TP ICAP MARKETS LIMITED
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Cash
£37M
-48.6% vs 2024
Net assets
£534M
+23% highest in 3 filed years
Employees
49
-2% vs 2024
Profit before tax
£22M
-10.4% vs 2024
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £66,097,000 | £72,625,000 | £75,329,000 | +3.7% | |
| Operating profit | £13,476,000 | £18,914,000 | £14,791,000 | -21.8% | |
| Profit before tax | £11,745,000 | £24,923,000 | £22,339,000 | -10.4% | |
| Net profit | £7,406,000 | £18,090,000 | £16,357,000 | -9.6% | |
| Cash | £21,673,000 | £71,395,000 | £36,715,000 | -48.6% | |
| Total assets less current liabilities | £420,643,000 | £434,558,000 | — | — | |
| Net assets | £420,643,000 | £434,558,000 | £534,401,000 | +23% | |
| Equity | £420,643,000 | £434,558,000 | £534,401,000 | +23% | |
| Average employees | 49 | 50 | 49 | -2% | |
| Wages | £20,694,000 | £23,416,000 | £24,222,000 | +3.4% | |
| Directors' remuneration | £146,000 | £123,000 | £220,000 | +78.9% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 20.4% | 26.0% | 19.6% | |
| Net margin | 11.2% | 24.9% | 21.7% | |
| Return on capital employed | 3.2% | 4.4% | — | |
| Gearing (liabilities / total assets) | 11.9% | 14.4% | 66.3% | |
| Current ratio | 4.11x | 3.60x | 1.28x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 8 times since incorporation
- TP ICAP MARKETS LIMITED 2021-04-30 → present
- ICAP SECURITIES LIMITED 2004-05-21 → 2021-04-30
- GARBAN SECURITIES LIMITED 1999-11-05 → 2004-05-21
- GARBAN - INTERCAPITAL SECURITIES LIMITED 1999-11-01 → 1999-11-05
- GARBAN SECURITIES LIMITED 1998-10-01 → 1999-11-01
- GARBAN EUROPE LIMITED 1991-06-01 → 1998-10-01
- GUY BUTLER (EUROPE) LIMITED 1981-01-16 → 1991-06-01
- LONDON WALL PARTICIPATIONS LIMITED 1968-03-27 → 1981-01-16
- TIDEWAY PACKING COMPANY LIMITED 1951-10-27 → 1968-03-27
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have a reasonable expectation that the Company will be able to meet its obligations and liabilities as they fall due for at least 12 months from the approval of the financial statements and for the foreseeable future. Thus, they adopt the going concern basis in preparing the financial statements.”
Group structure
- TP ICAP MARKETS LIMITED · parent
- ICAP Holdings (UK) Limited 100%
Significant events
- “As part of the Group's strategy to consolidate certain trading and broking activities in EMEA, certain operational activities from Liquidnet Europe Limited, a fellow subsidiary in the Group, were transferred to the Company in February 2026.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 57 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KAVENEY, Karen | Secretary | 2025-12-12 | — | — |
| YOUNG, Ceri Joanne Charles | Secretary | 2023-05-03 | — | — |
| BLACKBURN, Christopher | Director | 2025-09-18 | Dec 1977 | British |
| FERGUSON, William David | Director | 2025-09-12 | Aug 1967 | British |
| MCGAHAN, Peter Charles | Director | 2025-03-01 | Jan 1967 | British |
| MEAGER, Joanna Mary | Director | 2023-11-01 | Jan 1967 | British |
| MOORE, Colette Tamar Zakarian | Director | 2026-05-14 | Aug 1977 | British |
| ROZES, Christian Sebastien | Director | 2022-07-01 | Jul 1967 | French |
| SPARKE, Stephen Howard | Director | 2020-03-23 | May 1958 | British |
Show 57 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ABREHART, Deborah Anne | Secretary | 2006-06-02 | 2016-09-01 |
| BARHAM, Pamela Margaret | Secretary | — | 1998-04-24 |
| BRILL, Tiffany Fern | Secretary | 2017-04-06 | 2017-07-21 |
| BROOMFIELD, Helen Frances | Secretary | 2000-12-04 | 2004-01-05 |
| DICKINSON, Kathryn | Secretary | 2004-01-05 | 2006-06-02 |
| DUNCAN, Virginia | Secretary | 2016-09-01 | 2017-04-06 |
| EGGLETON, Jeanette | Secretary | 1998-04-24 | 2000-09-29 |
| HART, Victoria Louise | Secretary | 2024-09-23 | 2026-03-18 |
| PANK, Edward Charles, Dr | Secretary | 2000-09-29 | 2000-12-04 |
| SAYERS, Catherine | Secretary | 2022-04-01 | 2023-05-03 |
| WYSE, Christine | Secretary | 2020-12-11 | 2021-12-01 |
| YOUNG, Ceri Joanne Charles | Secretary | 2019-10-18 | 2022-04-01 |
| BASHENKO, Alla | Director | 2022-01-01 | 2023-03-21 |
| BOWEN, Edward Tyler | Director | — | 2008-10-23 |
| BRETEAU, Nicolas Noel Andre | Director | 2018-11-30 | 2021-11-15 |
| BRIDEL, Claire Marie Michel | Director | 2020-04-25 | 2021-05-05 |
| CASTERTON, David Anthony | Director | 2008-06-18 | 2018-12-06 |
| CLARKE, Stuart | Director | — | 1996-04-04 |
| CRUWYS, Vanessa Elaine | Director | 2000-08-01 | 2013-09-13 |
| DARGAN, Nicholas James | Director | 2013-06-01 | 2016-12-30 |
| FIELDS, Daniel Raymond | Director | 2022-07-01 | 2023-06-09 |
| FORD, Thomas Ernest | Director | 1994-08-25 | 1998-06-30 |
| GELBER, David | Director | 2000-02-18 | 2005-07-13 |
| GREGSON, Charles Henry | Director | — | 2001-08-01 |
| HILL, Graham Roger | Director | 1998-07-01 | 1999-09-09 |
| HUMPHREY, Paul | Director | 1999-01-04 | 1999-09-14 |
| KELLY, Alan | Director | 2019-10-18 | 2021-12-01 |
| KIDD, Timothy Charles | Director | 2008-10-23 | 2012-05-31 |
| LEVI, Ronald Daniel | Director | — | 1993-07-19 |
| LYNCH, Martin | Director | 2020-04-17 | 2020-11-20 |
| MACDONALD, George | Director | 2001-08-01 | 2008-06-18 |
| MAYHEW, Lucy Rachel | Director | 2020-04-25 | 2020-09-01 |
| MCCLUMPHA, Donald Stuart | Director | 2020-09-01 | 2022-06-30 |
| MCMENEMY, Paul Christopher | Director | 1999-01-04 | 2006-03-31 |
| MCMILLAN, Stephen John | Director | — | 1999-09-01 |
| MELIA, Ian Charles | Director | 1993-10-18 | 1998-08-31 |
| MODLOCK, Brian Terence | Director | — | 1994-06-06 |
| O'TOOLE, Peter John | Director | 2006-07-26 | 2010-07-26 |
| PEARCE, Stephen Edward William | Director | 1998-08-31 | 1999-10-20 |
| PENDRED, Charles Graham | Director | — | 1998-04-30 |
| PETTIGREW, James Neilson, Mr. | Director | 1999-10-14 | 2006-06-02 |
| PLANQUART, Michel Daniel Jean Jacques | Director | 2019-10-18 | 2020-09-01 |
| RANDALL, Peter Charles | Director | 2020-03-23 | 2025-03-31 |
| REDMAN, Paul Anthony | Director | 2021-12-01 | 2026-05-14 |
| ROBLIN, Gareth David | Director | 1999-11-15 | 2000-08-11 |
| RUDD, Trevor John | Director | 1999-01-04 | 2001-08-01 |
| SCARD-MORGAN, Jack | Director | 2013-09-23 | 2019-07-22 |
| SMITH, Christopher Robert Turner | Director | — | 1995-02-07 |
| SMITH, Gary | Director | 2000-02-18 | 2014-10-10 |
| SPENCER, Michael Alan, Lord Spencer Of Alresford | Director | 2000-02-18 | 2006-06-19 |
| STEWART, Garry Hunter | Director | 2014-10-10 | 2019-12-06 |
| STEWART, Robin James | Director | 2019-12-09 | 2021-11-15 |
| VOGELS, Frederik | Director | 2014-09-23 | 2019-06-27 |
| WALES, Duncan | Director | 2008-10-23 | 2009-11-03 |
| WILTON, Gerald Parselle | Director | — | 1998-06-30 |
| WREN, Samantha Anne | Director | 2012-05-31 | 2013-06-01 |
| YALLOP, John Mark | Director | 2005-07-13 | 2007-01-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tp Icap Emea Investments Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-10-31 | Active |
| Icap Global Broking Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2019-10-31 |
Filing timeline
Last 20 of 423 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-01-13 MA Memorandum articles
- 2026-01-13 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-26 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-26 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-10 | AA | accounts | Accounts with accounts type full | |
| 2026-04-02 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-02-16 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-01-13 | MA | incorporation | Memorandum articles | |
| 2026-01-13 | RESOLUTIONS | resolution | Resolution | |
| 2026-01-05 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-10-07 | SH01 | capital | Capital allotment shares | |
| 2025-10-07 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-26 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-08-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-08-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-07 | AA | accounts | Accounts with accounts type full | |
| 2025-03-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-26 | SH01 | capital | Capital allotment shares | |
| 2025-03-06 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-25 | AP03 | officers | Appoint person secretary company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 14
- Capital events
- 2
- Officers appointed
- 4
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.