TCI FUND MANAGEMENT LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2027-03-03 (in 10mo)
Last made up 2026-02-17
Watchouts
None on the register
Cash
£122M
USD 163,043,972
-52.7% vs 2024
Net assets
£272M
USD 364,380,162
-16.4% vs 2024
Employees
7
+16.7% vs 2024
Profit before tax
£10M
USD 13,529,319
-94.3% vs 2024
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £631,066,086 | £765,940,047 | |
| Operating profit | £171,642,128 | -£2,770,612 | |
| Profit before tax | £177,556,983 | £10,113,866 | |
| Net profit | £134,836,410 | £7,551,156 | |
| Cash | £257,543,605 | £121,883,810 | |
| Total assets less current liabilities | £325,856,418 | £272,393,034 | |
| Net assets | £325,856,418 | £272,393,034 | |
| Equity | £325,856,418 | £272,393,034 | |
| Average employees | 6 | 7 | |
| Wages | £982,956 | £1,816,036 | |
| Directors' remuneration | £303,250 | £306,283 |
Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+21.4%
£631,066,086 £765,940,047
-
Cash
-52.7%
£257,543,605 £121,883,810
-
Net assets
-16.4%
£325,856,418 £272,393,034
-
Employees
+16.7%
6 7
-
Operating profit
-101.6%
£171,642,128 -£2,770,612
-
Profit before tax
-94.3%
£177,556,983 £10,113,866
-
Wages
+84.8%
£982,956 £1,816,036
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 27.2% | -0.4% | |
| Net margin | 21.4% | 1.0% | |
| Return on capital employed | 52.7% | -1.0% | |
| Current ratio | 23.13x | 31.60x |
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
- TCI FUND MANAGEMENT LIMITED 2015-05-27 → present
- TCI MANAGEMENT 1 LIMITED 2014-02-17 → 2015-05-27
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“After making enquiries and assessing financial forecasts for going concern, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements.”
Significant events
- “Company changed its accounting reference date from 28 February (29 February in a leap year) to 31 March.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HOHN, Christopher Anthony | Director | 2014-02-17 | Oct 1966 | British |
| MILNE, Angus Derrick Murray | Director | 2015-06-11 | Jul 1956 | British |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tci Fund Management (Uk) Limited | Corporate entity | Shares 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 45 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-18 | RP01AP01 | officers | Replacement filing of director appointment with name | |
| 2026-01-05 | AA | accounts | Accounts with accounts type full | |
| 2025-02-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-18 | AA | accounts | Accounts with accounts type full | |
| 2024-02-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-18 | AA01 | accounts | Change account reference date company current extended | |
| 2023-12-06 | AA | accounts | Accounts with accounts type full | |
| 2023-03-01 | CH01 | officers | Change person director company with change date | |
| 2023-03-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-29 | AA | accounts | Accounts with accounts type full | |
| 2022-03-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-01 | AA | accounts | Accounts with accounts type full | |
| 2021-03-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-02-26 | AA | accounts | Accounts with accounts type full | |
| 2020-02-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2019-12-03 | AA | accounts | Accounts with accounts type full | |
| 2019-02-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2018-12-03 | AA | accounts | Accounts with accounts type full | |
| 2018-02-21 | 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
- 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.