Synertec (Holdings) Limited
Registered name: SYNERTEC (HOLDINGS) LIMITED
Part of Restore Plc groupSynertec (Holdings) Limited made £60.2m revenue and £3.2m profit in the year to 31 Mar 2024.
Synertec (Holdings) Limited’s revenue fell 8% to £60.2m in the year to 31 Mar 2024, with £3.2m profit and 291 employees. The company is classified under “activities of other holding companies” and is based in Wellington; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- Wellington, South West
- Age
- 7 yrs · since 2019
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
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 Mar 2023 | 31 Mar 2024 |
|---|---|---|
| Disclosure | Full P&L | Full P&L |
| Profit & loss | ||
| Revenue (turnover) | £65.7m | £60.2m |
| Cost of sales | £42.7m | £38.4m |
| Gross profit | £22.9m | £21.8m |
| Operating profit | £3.4m | £849k |
| Profit before tax | £2.4m | −£322k |
| Profit after tax | £5.7m | £3.2m |
| Profit (best available) | £5.7m | £3.2m |
| Staff costs | £12.1m | £13.6m |
| Employees (average) | 269 | 291 |
| Ratios | ||
| Profit margin | 8.6% | 5.3% |
| Gross margin | 34.9% | 36.2% |
| Revenue per employee | £244k | £207k |
| Profit per employee | £21k | £11k |
| Cash conversion | 194.9% | 461.2% |
| Growth (year on year) | ||
| Revenue growth | — | ▼8.4% |
| Profit growth | — | ▼43.3% |
| Headcount growth | — | ▲8.2% |
| Balance sheet — indirect signals, not revenue | ||
| Cash at bank | £16.9k | £175 |
| Net assets | £17.2m | £20.4m |
| Fixed assets | £23.7m | £20.6m |
| Current assets | £16.9k | £20.1k |
| Debtors | £5.4m | £6.1m |
| Cash from operations | £6.6m | £3.9m |
| Source | Accounts · bulk data Jul 2024 | Accounts · bulk data Jul 2024 |
How the business works
- Profit margin
- 5.3%
- Profit ÷ revenue.
- Gross margin
- 36.2%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £207k
- Revenue ÷ average employees.
- Profit per employee
- £11k
- Profit ÷ average employees.
- Cash conversion
- 461.2%
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 34.3%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 10.1%
- 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
- ▲19%
- Now £20.4m
- Cash at bank
- ▼99%
- Now £175
- Headcount
- ▲8%
- Now 291
- Deferred income
- —
- Now —
- Fixed assets
- ▼13%
- Now £20.6m
Group structure
Ownership chain
- Restore Plc (registered outside the UK register)ultimate parent75–100%
- Synertec (Holdings) Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (2)
- Synertec LimitedRev. £60.2m · Profit £2.6m
- MPS Marketing Services LtdFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Mar 2024 (profit £3.2m), from the Companies House accounts bulk data published Jul 2024. 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.