Azure Topco Limited
Registered name: AZURE TOPCO LIMITED
Part of BDC III GP LLP groupAzure Topco Limited made £46.2m revenue and £593k profit in the year to 31 Mar 2025.
Azure Topco Limited’s revenue grew 7% to £46.2m in the year to 31 Mar 2025, with £593k profit. The company is classified under “activities of other holding companies” and is based in Milton Keynes; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- Milton Keynes
- Age
- 6 yrs · since 2020
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £19.3m | £43.2m | £46.2m |
| Cost of sales | −£5m | −£20.7m | −£22.6m |
| Gross profit | £14.3m | £22.5m | £23.6m |
| Operating profit | £6.9m | £5.4m | £3.8m |
| Profit before tax | £3.3m | £2.9m | £830k |
| Profit after tax | £2.6m | £2.8m | £593k |
| Profit (best available) | £2.6m | £2.8m | £593k |
| Employees (average) | 136 | 400 | — |
| Ratios | |||
| Profit margin | 13.7% | 6.6% | 1.3% |
| Gross margin | 74.3% | 52% | 51.1% |
| Revenue per employee | £142k | £108k | — |
| Profit per employee | £19.5k | £7.1k | — |
| Growth (year on year) | |||
| Revenue growth | — | ▲124.2% | ▲6.8% |
| Profit growth | — | ▲7.1% | ▼79.1% |
| Headcount growth | — | ▲194.1% | — |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Mar 2025 | Accounts · bulk data Mar 2025 | Accounts · bulk data Oct 2025 |
How the business works
- Profit margin
- 1.3%
- Profit ÷ revenue.
- Gross margin
- 51.1%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- 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 —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- BDC III GP LLPultimate parent50–75%
- Azure Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Azure Midco 1 LimitedFigures not disclosed
Sister companies (2)
- Project Vision Topco LimitedRev. £52m · Profit −£8.6m
- Aramis Topco LimitedFigures not disclosed
Minority corporate shareholders
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Mar 2025 (profit £593k), from the Companies House accounts bulk data published Oct 2025. 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.