Thirdway Holdings Limited
Registered name: THIRDWAY HOLDINGS LIMITED
Thirdway Holdings Limited made £119m revenue and £1.9m profit in the year to 31 Dec 2025.
Thirdway Holdings Limited’s revenue grew 17% to £119m in the year to 31 Dec 2025, with £1.9m profit and 173 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
- 5 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.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £86.7m | £101m | £119m |
| Cost of sales | £63.8m | £73.1m | £85.7m |
| Gross profit | £22.9m | £28.3m | £33.2m |
| Operating profit | £1.9m | £7.2m | £8.9m |
| Profit before tax | £2.2m | £7.1m | £9.5m |
| Profit after tax | −£323k | −£257k | £1.9m |
| Profit (best available) | −£323k | −£257k | £1.9m |
| Staff costs | £14.9m | £14.5m | £16.5m |
| Employees (average) | 165 | 160 | 173 |
| Ratios | |||
| Profit margin | −0.4% | −0.3% | 1.6% |
| Gross margin | 26.4% | 27.9% | 27.9% |
| Revenue per employee | £526k | £634k | £687k |
| Profit per employee | −£2k | −£1.6k | £11k |
| Cash conversion | −127.2% | 79.3% | 80.6% |
| Growth (year on year) | |||
| Revenue growth | — | ▲16.9% | ▲17.3% |
| Headcount growth | — | ▼3% | ▲8.1% |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £2.8m | £5.1m | £8.9m |
| Net assets | −£542k | −£799k | £1.1m |
| Fixed assets | £1.5m | £1.6m | £3.2m |
| Current assets | £30.6m | £40m | £57.4m |
| Debtors | £11.5m | £8.3m | £12.6m |
| Cash from operations | −£2.4m | £5.7m | £7.2m |
| Source | FullAccounts · bulk data Sep 2025 | FullAccounts · bulk data Sep 2025 | FullAccounts · bulk data Sep 2026 |
How the business works
- Profit margin
- 1.6%
- Profit ÷ revenue.
- Gross margin
- 27.9%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £687k
- Revenue ÷ average employees.
- Profit per employee
- £11k
- Profit ÷ average employees.
- Cash conversion
- 80.6%
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 2.7%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 10.6%
- 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 £1.1m
- Cash at bank
- ▲73%
- Now £8.9m
- Headcount
- ▲8%
- Now 173
- Deferred income
- —
- Now —
- Fixed assets
- ▲104%
- Now £3.2m
Group structure
Subsidiaries (1)
- The Thirdway Group LimitedRev. £0 · Profit £12.2m
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £1.9m), 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.