BUSINESS GROWTH FUND LIMITED
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Cash
£187m
+97.9% vs 2024
Net assets
£1bn
+14.5% highest in 3 filed years
Employees
—
Average over period
Profit before tax
£115m
+61% highest in 3 filed years
Net assets
3-year trend · vs Financials 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 | £58,495,000 | £152,042,000 | £205,529,000 | +35.2% | |
| Operating profit | -£24,393,000 | £65,044,000 | £114,814,000 | +76.5% | |
| Profit before tax | -£16,030,000 | £71,530,000 | £115,166,000 | +61% | |
| Net profit | -£11,946,000 | £65,516,000 | £127,360,000 | +94.4% | |
| Cash | £213,905,000 | £94,631,000 | £187,237,000 | +97.9% | |
| Total assets less current liabilities | £816,185,000 | £881,815,000 | £1,009,289,000 | +14.5% | |
| Net assets | £815,542,000 | £881,058,000 | £1,008,418,000 | +14.5% | |
| Equity | £815,542,000 | £881,058,000 | £1,008,418,000 | +14.5% | |
| Average employees | 0 | 0 | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | — | — | — | — |
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 | -41.7% | 42.8% | 55.9% | |
| Net margin | -20.4% | 43.1% | 62.0% | |
| Return on capital employed | -3.0% | 7.4% | 11.4% | |
| Gearing (liabilities / total assets) | — | 55.9% | 49.7% | |
| Current ratio | 0.44x | 0.33x | 0.47x | |
| Interest cover | — | — | 35.41x |
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
- BUSINESS GROWTH FUND LIMITED 2018-05-04 → present
- BUSINESS GROWTH FUND PLC 2011-02-02 → 2018-05-04
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis which the Company considers appropriate. The directors have reviewed the going concern assessment and, upon analysis of reasonable scenarios, expect sufficient funds to meet liabilities for at least 12 months from the date of approval.”
Group structure
- BUSINESS GROWTH FUND LIMITED · parent
- BGF Investments LP
- BGF Ventures LP
Significant events
- “The Company made charitable donations of £502,190 which included £500,000 paid to BGF Foundation in 2025 (2024: £500,250).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 22 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MURRAY, David Robert | Secretary | 2011-05-12 | — | British |
| BARKER, Benjamin Julius | Director | 2026-02-11 | Jan 1977 | British |
| GREGORY, Andrew Nicholas | Director | 2022-11-03 | Sep 1966 | British |
| OLDS, Christopher Andrew | Director | 2024-05-03 | Apr 1981 | South African,British |
Show 22 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| OWEN, Stephen | Secretary | 2011-02-02 | 2011-05-12 |
| AVIS, Alice Mary Cleoniki | Director | 2016-04-14 | 2017-05-23 |
| BAXTER, Audrey Caroline | Director | 2011-09-27 | 2016-09-30 |
| BOAG, Timothy John Donald | Director | 2011-02-10 | 2017-05-23 |
| BOTHWELL, Karen Margaret | Director | 2012-06-19 | 2016-01-20 |
| BURGESS, John Downing | Director | 2011-09-27 | 2015-10-16 |
| CHEW, James Laurence | Director | 2011-02-02 | 2017-05-23 |
| DOUGLAS, Alan Robert | Director | 2017-05-23 | 2017-05-23 |
| HINTON, Timothy Giles Sunderland | Director | 2011-02-10 | 2012-09-18 |
| HOLMES, William Richard | Director | 2012-11-01 | 2016-07-14 |
| JOHNSON, Neil Anthony | Director | 2011-09-27 | 2017-05-23 |
| KELTING, John | Director | 2011-02-02 | 2013-03-21 |
| MURPHY, Stephen Thomas | Director | 2011-09-27 | 2017-05-23 |
| NOBLE, Diana Georgina | Director | 2016-07-14 | 2017-05-23 |
| REED, Matthew Robert | Director | 2013-10-22 | 2024-05-03 |
| RUDD, Anthony Nigel Russell, Sir | Director | 2011-05-12 | 2017-05-23 |
| THOMSON, Scott Mcfarlane | Director | 2017-05-23 | 2017-05-23 |
| TURNER, Alan Jeffrey | Director | 2013-03-21 | 2016-12-06 |
| WALL, Kevin Charles | Director | 2017-01-26 | 2017-05-23 |
| WATSON, John Gerrard | Director | 2011-02-10 | 2012-06-19 |
| WELTON, Stephen Frank | Director | 2011-05-12 | 2022-12-31 |
| WHITE, Adrian Patrick | Director | 2016-01-20 | 2017-05-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bgf Group Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-05-23 | Active |
Filing timeline
Last 20 of 157 total filings
Material constitutional events — rename, articles re-file, resolution
- 2022-06-30 MA Memorandum articles
- 2022-06-30 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-04 | AA | accounts | Accounts with accounts type full | |
| 2026-03-02 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-25 | AA | accounts | Accounts with accounts type full | |
| 2025-02-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-24 | AA | accounts | Accounts with accounts type full | |
| 2024-05-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-05-03 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-29 | AA | accounts | Accounts with accounts type full | |
| 2023-02-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-12-31 | TM01 | officers | Termination director company with name termination date | |
| 2022-11-09 | AP01 | officers | Appoint person director company with name date | |
| 2022-06-30 | MA | incorporation | Memorandum articles | |
| 2022-06-30 | RESOLUTIONS | resolution | Resolution | |
| 2022-06-21 | AA | accounts | Accounts with accounts type full | |
| 2022-04-08 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-02-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-06-08 | AA | accounts | Accounts with accounts type full | |
| 2021-02-02 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 1
- 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.