The Accounts · daily brief
1 September 2026
Board pay jumps at Cala, Elstree Tower winds up
The takeaways
- Cala Homes saw operating profit halve, while total director remuneration quintupled to £11.8m
- Elstree Tower has filed on a break-up basis after selling its investment property and ceasing operations
- Subsea robotics firm Helix posted a £46.7m operating profit that was largely offset below the line
Hiring signals · who grew, who shrank
Hiring
- Healthpoint Limited 20 → 45 staff ▲ +125% staff cost +107%
- Libra Agencies (Uk) Limited 60 → 92 staff ▲ +53% staff cost +44%
Cutting
- Dagless Limited 214 → 161 staff ▼ −25% staff cost −22%
- Parity Computers Limited 50 → 41 staff ▼ −18% staff cost −4%
Average headcount from the accounts filed yesterday — a look back at last year's payroll, not a live hiring tracker.
Filing of note
Elstree Tower Limited
Elstree Tower Limited is a London-based real estate enterprise focused on building project development and the letting of owned or leased properties.
Filed on a break-up basis — the business is being wound up.
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | — | £151k | |
| Admin expenses | £502k | £730k | ▼ −31% |
| Operating profit | £1.8m | −£1m | ▲ +274% |
| Finance costs | £1.5m | £1.8m | ▼ −16% |
| Profit before tax | −£8.3m | −£2.8m | ▼ −197% |
| Net profit | −£8.6m | −£2.8m | ▼ −206% |
| Cash & balance sheet | |||
| Cash | £56,473 | £132k | ▼ −57% |
| Net assets | −£18.6m | −£10m | ▼ −86% |
Filed on a break-up basis — the business is being wound up. The filing confirms the company has ceased operations following the sale of its investment property. The £1.8m operating profit on the face of the P&L includes £2.3m of one-off operating income, while the bottom line fell to an £8.3m pre-tax loss.
Cala Group (Holdings) Limited [1]
Trading primarily as Cala Homes, the company is a private British housebuilder operating across Scotland and southern England, which was recently acquired from Legal & General by investment firms Sixth Street Partners and Patron Capital.
Board pay jumps
| Line | FY24 | FY23 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £1.2bn | £1.3bn | ▼ −7% |
| Gross profit | £170.2m | £200.9m | ▼ −15% |
| Admin expenses | −£114.7m | −£86.6m | ▼ −32% |
| Operating profit | £56.4m | £114.7m | ▼ −51% |
| Finance costs | −£37.3m | −£24.4m | ▼ −53% |
| Profit before tax | £19.9m | £90.7m | ▼ −78% |
| Net profit | £6.6m | £65.3m | ▼ −90% |
| Cash & balance sheet | |||
| Cash | £18.5m | £11.2m | ▲ +66% |
| Net assets | £1.1bn | £1.0bn | ▲ +3% |
| Dividends paid | −£40m | −£60m | ▲ +33% |
| People & pay | |||
| Avg. headcount | 1,469 | 1,475 | ▼ −0% |
| Staff cost | £137.5m | £118m | ▲ +17% |
| Director pay | £11.8m | £2.5m | ▲ +377% |
| Highest-paid director | £6.4m | £1.4m | ▲ +372% |
Operating profit halved alongside a slight softening in the top line, while total directors' remuneration quintupled to £11.8m. The highest-paid director received £6.4m. Across the broader workforce, total staff costs rose 16.5% during the period, even as average headcount remained flat.
The7stars Group Holdings Limited [2]
The company serves as the privately held holding group for the7stars, an independent UK media agency specialising in advertising, media planning, and buying.
Client loss
| Line | FY26 | FY25 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £492.1m | £482.2m | ▲ +2% |
| Gross profit | £43.6m | £39.2m | ▲ +11% |
| Admin expenses | £40.1m | £37m | ▲ +8% |
| Operating profit | £3.5m | £2.2m | ▲ +61% |
| Finance costs | £8,130 | £267k | ▼ −97% |
| Profit before tax | £5.5m | £4.6m | ▲ +20% |
| Net profit | £3.9m | £2.8m | ▲ +38% |
| Cash & balance sheet | |||
| Cash | £37.1m | £53.4m | ▼ −31% |
| Net assets | £23.2m | £19.3m | ▲ +20% |
| People & pay | |||
| Staff cost | £25.7m | £23.9m | ▲ +8% |
| Director pay | £2.4m | £2m | ▲ +23% |
| Highest-paid director | £529k | £344k | ▲ +54% |
The independent media agency held the top line steady while improving operating profit 61% to £3.5m. The balance sheet remains heavily liquid with £37.1m in cash, though the strategic report notes a significant headwind: the loss of Entain, one of the group's largest client relationships.
Helix Robotics Solutions Limited [3]
Operating from Aberdeen, the company serves as the UK subsea robotics and trenching division of the US-listed offshore energy services provider Helix Energy Solutions Group, Inc., supplying remotely operated vehicles and trenching support vessels for offshore wind, oil, and gas projects.
Subsidiary mechanics
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £162.4m | £108.1m | ▲ +50% |
| Gross profit | £51.6m | £32.8m | ▲ +57% |
| Admin expenses | £4.8m | £5.1m | ▼ −5% |
| Operating profit | £46.7m | £27.8m | ▲ +68% |
| Finance costs | £5,279 | £6,414 | ▼ −18% |
| Profit before tax | £42,182 | £21,347 | ▲ +98% |
| Net profit | £31,594 | £16,616 | ▲ +90% |
| Cash & balance sheet | |||
| Cash | £14.6m | £8.2m | ▲ +78% |
| Net assets | £96.4m | £64.8m | ▲ +49% |
| People & pay | |||
| Avg. headcount | 49 | 44 | ▲ +11% |
| Staff cost | £4.7m | £4.6m | ▲ +3% |
| Director pay | £887k | £849k | ▲ +5% |
| Highest-paid director | £320k | £306k | ▲ +4% |
A surge in vessel utilisation pushed turnover up 50% to £162.4m at this subsea robotics subsidiary. That filtered down to a £46.7m operating profit, but the wider group structure absorbed the surplus. Almost all of that trading margin was offset below the line, leaving a pre-tax profit of £42k.
Renewable Transport Fuel Services Limited [4]
Trading as RTFS, the company aggregates and supplies renewable biomethane for the heavy transport sector, operating as the upstream sourcing arm of the ReFuels group.
Lean growth
| Line | FY26 | FY26 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £157.5m | £114.9m | ▲ +37% |
| Gross profit | £20.2m | £12m | ▲ +68% |
| Admin expenses | £4.7m | £354k | ▲ +1222% |
| Operating profit | £15.2m | £7.7m | ▲ +97% |
| Finance costs | £44,645 | £17,688 | ▲ +152% |
| Profit before tax | £15m | £7.9m | ▲ +89% |
| Net profit | £12.2m | £7m | ▲ +75% |
| Cash & balance sheet | |||
| Cash | £7.6m | £3.6m | ▲ +113% |
| Net assets | £23.4m | £14.6m | ▲ +60% |
| Dividends paid | £3.2m | — | |
| People & pay | |||
| Avg. headcount | 15 | 11 | ▲ +36% |
| Staff cost | £2.3m | £1.3m | ▲ +70% |
| Director pay | £142k | £120k | ▲ +18% |
The upstream sourcing arm of the ReFuels group maintained a strong margin profile. Higher dispensed biomethane volumes doubled operating profit to £15.2m. The operation generated that return on a compact cost base, operating with an average headcount of 15.
Oktra Limited [5]
Operating as Oktra, the company is a UK-based workplace design and commercial fit-out specialist owned by Vensyn Group Limited.
Cashflow matched
| Line | FY26 | FY25 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £133.8m | £112.5m | ▲ +19% |
| Gross profit | £46.3m | £39.1m | ▲ +18% |
| Admin expenses | £11m | £10.3m | ▲ +7% |
| Operating profit | £11.7m | £8.4m | ▲ +38% |
| Finance costs | £3,382 | £3,382 | ▲ −0% |
| Profit before tax | £12m | £8.8m | ▲ +37% |
| Net profit | £10m | £6.7m | ▲ +49% |
| Cash & balance sheet | |||
| Cash | £12.8m | £11.6m | ▲ +10% |
| Net assets | £5.1m | £4.4m | ▲ +17% |
| Dividends paid | £9.2m | £5.4m | ▲ +71% |
| People & pay | |||
| Avg. headcount | 195 | 195 | ▲ −0% |
| Staff cost | £28.4m | £25.1m | ▲ +13% |
| Director pay | £4.1m | £3.7m | ▲ +9% |
| Highest-paid director | £1.1m | £1.2m | ▼ −7% |
The commercial fit-out specialist grew the top line 19% across the year. The filing notes that matching supplier payment terms to client terms has mitigated cashflow risk, a working capital discipline that accompanied the payment of a £9.2m dividend.
A reminder that operating margins and board remuneration do not always move in the same direction.
Sources
- Cala Group (Holdings) Limited
- The7stars Group Holdings Limited
- Helix Robotics Solutions Limited
- Renewable Transport Fuel Services Limited
- Oktra Limited