THE GROWTH COMPANY LIMITED

1. THE GROWTH COMPANY LIMITED 2017-07-19 → present
2. ECONOMIC SOLUTIONS LIMITED 2006-04-03 → 2017-07-19
3. MANCHESTER ENTERPRISES LIMITED 2000-07-05 → 2006-04-03
4. MANCHESTER TEC LIMITED 1989-12-29 → 2000-07-05
5. SERVICEBASE LIMITED 1989-11-17 → 1989-12-29

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

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.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After due consideration, the directors have adopted the going concern basis in preparing the financial statements. The directors have made this assessment after consideration of the Group's financial position, cash flows, income projections and related assumptions. In making this assessment the directors have given consideration to the actual and potential future impacts of inflationary pressures, interest rates, the current economic conditions and the wars in Ukraine and Middle East on the cashflows and liquidity of the Group over the twelve-month period following the signature of these financial statements. Cash levels increased by £6.4m in the year. Future cashflow projections are being managed and monitored on a weekly basis to ensure sufficient liquidity of the Group, and the currently unused overdraft facility remains in place providing further headroom. The process that the directors have undertaken has included the consideration of regular updates from the executive and the consideration of several sensitivities to financial models and forecasts, specifically regarding cash and income. The Group's financial modelling has also considered the impact of additional reasonably possible downside scenarios which include the following: inflationary pressures, current bidding environment, ability to attract and retain staff, and, uncertainty around impact of national policy on programme funding. At the balance sheet date, the Company has net current liabilities of £2,944k (2024 £3,440k). The Company is supported by its subsidiaries. Based upon this support and expected profitability and cashflows of the group, which has net current assets of £13,498k (2024 £21,152k), the directors believe that it is appropriate to prepare the financial statements on a going concern basis. The holding company itself is in a net asset position and is satisfied that it can provide the parental guarantee required for those Group entities with an audit exemption under s179A of the Companies Act 2006. A call on this guarantee is not considered likely over the next twelve months. In all reasonably possible downside scenarios considered, including the aggregation of scenarios that could reasonably occur together, the forecasts showed that the Group and Company can continue to operate within its available facilities. Accordingly, the directors concluded that the going concern basis of accounting is appropriate.”

Group structure

1. THE GROWTH COMPANY LIMITED · parent
   1. Aspire Recruitment Partnership Limited · Recruitment
   2. BFS Funding Managers Limited 100% · Business funding manages the North West micro fund
   3. BFS NPIF General Partner Limited 100% · Administers the North West micro fund
   4. BFS NPIF II General Partner Limited 100% · Administers the North West smaller loans fund
   5. Centre for Assessment Limited 100% · Business support services
   6. Chamberlink Limited 100% · Dormant
   7. EKOS Consulting (UK) Limited 100% · Consultancy services
   8. Employment and Regeneration Partnership Limited 100% · Assisting the economically disadvantaged
   9. GC Insight Limited 100% · Holding company
   10. GM Business Support Limited 100% · Delivery of contracts to support growth of businesses and help for individuals to start a business
   11. Manchester Accommodation Business Improvement District Limited 100% · Promotion of Manchester and Salford to increase overnight stays
   12. Marketing Manchester 100% · Marketing of Greater Manchester region
   13. Recovery Works Limited 100% · Education, training and leisure activities for disadvantaged young people
   14. Skills and Work Solutions Limited 100% · Skills services
   15. The Enterprise Fund Limited 100% · Community development finance institution Funding for business
   16. TMI Practitioner Services Limited 100% · Supporting manufacturing companies
   17. Winning Moves Limited 100% · Management consultancy and business services software

Significant events

• “Our work this year contributed £774m in additional GVA to the economy. We enabled more than 38,000 businesses to improve and grow, created nearly 16,000 jobs and placed almost 8,500 people into work. More than 26,000 employment opportunities were created, safeguarded or filled. We helped 44,558 individuals to positively progress whether through skills, training, support, or work.”
• “Our income for 2024/25 was £121m, providing a strong platform for our projected income of £123m in 2025/26. This reflects our high bid win rate and includes investment in our organisational development and future profitable growth. Our customer satisfaction rating remained very high at 93% and we achieved an excellent average Net Promoter Score of 63.”
• “We built on our robust IT infrastructure by adapting to new technology and exploring AI/ digitalisation to realise efficiencies and identify market opportunities. This included the development and launch of the UK's first GenAI-powered business support chatbot.”
• “We continued to drive Social Value making significant progress in understanding, planning and managing our carbon footprint, supporting VCFSE/SMEs through Inclusive Procurement, and addressed underrepresentation in management while responding to new changes e.g. the new Procurement Act and increased cyber threats. Colleague engagement increased with the delivery of a robust People Strategy supported by the launch of a new company intranet and series of webinars, events and campaigns.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

5

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +15.4%

  £104,864,000 → £120,978,000

• Cash

  +43.2%

  £14,731,000 → £21,091,000

• Net assets

  +16%

  £18,638,000 → £21,619,000

• Employees

  +4.9%

  1,696 → 1,779

• Operating profit

  +249.8%

  £697,000 → £2,438,000

• Profit before tax

  +254.3%

  -£2,031,000 → £3,134,000

• Wages

  +11.3%

  £55,245,000 → £61,486,000

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