PROJECT VELOCITY TOPCO LIMITED
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Cash
£12M
-61.8% lowest in 3 filed years
Net assets
-£36M
-43.7% lowest in 3 filed years
Employees
213
+10.9% highest in 3 filed years
Profit before tax
-£7M
+42.6% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
3-year trend · vs Unclassified median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £129,633,898 | £249,499,013 | £261,856,934 | +5% | |
| Operating profit | £4,920,351 | £11,587,597 | £15,962,770 | +37.8% | |
| Profit before tax | -£11,271,793 | -£12,123,616 | -£6,958,557 | +42.6% | |
| Net profit | -£12,528,254 | -£15,141,709 | -£11,333,819 | +25.1% | |
| Cash | £14,081,673 | £30,834,225 | £11,764,195 | -61.8% | |
| Total assets less current liabilities | £205,237,865 | £204,729,655 | £178,328,038 | -12.9% | |
| Net assets | -£9,598,544 | -£24,740,253 | -£35,539,383 | -43.7% | |
| Equity | -£9,598,544 | -£24,740,253 | -£35,539,383 | -43.7% | |
| Average employees | 157 | 192 | 213 | +10.9% | |
| Wages | £4,591,364 | £8,009,650 | £9,865,253 | +23.2% | |
| Directors' remuneration | £890,673 | £1,194,616 | £1,183,303 | -0.9% |
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 | 2023-09-30 | 2024-09-30 | 2025-09-30 |
|---|---|---|---|---|
| Operating margin | 3.8% | 4.6% | 6.1% | |
| Net margin | -9.7% | -6.1% | -4.3% | |
| Return on capital employed | 2.4% | 5.7% | 9.0% | |
| Current ratio | 1.00x | 1.16x | 0.84x | |
| Interest cover | 0.30x | 0.48x | 0.68x |
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
- PROJECT VELOCITY TOPCO LIMITED 2022-12-12 → present
- AGHOCO 2218 LIMITED 2022-09-27 → 2022-12-12
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“After making enquiries, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.”
Group structure
- PROJECT VELOCITY TOPCO LIMITED · parent
- Project Velocity Holdings Limited 100%
- Project Velocity Midco Limited 100%
- Project Velocity Bidco Limited 100%
- Project Velocity Bidco 1 Limited 100%
- Saturn Topco Limited 100%
- Saturn Midco 1 Limited 100%
- Saturn Midco 2 Limited 100%
- Saturn Bidco Limited 100%
- Axis Topco Limited 100%
- Axis Midco Limited 100%
- Axis Bidco Limited 100%
- Nexus Vehicle Management Limited 100%
- Nexus Vehicle Holdings Limited 100%
- Nexus VRM Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BRENNAN, David Martin | Director | 2023-01-16 | Jul 1966 | British |
| COOK, Alexander James | Director | 2023-01-16 | Jan 1983 | British |
| COPELAND, William Ellis | Director | 2023-01-16 | May 1989 | British |
| ELLIS, John Christian | Director | 2023-01-16 | Sep 1977 | British |
| HADDOW, Scott William | Director | 2023-03-29 | Jan 1973 | British |
| TOMKINSON, Andrew Robert | Director | 2022-12-13 | Oct 1979 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| A G SECRETARIAL LIMITED | Corporate Secretary | 2022-09-27 | 2022-12-13 |
| HART, Roger | Director | 2022-09-27 | 2022-12-13 |
| LEUSCH, Sebastien | Director | 2023-01-16 | 2024-04-15 |
| A G SECRETARIAL LIMITED | Corporate Director | 2022-09-27 | 2022-12-13 |
| INHOCO FORMATIONS LIMITED | Corporate Director | 2022-09-27 | 2022-12-13 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Equistone Partners Europe Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-12-14 | Ceased 2023-01-16 |
| Inhoco Formations Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-09-27 | Ceased 2022-12-14 |
Filing timeline
Last 20 of 35 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-03 | AA | accounts | Accounts with accounts type group | |
| 2025-11-25 | RP01AP01 | officers | Replacement filing of director appointment with name | |
| 2025-10-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-16 | AA | accounts | Accounts with accounts type group | |
| 2024-11-19 | SH01 | capital | Capital allotment shares | |
| 2024-10-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-10 | AA | accounts | Accounts with accounts type group | |
| 2024-05-23 | TM01 | officers | Termination director company with name termination date | |
| 2023-10-18 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2023-10-18 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2023-10-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-07-11 | SH01 | capital | Capital allotment shares | |
| 2023-04-18 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-26 | PSC08 | persons-with-significant-control | Notification of a person with significant control statement | |
| 2023-01-25 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-25 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-25 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-01-25 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-25 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-25 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 1
- Officers appointed
- 0
- Officers resigned
- 0
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.