TROVE RESEARCH LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-01-06 (in 8mo)
Last made up 2025-12-23
Watchouts
None on the register
Cash
£2M
+616.7% highest in 5 filed years
Net assets
-£8M
-142.7% lowest in 5 filed years
Employees
50
+6.4% highest in 5 filed years
Profit before tax
-£8M
-163.2% vs 2023
Net assets
6-year trend · vs Technology median
Accounts
6-year trend · latest reflected 2024-12-31
| Metric | Trend | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | £3,421,000 | £3,635,000 | |
| Operating profit | — | — | — | — | -£2,877,000 | -£7,635,000 | |
| Profit before tax | — | — | — | — | -£2,898,000 | -£7,627,000 | |
| Net profit | — | — | £22,769 | -£756,759 | -£2,812,000 | -£5,742,000 | |
| Cash | £45,958 | — | £81,478 | £130,957 | £227,000 | £1,627,000 | |
| Total assets less current liabilities | £16,156 | — | £46,774 | -£701,275 | -£2,961,000 | -£6,600,000 | |
| Net assets | £16,156 | — | £44,674 | -£708,575 | -£3,155,000 | -£7,656,000 | |
| Equity | £16,156 | £21,905 | £44,674 | -£708,575 | -£3,155,000 | -£7,656,000 | |
| Average employees | 2 | — | 12 | 31 | 47 | 50 | |
| Wages | — | — | — | — | £3,946,000 | £5,444,000 | |
| Directors' remuneration | — | — | — | — | £0 | £0 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+6.3%
£3,421,000 £3,635,000
-
Cash
+616.7%
£227,000 £1,627,000
highest in 5 filed years
-
Net assets
-142.7%
-£3,155,000 -£7,656,000
lowest in 5 filed years
-
Employees
+6.4%
47 50
highest in 5 filed years
-
Operating profit
-165.4%
-£2,877,000 -£7,635,000
-
Profit before tax
-163.2%
-£2,898,000 -£7,627,000
-
Wages
+38%
£3,946,000 £5,444,000
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 | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -84.1% | — | |
| Net margin | — | — | — | — | -82.2% | -158.0% | |
| Return on capital employed | — | — | — | — | 97.2% | 115.7% | |
| Gearing (liabilities / total assets) | — | — | — | — | 311.7% | 244.5% | |
| Current ratio | — | — | — | — | 0.32x | 0.44x | |
| Interest cover | — | — | — | — | -137.00x | -1272.50x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The ultimate parent undertaking of the Company, MSCI Inc., has provided a letter of support to the Company effective for a period 12 months from the date of signing of the Annual Report and Financial Statements, as a result of which the Directors have a reasonable expectation that the Company has adequate resources to continue its operations. Accordingly, the Directors continue to adopt the going concern basis in preparing the annual report and financial statements.”
Group structure
- TROVE RESEARCH LIMITED · parent
- Trove Research LLC
Significant events
- “On 1 November 2023, the Company was acquired by MSCI ESG Research (UK) Limited. From that date, its ultimate parent undertaking has been MSCI Inc.”
- “On 1 November 2023, MSCI ESG Research (UK) Limited provided a cash advance of £1,240k to the Company. On 31 July 2024, it agreed to release the Company from repayment of this advance in exchange for the allotment of 1,000 ordinary shares issued at a premium of £1,240,395 for a total subscription amount of £1,240,396.”
- “The Company's direct subsidiary undertaking, Trove Research LLC, was dissolved with effect on 26 April 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| EHMER, Judith Katharina | Director | 2025-06-30 | Aug 1983 | German |
| LAINE, Nadia, Ms. | Director | 2025-06-30 | Oct 1979 | British,French |
| PROCTER, Jonathan Michael, Mr. | Director | 2023-11-01 | Apr 1967 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HERPERS, Jillis | Director | 2023-11-01 | 2024-02-05 |
| PULICKAL, Olga, Ms. | Director | 2023-11-01 | 2025-06-30 |
| TURNER, Clare | Director | 2020-01-01 | 2023-11-01 |
| TURNER, Guy Samuel | Director | 2014-12-23 | 2023-11-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Msci Solutions (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-11-01 | Active |
| Clare Turner | Individual | Shares 25–50%, Voting 25–50% | 2020-12-20 | Ceased 2023-11-01 |
| Guy Samuel Turner | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2016-12-23 | Ceased 2023-11-01 |
Filing timeline
Last 20 of 57 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-11-11 RESOLUTIONS Resolution
- 2023-11-11 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-06 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-01-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-13 | AA | accounts | Accounts with accounts type full | |
| 2025-07-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-08 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-08 | AA | accounts | Accounts with accounts type full | |
| 2025-01-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-08-01 | SH01 | capital | Capital allotment shares | |
| 2024-02-16 | TM01 | officers | Termination director company with name termination date | |
| 2024-01-04 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-01-03 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-01-03 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2024-01-03 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-11-11 | RESOLUTIONS | resolution | Resolution | |
| 2023-11-11 | MA | incorporation | Memorandum articles | |
| 2023-11-10 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-09 | TM01 | officers | Termination director company with name termination date | |
| 2023-11-09 | TM01 | officers | Termination director company with name termination date | |
| 2023-11-09 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 1
- Officers appointed
- 2
- Officers resigned
- 1
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.