Ncuk Investment Limited
Registered name: NCUK INVESTMENT LIMITED
Part of Public Investment Fund groupNcuk Investment Limited made £335m revenue and a £118m loss in the year to 30 Jun 2025.
Ncuk Investment Limited’s revenue grew 5% to £335m in the year to 30 Jun 2025, with a loss of £118m and 614 employees. The company is classified under “activities of other holding companies” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 6 yrs · since 2020
- 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 | 30 Jun 2023 | 30 Jun 2024 | 30 Jun 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £250m | £320m | £335m |
| Operating profit | −£129m | −£30.5m | −£109m |
| Profit before tax | −£136m | −£42.8m | −£118m |
| Profit after tax | −£124m | −£42.8m | −£118m |
| Profit (best available) | −£124m | −£42.8m | −£118m |
| Employees (average) | 410 | 525 | 614 |
| Ratios | |||
| Profit margin | −49.6% | −13.4% | −35.2% |
| Revenue per employee | £610k | £610k | £546k |
| Profit per employee | −£303k | −£81.5k | −£192k |
| Growth (year on year) | |||
| Revenue growth | — | ▲28% | ▲4.7% |
| Headcount growth | — | ▲28.1% | ▲17% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Jul 2025 | Accounts · bulk data Jul 2025 | Accounts · bulk data Apr 2026 |
How the business works
- Profit margin
- −35.2%
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £546k
- Revenue ÷ average employees.
- Profit per employee
- −£192k
- 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
- ▲17%
- Now 614
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Public Investment Fund (registered outside the UK register)ultimate parent75–100%
- Ncuk Investment Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- PZ Newco LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 30 Jun 2025 (profit −£118m), from the Companies House accounts bulk data published Apr 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.