CYCLE GROUP HOLDINGS LIMITED
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Cash
£32m
USD 42,503,000
-43.1% vs 2024
Net assets
£66m
USD 89,092,000
+58.2% highest in 3 filed years
Employees
179
+61.3% highest in 3 filed years
Profit before tax
£35m
USD 46,937,000
+19.3% highest in 3 filed years
Net assets
3-year trend · vs Health Care median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £75,266,444 | £99,214,418 | £151,870,680 | +53.1% | |
| Operating profit | £4,797,473 | £30,508,361 | £39,710,145 | +30.2% | |
| Profit before tax | £3,777,778 | £29,229,283 | £34,884,430 | +19.3% | |
| Net profit | £5,010,033 | £23,204,757 | £25,740,617 | +10.9% | |
| Cash | £21,619,472 | £55,549,610 | £31,589,000 | -43.1% | |
| Total assets less current liabilities | £25,414,344 | £47,256,782 | £78,985,507 | +67.1% | |
| Net assets | £19,254,552 | £41,865,478 | £66,214,790 | +58.2% | |
| Equity | £19,254,552 | £41,865,478 | £66,214,790 | +58.2% | |
| Average employees | 97 | 111 | 179 | +61.3% | |
| Wages | £10,411,000 | £13,968,785 | £21,577,109 | +54.5% | |
| Directors' remuneration | £1,424,006 | £1,534,745 | £1,684,876 | +9.8% |
Figures converted to GBP from USD at 0.743 per USD (Frankfurter spot rate) — hover any figure for the original. — 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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 6.4% | 30.7% | 26.1% | |
| Net margin | 6.7% | 23.4% | 16.9% | |
| Return on capital employed | 18.9% | 64.6% | 50.3% | |
| Gearing (liabilities / total assets) | 69.5% | 55.7% | 53.0% | |
| Current ratio | 1.25x | 1.73x | 1.27x | |
| Interest cover | 1.19x | 7.44x | 7.22x |
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
“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
- CYCLE GROUP HOLDINGS LIMITED · parent
- Cycle Pharmaceuticals Limited 100%
- Cycle Pharmaceuticals Inc 100%
- Varsity Pharmaceuticals Limited 100%
- Banner Life Sciences LLC 100%
- AT2B Inc 100%
Significant events
- “In January 2025 the Group purchased Banner Life Sciences LLC and its BAFIERTAM product for $51,637k from its existing cash reserves.”
- “In March 2025, the Group signed a $100,000k Revolving Credit Facility.”
- “The group repaid its remaining liability under the loan from Deutsche Bank ($14,438k) in April 2025.”
- “On 3 February 2026, Cycle completed the acquisition of NASDAQ-listed Applied Therapeutics Inc (Applied), a clinical-stage biopharmaceutical company.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| REINER, Andrea Curti | Secretary | 2025-11-13 | — | — |
| BUCKERIDGE, David James | Director | 2020-09-09 | Feb 1960 | British |
| CATES, Antony George | Director | 2021-09-24 | Mar 1966 | British |
| HARRISON, James Alexander | Director | 2020-06-30 | Feb 1974 | British |
| MOORE, Duncan Charles Mcnaught | Director | 2020-07-07 | Jan 1959 | British |
| REASON, Ross George | Director | 2025-08-01 | May 1961 | British |
| ROBINSON, William John | Director | 2020-07-07 | Feb 1948 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GOWING, Sarah Jean | Secretary | 2021-08-01 | 2025-11-13 |
| BRUNA, Alejandra, Dr | Director | 2021-04-01 | 2024-04-01 |
| REASON, Ross George | Director | 2020-07-07 | 2024-09-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr James Alexander Harrison | Individual | Shares 50–75%, Voting 50–75%, Appoints directors | 2020-06-30 | Active |
Filing timeline
Last 20 of 83 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-26 | AA | accounts | Accounts with accounts type group | |
| 2026-06-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-05-11 | SH01 | capital | Capital allotment shares | |
| 2026-04-22 | SH03 | capital | Capital return purchase own shares | |
| 2026-04-02 | SH06 | capital | Capital cancellation shares | |
| 2026-03-18 | SH01 | capital | Capital allotment shares | |
| 2026-02-19 | SH01 | capital | Capital allotment shares | |
| 2025-12-09 | SH01 | capital | Capital allotment shares | |
| 2025-12-08 | SH03 | capital | Capital return purchase own shares | |
| 2025-11-14 | SH06 | capital | Capital cancellation shares | |
| 2025-11-13 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-11-13 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-11-12 | SH01 | capital | Capital allotment shares | |
| 2025-10-21 | SH01 | capital | Capital allotment shares | |
| 2025-08-13 | AA | accounts | Accounts with accounts type group | |
| 2025-08-01 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-08-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-07 | SH03 | capital | Capital return purchase own shares | |
| 2025-07-01 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-21 | MR04 | mortgage | Mortgage satisfy charge full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 17
- Capital events
- 11
- 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.