INDIA TOPCO LIMITED
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Cash
£1m
-45.9% vs 2025
Net assets
-£8m
-114.5% vs 2025
Employees
152
+4.1% vs 2025
Profit before tax
-£4.3m
-15.8% vs 2025
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2026-01-31
| Metric | Trend | 2025-01-31 | 2026-01-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £8,465,639 | £12,675,148 | +49.7% | |
| Operating profit | -£2,370,500 | -£2,387,685 | -0.7% | |
| Profit before tax | -£3,677,794 | -£4,257,743 | -15.8% | |
| Net profit | -£3,732,385 | -£4,243,906 | -13.7% | |
| Cash | £1,875,172 | £1,014,221 | -45.9% | |
| Total assets less current liabilities | £21,193,026 | £14,827,843 | -30% | |
| Net assets | -£3,712,319 | -£7,962,938 | -114.5% | |
| Equity | -£3,712,319 | -£7,962,938 | -114.5% | |
| Average employees | 146 | 152 | +4.1% | |
| Wages | £3,520,864 | £6,270,492 | +78.1% | |
| Directors' remuneration | £223,466 | £361,538 | +61.8% |
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 | 2025-01-31 | 2026-01-31 |
|---|---|---|---|
| Operating margin | -28.0% | -18.8% | |
| Net margin | -44.1% | -33.5% | |
| Return on capital employed | -11.2% | -16.1% | |
| Gearing (liabilities / total assets) | 116.0% | — | |
| Current ratio | 1.79x | 0.42x | |
| Interest cover | -1.79x | -1.27x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Barnes Roffe Audit Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- INDIA TOPCO LIMITED · parent
- India Midco Limited 100%
- India Bidco Limited 100%
- Finders Genealogists Holdings Limited 100%
- Finders Genealogists Limited 100%
- Finders International Probate Genealogists (Ireland) Limited 100%
- DSResearchers Limited 100%
- Heir Hunters Association Limited 100%
- Heir Hunters Researchers Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MORRISON, Richard David | Director | 2024-01-30 | Jan 1990 | British |
| NICHOLSON, Harry Hugh Roger | Director | 2024-06-19 | Apr 1963 | British |
| RICHARDS, Nicola Catherine | Director | 2024-08-16 | Feb 1989 | British |
| WALL, Simonne | Director | 2024-05-24 | Jan 1979 | British |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FRANCIS, Anthony John Douglas | Director | 2024-01-30 | 2024-05-24 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Project Iguazu Nominees Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-05-24 | Active |
| Mr Richard David Morrison | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-01-30 | Ceased 2024-05-24 |
Filing timeline
Last 20 of 22 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-10-07 MA Memorandum articles
- 2024-07-10 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-30 | AA | accounts | Accounts with accounts type group | |
| 2026-05-26 | CH01 | officers | Change person director company with change date | |
| 2026-05-26 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-02 | AA | accounts | Accounts with accounts type group | |
| 2025-07-31 | SH01 | capital | Capital allotment shares | |
| 2025-07-11 | SH01 | capital | Capital allotment shares | |
| 2025-05-29 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-10-07 | MA | incorporation | Memorandum articles | |
| 2024-10-03 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-10-03 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-08-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-16 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-07-16 | SH01 | capital | Capital allotment shares | |
| 2024-07-10 | RESOLUTIONS | resolution | Resolution | |
| 2024-07-04 | SH01 | capital | Capital allotment shares | |
| 2024-06-27 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-06-26 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-26 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2024-06-26 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-25 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 4
- 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.