TIM MIDCO LIMITED
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Cash
£96M
+23.8% vs 2024
Net assets
-£226M
-67.8% vs 2024
Employees
2,366
+1.5% vs 2024
Profit before tax
-£91M
-83.9% vs 2024
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-09-30
| Metric | Trend | 2024-09-30 | 2025-09-30 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £776,500,000 | £757,300,000 | -2.5% | |
| Operating profit | -£9,800,000 | -£50,200,000 | -412.2% | |
| Profit before tax | -£49,700,000 | -£91,400,000 | -83.9% | |
| Net profit | -£46,700,000 | -£98,100,000 | -110.1% | |
| Cash | £77,400,000 | £95,800,000 | +23.8% | |
| Total assets less current liabilities | £213,300,000 | £155,500,000 | -27.1% | |
| Net assets | -£134,900,000 | -£226,400,000 | -67.8% | |
| Equity | -£134,900,000 | -£226,400,000 | -67.8% | |
| Average employees | 2,331 | 2,366 | +1.5% | |
| Wages | £130,200,000 | £125,900,000 | -3.3% | |
| Directors' remuneration | £7,400,000 | £6,600,000 | -10.8% |
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 | 2024-09-30 | 2025-09-30 |
|---|---|---|---|
| Operating margin | -1.3% | -6.6% | |
| Net margin | -6.0% | -13.0% | |
| Return on capital employed | -4.6% | -32.3% | |
| Gearing (liabilities / total assets) | 120.3% | 138.2% | |
| Current ratio | 0.54x | 0.50x | |
| Interest cover | -0.20x | -1.15x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Given the results of the modelling performed, the Directors have concluded that it is appropriate to prepare these financial statements on a going concern basis of accounting. In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- TIM MIDCO LIMITED · parent
- Alkor Yat Turizm Isletmeciligi AS 100%
- Antigua Charter Services Limited 100%
- Connoisseur Belgium BV 100%
- Crown Blue Line France SAS 100%
- Crown Blue Line GmbH 100%
- Crown Blue Line Limited 100%
- Crown Holidays Limited 100%
- Crown Travel Limited 100%
- EEFC, Inc 100%
- Emerald Star Limited 100%
- Enchanting Africa Ltd 100%
- Enchanting Travels AG 100%
- Enchanting Travels Inc 100%
- Enchanting Travels Pvt. Ltd 100%
- Exodus Travels Australia PTY Ltd 100%
- Exodus Travels Canada Inc 100%
- Exodus Travels USA, Inc 100%
- FCM (BVI) Limited 100%
- FCM Yachts (USVI) LLC 100%
- Gei-Moorings LLC 100%
- Gullivers Group Limited 100%
- Headwater Holidays Limited 100%
- Hellenic Sailing Holidays SA 100%
- Hellenic Sailing SA 100%
- Kalos Tours LLC 100%
- Le Boat Limited 100%
- Le Boat Netherlands BV 100%
- Mariner Expeditions, Inc 100%
- Mariner International (Grenada) Limited 100%
- Mariner International (Martinique) SAS 100%
- Mariner International (UK) Limited 100%
- Mariner International (USA), Inc 100%
- Mariner International Travel (UK) Limited 100%
- Mariner International Travel, Inc 100%
- Mariner Travel GmbH 100%
- Mariner Travel Mexico Base, S.A. de C.V. 100%
- Mariner Travel Mexico Shipping, S.A. de C.V. 49%
- Mariner Travel SARL 100%
- Mariner Yacht Services SA 100%
- Mariner Yachts (Pty) Limited 100%
- Maxi Yen SL 100%
- Moorings Grenadines Limited 100%
- Moorings Yachting SAS 100%
- Moorings Yat Isletmeciligi Turizm Ve Ticaret Ltd Sti 100%
- Porter and Haylett Limited 100%
- Prestige Boating Holidays Limited 100%
- Quark Expeditions Australia PTY Limited 100%
- Quark Expeditions, Inc 100%
- SAS The Moorings 100%
- Sunsail (Antigua) Limited 100%
- Sunsail (Australia) Pty Ltd 100%
- Sunsail (Seychelles) Limited 100%
- Sunsail (Thailand) Co. Ltd 100%
- Sunsail Adriatic d.o.o. 100%
- Sunsail Hellas MEPE 100%
- Sunsail SARL 100%
- Sunsail Spain S.L. 100%
- Sunsail Worldwide Sailing (St. Vincent) Limited 100%
- Sunsail Worldwide Sailing Limited 100%
- TCO USA Inc 100%
- TCS & Starquest Expeditions, Inc 100%
- The Moorings (Bahamas) Ltd 100%
- The Moorings (Seychelles) Ltd 100%
- The Moorings (St Lucia) Ltd 100%
- The Moorings Belize Limited 100%
- The Moorings d.o.o. 100%
- The Moorings Limited 100%
- The Moorings Sailing Holidays Limited 100%
- TIM Bidco 1 Limited 100%
- TIM Bidco II Corp 100%
- TIM Holdco Limited 100%
- Travcoa Corporation 100%
- Travel Services Europe Spain SL 100%
- Travelopia Central Operations Limited 100%
- Travelopia Contract Services Limited 100%
- Travelopia Costa Rica S.R.L. 100%
- Travelopia France SARL 100%
- Travelopia Holdings (Australia) Pty Limited 100%
- Travelopia Holdings Limited 100%
- Travelopia USA Inc 100%
- Trek Investco Limited 100%
- Versun Yachts NSA 100%
- Vinson Expeditions LLC 100%
- Yachts International Limited 100%
- Yil, LLC 100%
Significant events
- “Subsequent to the financial year end, in December 2025, a further £2.0m of Acquisition Debt was received from Travelopia Adventure Limited, following receipt of approval from the Civil Aviation Authority.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| NORTHEY, Janet | Secretary | 2023-09-26 | — | — |
| BAORDA, Paolo Pietro | Director | 2022-06-01 | Jun 1993 | German |
| BINEFA, Dominic Antonio | Director | 2022-06-01 | Mar 1983 | British |
| DE OCHOA, Juan Ignacio | Director | 2020-07-28 | Jan 1967 | Spanish |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| METZNER, Joerg | Director | 2017-02-07 | 2022-05-31 |
| PILLOT, Edouard Jean Charles | Director | 2017-02-07 | 2020-08-24 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Travelopia Group Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-02-07 | Active |
Filing timeline
Last 20 of 53 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-11 | AA | accounts | Accounts with accounts type group | |
| 2026-02-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-21 | AA | accounts | Accounts with accounts type group | |
| 2025-02-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-09-27 | SH01 | capital | Capital allotment shares | |
| 2024-09-25 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-09-25 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-02-28 | AA | accounts | Accounts with accounts type group | |
| 2024-02-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-27 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-06-14 | AA | accounts | Accounts with accounts type group | |
| 2023-02-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-06-09 | AA | accounts | Accounts with accounts type group | |
| 2022-06-07 | CH01 | officers | Change person director company with change date | |
| 2022-06-07 | CH01 | officers | Change person director company with change date | |
| 2022-06-06 | AP01 | officers | Appoint person director company with name date | |
| 2022-06-06 | AP01 | officers | Appoint person director company with name date | |
| 2022-05-31 | TM01 | officers | Termination director company with name termination date | |
| 2022-02-14 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 1
- 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.