ITS (HOLDCO) LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-12-01 (in 7mo)
Last made up 2025-11-17
Watchouts
None on the register
Cash
£7M
+31% vs 2023
Net assets
-£77M
-84.6% lowest in 4 filed years
Employees
238
+19.6% vs 2023
Profit before tax
-£36M
-20.2% vs 2023
Net assets
5-year trend · vs Telecommunications median
Accounts
5-year trend · latest reflected 2024-12-31
| Metric | Trend | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|
| Turnover | — | — | — | £26,847,280 | £34,486,131 | |
| Operating profit | — | — | — | -£16,501,942 | -£14,221,426 | |
| Profit before tax | — | — | — | -£29,734,662 | -£35,734,860 | |
| Net profit | — | — | — | -£29,735,014 | -£35,734,860 | |
| Cash | — | — | — | £5,190,047 | £6,800,639 | |
| Total assets less current liabilities | — | — | — | £150,975,050 | £186,828,982 | |
| Net assets | — | £9,087,716 | £9,089,501 | -£41,959,506 | -£77,469,833 | |
| Equity | £9,079,665 | £9,087,716 | £9,089,501 | -£41,959,506 | -£77,469,833 | |
| Average employees | — | — | — | 199 | 238 | |
| Wages | — | — | — | £8,830,759 | £6,819,860 | |
| Directors' remuneration | — | — | — | £2,536,210 | £637,383 |
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
+28.5%
£26,847,280 £34,486,131
-
Cash
+31%
£5,190,047 £6,800,639
-
Net assets
-84.6%
-£41,959,506 -£77,469,833
lowest in 4 filed years
-
Employees
+19.6%
199 238
-
Operating profit
+13.8%
-£16,501,942 -£14,221,426
-
Profit before tax
-20.2%
-£29,734,662 -£35,734,860
-
Wages
-22.8%
£8,830,759 £6,819,860
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 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -61.5% | -41.2% | |
| Net margin | — | — | — | -110.8% | -103.6% | |
| Return on capital employed | — | — | — | -10.9% | -7.6% | |
| Current ratio | — | — | — | 1.52x | 1.74x | |
| Interest cover | — | — | — | -1.32x | -0.66x |
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
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- S&W Audit
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“These financial statements have been prepared on the going concern basis. In assessing the Group's ability to continue as a going concern, the directors have prepared a detailed cash flow forecast for a period of 12 months from the date of approval of these financial statements. These forecasts assume continuation of existing funding arrangements and continued financial support from the Group's ultimate parent undertaking.”
Group structure
- ITS (HOLDCO) LIMITED · parent
- ITS (Midco) Limited 100%
- ITS Technology Group Limited 100%
- NextGenAccess Limited 100%
- ITS Hammersmith and Fulham Limited 100%
- ITS Nottingham Limited 100%
- ITS Telecom Solutions Limited 100%
- BNET Ultra Limited 100%
Significant events
- “In 2025, ITS (Holdco) continued with the rapid expansion of its full fibre network across the UK with a drive to bring business grade connectivity to new areas and customers. Turnover has increased from £26,847,280 to £34,486,131 and the operating loss has decreased from £16,501,942 to £14,221,246.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KAMEEN, Carl Stuart | Secretary | 2022-06-06 | — | — |
| BAYTHORPE, Daren Andrew Steadman | Director | 2019-11-18 | Mar 1970 | British |
| GASKELL, Kevin Derek | Director | 2019-12-16 | Nov 1958 | British |
| MURPHY, Darryl Guy | Director | 2023-04-12 | Jan 1966 | British |
| SHERVELL, Ian, Mr. | Director | 2019-12-16 | Oct 1978 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| KAMEEN, Carl Stuart | Director | 2020-01-13 | 2022-06-06 |
| MCLACHLAN, Sean Kent | Director | 2019-12-16 | 2023-04-12 |
| SIMPSON, Andrew | Director | 2022-06-06 | 2024-12-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Aviva Investors Infrastructure Income No.6b Limited | Corporate entity | Shares 50–75%, Voting 75–100% | 2019-12-16 | Active |
| Daren Andrew Steadman Baythorpe | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-11-18 | Ceased 2019-12-16 |
Filing timeline
Last 20 of 77 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-06-06 RESOLUTIONS Resolution
- 2025-01-20 RESOLUTIONS Resolution
- 2025-01-10 RESOLUTIONS Resolution
- 2024-10-21 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-05 | AA | accounts | Accounts with accounts type group | |
| 2026-01-05 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-02 | SH01 | capital | Capital allotment shares | |
| 2025-06-06 | SH20 | capital | Legacy | |
| 2025-06-06 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-06-06 | CAP-SS | insolvency | Legacy | |
| 2025-06-06 | RESOLUTIONS | resolution | Resolution | |
| 2025-03-10 | AA | accounts | Accounts with accounts type group | |
| 2025-01-20 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-01-20 | SH20 | capital | Legacy | |
| 2025-01-20 | CAP-SS | insolvency | Legacy | |
| 2025-01-20 | RESOLUTIONS | resolution | Resolution | |
| 2025-01-10 | SH20 | capital | Legacy | |
| 2025-01-10 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-01-10 | CAP-SS | insolvency | Legacy | |
| 2025-01-10 | RESOLUTIONS | resolution | Resolution | |
| 2025-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-10-21 | RESOLUTIONS | resolution | Resolution | |
| 2024-10-02 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 8
- 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.