819k profit in the year to 31 Dec 2025.

So Code Ltd’s revenue fell 22% to £8.5m in the year to 31 Dec 2025, with £819k profit and 37 employees. The company is classified under “other activities of employment placement agencies” and is based in Milton Road; we hold 4 years of its filed accounts.

Full P&L filedSection N · Administrative and support servicesSIC 78109Other activities of employment placement agencies

Status: Active
Location: Milton Road, East of England
Age: 10 yrs · since 2015
Type: Private Limited Company

Latest accounts · year to 31 Dec 2025

Key figures

IndependentCapital-lightCash flow filed

Revenue

£8.5m

Growth ▼22.2%

Profit

£819k

Growth ▼19.8%

Profit margin

9.6%

Gross 45.3%

Employees

Change ▼5.1%

Profit / employee

£22.1k

Revenue/employee £230k

Profitable streak

3yrs

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 Dec 2022	31 Dec 2023	31 Dec 2024	31 Dec 2025
Disclosure	No P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	—	£11.7m	£10.9m	£8.5m
Cost of sales	—	£7.3m	£6.8m	£4.7m
Gross profit	—	£4.5m	£4.2m	£3.9m
Operating profit	—	£1.8m	£1.3m	£973k
Profit before tax	—	£1.9m	£1.4m	£1.1m
Profit after tax	—	£1.5m	£1m	£819k
Profit (best available)	—	£1.5m	£1m	£819k
Staff costs	—	£2.2m	£2.3m	£2.3m
Employees (average)	29	33	39	37
Ratios
Profit margin	—	12.4%	9.3%	9.6%
Gross margin	—	38.2%	38.2%	45.3%
Revenue per employee	—	£356k	£281k	£230k
Profit per employee	—	£44k	£26.2k	£22.1k
Cash conversion	—	60.9%	8.4%	−0.1%
Growth (year on year)
Revenue growth	—	—	▼6.8%	▼22.2%
Profit growth	—	—	▼29.7%	▼19.8%
Headcount growth	—	▲13.8%	▲18.2%	▼5.1%
Balance sheet — indirect signals, not revenue
Cash at bank	£2.5m	£3.5m	£3.5m	£3.4m
Net assets	£4.3m	£5.6m	£6.4m	£7.1m
Fixed assets	£104k	£79.4k	£83.6k	£63.3k
Current assets	£4.6m	£5.9m	£6.8m	£7.5m
Debtors	£1.6m	£1.2m	£1m	£1.3m
Deferred income	£3.8k	£8.9k	£129k	£182k
Cash from operations	—	£1.1m	£109k	−£1.3k
Source	FullAccounts · bulk data Nov 2024	FullAccounts · bulk data Nov 2024	FullAccounts · bulk data Aug 2025	FullAccounts · bulk data Sep 2026

Derived from the latest filing

How the business works

Profit margin: 9.6%; Profit ÷ revenue.
Gross margin: 45.3%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £230k; Revenue ÷ average employees.
Profit per employee: £22.1k; Profit ÷ average employees.
Cash conversion: −0.1%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.7%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 2.1%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 14.8%; 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: ▲11%; Now £7.1m
Cash at bank: ▼1%; Now £3.4m
Headcount: ▼5%; Now 37
Deferred income: ▲42%; Now £182k
Fixed assets: ▼24%; Now £63.3k

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £819k), from the Companies House accounts bulk data published Sep 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.