The Accounts · daily brief
19 August 2026
AO Retail headcount falls, Enterprise files on break-up basis
The takeaways
- Enterprise (AOL) Limited filed on a break-up basis as it resolves legacy contracts ahead of dormancy
- AO Retail saw average headcount fall by 16% after outsourcing inbound sales operations to South Africa
- Cleveland Clinic London booked a substantial operating loss of £107.8m despite a 16% rise in turnover
Hiring signals · who grew, who shrank
Hiring
- Keiper Uk Limited 44 → 117 staff ▲ +166% staff cost +254%
- Golfclubs4cash Limited 121 → 150 staff ▲ +24% staff cost +33%
Cutting
- Cpl Talent Solutions Ltd 222 → 153 staff ▼ −31% staff cost −20%
- Ctc London Limited 55 → 40 staff ▼ −27% staff cost +5%
Average headcount from the accounts filed yesterday — a look back at last year's payroll, not a live hiring tracker.
Filing of note
Enterprise (Aol) Limited
Originally operating as Accord Operations Limited, the company is a public sector and utility support services provider that forms part of the Amey infrastructure group following the integration of its former parent, Enterprise.
Filed on a break-up (non-going-concern) basis.
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £1,000 | £132k | ▼ −99% |
| Gross profit | £603k | £597k | ▲ +1% |
| Operating profit | £603k | £594k | ▲ +2% |
| Finance costs | £1,000 | £11,000 | ▼ −91% |
| Profit before tax | £6.1m | £2.6m | ▲ +136% |
| Net profit | £4.4m | £1.9m | ▲ +127% |
| Cash & balance sheet | |||
| Cash | £3,000 | £82,000 | ▼ −96% |
| Net assets | £67.8m | £63.5m | ▲ +7% |
The desk flagged this as the day's unusual filing, and the going-concern note confirms it: the accounts are prepared on a break-up basis. Revenue fell to just £1k as the company exits its final legacy contracts, though a £5.5m finance income credit generated a £6.1m profit before tax ahead of planned dormancy.
Ao Retail Limited [1]
Trading primarily as AO.com, the company serves as the principal UK operating subsidiary of the London-listed online electricals retailer AO World plc, specialising in the e-commerce sale of household appliances and consumer electronics.
Headcount fall
| Line | FY26 | FY25 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £1.1bn | £1.0bn | ▲ +5% |
| Gross profit | £179m | £164.9m | ▲ +9% |
| Admin expenses | £122.2m | £111.5m | ▲ +10% |
| Operating profit | £56.9m | £54.6m | ▲ +4% |
| Finance costs | £360k | £270k | ▲ +33% |
| Profit before tax | £63.1m | £59m | ▲ +7% |
| Net profit | £57.5m | £56.7m | ▲ +1% |
| Cash & balance sheet | |||
| Cash | £76.6m | £22.2m | ▲ +246% |
| Net assets | £6.4m | £43.9m | ▼ −85% |
| Dividends paid | £95m | £126.5m | ▼ −25% |
| People & pay | |||
| Avg. headcount | 690 | 824 | ▼ −16% |
| Staff cost | £35.5m | £38.8m | ▼ −9% |
| Director pay | £2.2m | £2.3m | ▼ −6% |
| Highest-paid director | £1m | £1.1m | ▼ −9% |
Turnover held steady at £1.09bn, alongside a £56.9m operating profit. Average headcount fell 16% to 690, attributed in the filing to outsourcing the majority of inbound sales operations to a partner in South Africa. Total staff costs decreased to £35.5m, and the period also included a £95.0m dividend payment.
Amey Services Limited [2]
This entity operates as a principal service provision arm for Amey, a major British infrastructure and engineering group delivering highways, rail, and facilities management services to the public and regulated sectors.
Recharges drop
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £567m | £563.6m | ▲ +1% |
| Gross profit | £1.7m | £16.3m | ▼ −90% |
| Operating profit | £1.7m | £16.3m | ▼ −90% |
| Finance costs | £132k | £28,000 | ▲ +371% |
| Profit before tax | £12.9m | £21.5m | ▼ −40% |
| Net profit | £9.5m | £8.3m | ▲ +15% |
| Cash & balance sheet | |||
| Cash | £1.8m | £424k | ▲ +314% |
| Net assets | £119.2m | £111.4m | ▲ +7% |
| People & pay | |||
| Avg. headcount | 9,871 | 10,280 | ▼ −4% |
| Staff cost | £564.8m | £548.5m | ▲ +3% |
Operating profit fell to £1.7m from £16.3m on broadly flat turnover of £567.0m, a decrease attributed to lower pension top-ups recharged to the wider group. The bottom line was supported by £11.3m in finance income, which lifted profit before tax to £12.9m.
Amey Ow Limited [3]
Formerly known as Owen Williams Limited, the company operates as an engineering and technical consultancy subsidiary of Amey, a major British infrastructure support services group backed by private equity firms Buckthorn Partners and One Equity Partners.
Margin expansion
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £393.1m | £371.1m | ▲ +6% |
| Finance costs | £1.2m | £1.4m | ▼ −14% |
| Profit before tax | £10.1m | £1.8m | ▲ +458% |
| Net profit | £7.8m | £996k | ▲ +681% |
| Cash & balance sheet | |||
| Cash | £6.3m | £12.6m | ▼ −51% |
| Net assets | £10.2m | £2.4m | ▲ +319% |
| Dividends paid | £67m | — | |
Profit before tax rose to £10.1m from £1.8m as turnover increased 6% to £393.1m. The filing notes a gross margin improvement to 10.5%, and the period also saw the distribution of a substantial £67.0m dividend payout.
Cleveland Clinic London Ltd [4]
The company operates a private hospital and associated outpatient clinics in central London, acting as the UK healthcare arm of the US-based Cleveland Clinic group.
Operating losses
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £215.1m | £185.2m | ▲ +16% |
| Gross profit | −£9.7m | −£28.1m | ▲ +66% |
| Admin expenses | £98.1m | £103.4m | ▼ −5% |
| Operating profit | −£107.8m | −£131.5m | ▲ +18% |
| Profit before tax | −£106.5m | −£131m | ▲ +19% |
| Net profit | −£106.5m | −£131m | ▲ +19% |
| Cash & balance sheet | |||
| Cash | £84.5m | £15.8m | ▲ +434% |
| Net assets | £349.3m | £304.9m | ▲ +15% |
| People & pay | |||
| Avg. headcount | 1,682 | 1,687 | ▼ −0% |
| Staff cost | £148.6m | £142.6m | ▲ +4% |
| Director pay | £1.8m | £1.9m | ▼ −6% |
| Highest-paid director | £1.8m | £1.9m | ▼ −6% |
The London outpost of the US healthcare group continues to record operating losses, booking a £107.8m deficit. Turnover rose 16% to £215.1m, but the entity remains reliant on parent company support, requiring a £20m share issue after the year-end to manage liquidity risk.
Sas Software Limited [5]
The company operates as the UK subsidiary of the US-based software group SAS Institute Inc., providing enterprise software solutions and related information technology consultancy services.
Cloud growth
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £186.4m | £169.3m | ▲ +10% |
| Gross profit | £93.6m | £92.2m | ▲ +2% |
| Admin expenses | £89.3m | £87.7m | ▲ +2% |
| Operating profit | £6.6m | £6.3m | ▲ +4% |
| Finance costs | £0 | £0 | |
| Profit before tax | £6.6m | £6.4m | ▲ +2% |
| Net profit | £4.4m | £5m | ▼ −13% |
| Cash & balance sheet | |||
| Cash | £17.5m | £31.6m | ▼ −44% |
| Net assets | £25.6m | £21.2m | ▲ +21% |
| People & pay | |||
| Avg. headcount | 756 | 721 | ▲ +5% |
| Staff cost | £98.4m | £90.2m | ▲ +9% |
| Director pay | £0 | £0 | |
Turnover climbed 10% to £186.4m, attributed to the increased adoption of cloud solutions. The top-line growth was offset by rising administrative expenses, leaving operating profit broadly flat at £6.6m, while the company committed £34m to a five-year sponsorship of Liverpool Football Club.
A £34m football sponsorship alongside a £6.6m operating profit is the sort of commitment that generally requires a US parent to underwrite the balance sheet.
Sources
- Ao Retail Limited
- Amey Services Limited
- Amey Ow Limited
- Cleveland Clinic London Ltd
- Sas Software Limited