TRAVELFUSION LIMITED
Travelfusion Limited operates a business-to-business travel content aggregation and payment platform that connects airlines, rail operators, and hotels with travel agents and search engines.
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Cash
£130m
-32.6% lowest in 3 filed years
Net assets
£253m
+31.4% highest in 3 filed years
Employees
111
+7.8% highest in 3 filed years
Profit before tax
£79m
+9.2% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
5 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Technology 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 | £93,365,417 | £84,926,998 | £81,939,969 | -3.5% | |
| Operating profit | £68,578,690 | £67,331,309 | £73,811,206 | +9.6% | |
| Profit before tax | £72,302,761 | £72,805,366 | £79,487,583 | +9.2% | |
| Net profit | £55,403,342 | £54,653,262 | £59,568,314 | +9% | |
| Cash | £176,394,441 | £192,687,144 | £129,816,528 | -32.6% | |
| Total assets less current liabilities | £153,124,314 | £200,463,413 | £259,702,191 | +29.6% | |
| Net assets | £137,992,605 | £192,645,867 | £253,208,409 | +31.4% | |
| Equity | £137,992,605 | £192,645,867 | £253,208,409 | +31.4% | |
| Average employees | 105 | 103 | 111 | +7.8% | |
| Wages | £5,585,341 | £5,620,307 | £7,087,827 | +26.1% | |
| Directors' remuneration | £181,362 | £194,267 | £195,287 | +0.5% | |
| Directors' pension contributions | £14,459 | £4,806 | £5,357 | +11.5% | |
| Highest paid director | £550,540 | £6,112,920 | £514,633 | -91.6% |
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 | 73.5% | 79.3% | 90.1% | |
| Net margin | 59.3% | 64.4% | 72.7% | |
| Return on capital employed | 44.8% | 33.6% | 28.4% | |
| Gearing (liabilities / total assets) | 45.1% | 40.1% | 63.8% | |
| Current ratio | 2.55x | 2.65x | 1.59x |
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 1 time since incorporation
- TRAVELFUSION LIMITED 1999-12-20 → present
- PCO 228 LIMITED 1999-11-16 → 1999-12-20
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Moore Kingston Smith LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors continue to adopt the going concern basis of accounting”
Group structure
- TRAVELFUSION LIMITED · parent
- Travelfusion China Ltd 100%
- Travelfusion Japan Co. Ltd 90%
- Travelfusion Asia Pte. Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 20 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PILOSI, Patrizia | Secretary | 2026-03-30 | — | — |
| ANDREEV, Veselin | Director | 2026-06-24 | Oct 1986 | British |
| PILOSI, Patrizia | Director | 2026-06-24 | Jan 1979 | British |
| SHU, Like | Director | 2025-08-11 | Oct 1984 | Chinese |
| XIONG, Xing | Director | 2015-01-02 | Nov 1973 | American |
Show 20 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| RAFIAH, Moshe | Secretary | 2000-05-10 | 2026-03-30 |
| PAILEX CORPORATE SERVICES LIMITED | Corporate Secretary | 1999-11-16 | 2000-05-08 |
| EFRATI, Simi | Director | 2012-01-01 | 2015-01-02 |
| FENG, Yan | Director | 2015-01-02 | 2019-04-10 |
| KROPMAN, Jonathan Ronald | Director | 1999-11-16 | 1999-12-21 |
| LI, He | Director | 2020-11-27 | 2025-08-11 |
| LI, Xuan | Director | 2019-04-10 | 2020-11-27 |
| OOI, Chee Teong | Director | 2018-05-01 | 2026-06-24 |
| PODROJSKI, Ariel | Director | 2000-08-01 | 2001-02-28 |
| RAFIAH, Moshe | Director | 1999-12-21 | 2026-04-07 |
| RAFIC, Michael | Director | 1999-12-21 | 2015-01-02 |
| REDDY, Kasipathy Nirmal Kumar | Director | 2018-05-01 | 2026-06-24 |
| SHEN, Jie | Director | 2019-09-03 | 2020-11-27 |
| SHERMISTER, Igal | Director | 2000-09-11 | 2015-01-02 |
| WAKSMAN, Hanan | Director | 2011-02-20 | 2012-01-01 |
| WANG, Xiao Fan | Director | 2017-01-03 | 2019-09-03 |
| WU, Wenjie | Director | 2015-01-02 | 2017-01-03 |
| YONG, Zhang | Director | 2025-08-11 | 2026-03-16 |
| YOUNG, Ofer | Director | 2000-09-11 | 2015-01-02 |
| ZHOU, Shiwei | Director | 2020-11-27 | 2025-08-11 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Trip.Com Group Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 173 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-21 | AA | accounts | Accounts with accounts type full | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-07-09 | AP01 | officers | Appoint person director company with name date | |
| 2026-07-08 | AP01 | officers | Appoint person director company with name date | |
| 2026-07-08 | TM01 | officers | Termination director company with name termination date | |
| 2026-07-08 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-07 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-31 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-31 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-03-31 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-11-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-03 | AA | accounts | Accounts with accounts type full | |
| 2025-09-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-10 | PSC05 | persons-with-significant-control | Change to a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 15
- Capital events
- 0
- Officers appointed
- 3
- Officers resigned
- 5
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.