MPAAS LTD
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Next accounts due
2026-07-30 (in 2mo)
Last filed for 2024-10-31
Confirmation statement due
2026-09-01 (in 4mo)
Last made up 2025-08-18
Watchouts
Cash
£169K
+81.4% highest in 4 filed years
Net assets
-£16M
-54.7% lowest in 5 filed years
Employees
315
+37.6% highest in 5 filed years
Profit before tax
-£6M
+2.6% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Audit opinion: Qualified
Latest auditor's report carried a non-clean opinion.
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
6-year trend · vs Consumer Discretionary median
Accounts
6-year trend · latest reflected 2024-10-31
| Metric | Trend | 2019-10-31 | 2020-10-31 | 2021-10-31 | 2022-10-31 | 2023-10-31 | 2024-10-31 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | £12,083,893 | £21,054,708 | |
| Operating profit | — | — | — | — | -£5,398,227 | -£4,327,051 | |
| Profit before tax | — | — | — | — | -£5,900,608 | -£5,748,156 | |
| Net profit | — | — | — | — | -£5,900,608 | -£5,748,156 | |
| Cash | — | £2,788 | £116,017 | — | £92,903 | £168,525 | |
| Total assets less current liabilities | £100 | -£124,078 | -£1,256,324 | — | £1,265,629 | £3,557,753 | |
| Net assets | £100 | -£124,078 | -£1,256,324 | — | -£10,506,811 | -£16,254,967 | |
| Equity | £100 | -£124,078 | -£1,256,324 | — | -£10,506,811 | -£16,254,967 | |
| Average employees | 0 | 2 | 45 | — | 229 | 315 | |
| Wages | — | — | — | — | £8,008,334 | £11,647,757 | |
| Directors' remuneration | — | — | — | — | £104,200 | £169,764 |
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 2024-10-31 vs 2023-10-31
-
Turnover
+74.2%
£12,083,893 £21,054,708
-
Cash
+81.4%
£92,903 £168,525
highest in 4 filed years
-
Net assets
-54.7%
-£10,506,811 -£16,254,967
lowest in 5 filed years
-
Employees
+37.6%
229 315
highest in 5 filed years
-
Operating profit
+19.8%
-£5,398,227 -£4,327,051
-
Profit before tax
+2.6%
-£5,900,608 -£5,748,156
-
Wages
+45.4%
£8,008,334 £11,647,757
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 | 2019-10-31 | 2020-10-31 | 2021-10-31 | 2022-10-31 | 2023-10-31 | 2024-10-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -44.7% | -20.6% | |
| Net margin | — | — | — | — | -48.8% | -27.3% | |
| Return on capital employed | — | — | — | — | -426.5% | -121.6% | |
| Gearing (liabilities / total assets) | — | — | — | — | 430.2% | 350.0% | |
| Current ratio | — | — | — | — | 1.47x | 0.74x | |
| Interest cover | — | — | — | — | -11.36x | -3.03x |
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
- MPAAS LTD 2019-01-18 → present
- PAY LESS FOR WATER LTD 2015-10-12 → 2019-01-18
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Martlet Audit Limited
- Audit opinion
- Qualified
- Going concern
- Affirmed
“At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.”
Significant events
- “2024 has seen a material growth in FTEs with a growth of nearly 50% since the end of 2023.”
- “MPAAS Limited invested £5m to create a primary client relationship whilst securing new direct long-term contract from a historic third party contractual arrangement.”
- “During 2026, the company plans to establish a strategic back-office operation in Dubai.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BENBOW, Jordan Michael | Director | 2020-04-22 | Feb 1994 | British |
| BHATIA, Neeraj | Director | 2015-10-12 | Nov 1968 | Indian |
| DANIELS, Steven James | Director | 2015-10-12 | Apr 1979 | British |
| KUMAR, Vipan | Director | 2025-07-14 | Nov 1984 | Indian |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CAMPBELL, Kenneth Francis | Director | 2015-10-12 | 2025-07-16 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Gamechanger Investments Ltd | Corporate entity | Shares 25–50%, Voting 25–50% | 2025-07-24 | Active |
| Mr Steven James Daniels | Individual | Shares 25–50% | 2023-10-01 | Ceased 2025-07-24 |
| Mr Neeraj Bhatia | Individual | Shares 25–50% | 2023-10-01 | Active |
| Mr Vipan Kumar | Individual | Shares 25–50% | 2022-10-11 | Active |
| Mr Jordan Michael Benbow | Individual | Significant influence, significant-influence-or-control-as-firm | 2021-10-21 | Active |
| Mr Kenneth Francis Campbell | Individual | Significant influence | 2016-04-06 | Ceased 2021-10-22 |
Filing timeline
Last 20 of 42 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-24 | CH01 | officers | Change person director company with change date | |
| 2026-01-30 | AA | accounts | Accounts with accounts type full | |
| 2026-01-30 | AAMD | accounts | Accounts amended with accounts type total exemption full | |
| 2025-10-30 | AA01 | accounts | Change account reference date company current shortened | |
| 2025-08-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-13 | CH01 | officers | Change person director company with change date | |
| 2025-08-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-28 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-07-24 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-07-14 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-08 | AA | accounts | Accounts with accounts type total exemption full | |
| 2024-10-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-10-18 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-01-05 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-01-05 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-10-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-24 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2023-10-24 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2023-09-30 | DISS40 | gazette | Gazette filings brought up to date | |
| 2023-09-29 | AA | accounts | Accounts with accounts type unaudited abridged |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 0
- Officers appointed
- 1
- 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.