TREATWELL LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-03-04 (in 10mo)
Last made up 2026-02-18
Watchouts
Cash
£22M
-17.2% vs 2023
Net assets
£2M
+104.2% vs 2023
Employees
731
-15% vs 2023
Profit before tax
-£12M
+46.9% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
As the Group and Parent Company are reliant on the wider Real Web S.A. Group for funding which is not guaranteed, this indicates the existence of a material uncertainty which may cast significant doubt on the ability of the Group and the Parent Company 10 continue as going concerns and therefore, the Group and the Parent Company may be unable to realise their assets and discharge their liabilities in the normal course of business. The financial statements do not include any adjustments that would be necessary should the going concern basis of preparation be inappropriate.
Name history
Renamed 2 times since incorporation
- TREATWELL LIMITED 2021-11-11 → present
- HOTSPRING VENTURES LIMITED 2007-12-21 → 2021-11-11
- HOTSPRINGS VENTURES LIMITED 2007-12-19 → 2007-12-21
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £63,305,000 | £77,502,000 | |
| Operating profit | -£21,174,000 | -£10,947,000 | |
| Profit before tax | -£23,168,000 | -£12,313,000 | |
| Net profit | -£21,884,000 | -£12,334,000 | |
| Cash | £26,537,000 | £21,964,000 | |
| Total assets less current liabilities | £12,764,000 | £6,339,000 | |
| Net assets | -£46,558,000 | £1,942,000 | |
| Equity | -£46,558,000 | £1,942,000 | |
| Average employees | 860 | 731 | |
| Wages | £37,699,000 | £35,656,000 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -33.4% | -14.1% | |
| Net margin | -34.6% | -15.9% | |
| Return on capital employed | -165.9% | -172.7% | |
| Gearing (liabilities / total assets) | 201.7% | 94.9% | |
| Current ratio | 0.99x | 0.86x | |
| Interest cover | -10.62x | -8.01x |
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
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“As the Group and Parent Company are reliant on the wider Real Web S.A. Group for funding which is not guaranteed, this indicates the existence of a material uncertainty which may cast significant doubt on the ability of the Group and the Parent Company 10 continue as going concerns and therefore, the Group and the Parent Company may be unable to realise their assets and discharge their liabilities in the normal course of business. The financial statements do not include any adjustments that would be necessary should the going concern basis of preparation be inappropriate.”
Group structure
- TREATWELL LIMITED · parent
- Treatwell BNL B.V. 100%
- Treatwell DACH GmbH 100%
- Treatwell FR SAS 97.5%
- Treatwell IT s.r.l. 100%
- Treatwell LT UAB 100%
- Treatwell Spain s.l. 100%
- Treatwell PT Lda 100%
- Salonized Holding B.V. 96.9%
- Funkmartini Ltd 100%
- Treatwell US Inc 100%
- Salonized B.V. 96.9%
- Salonized Treatwell B.V. 96.9%
- TDLE 97.5%
- TDLS SARL 97.5%
Significant events
- “After the reporting date, the Group's immediate parent, Real Web S.A. provided additional funding totalling €8,500,000 to the Treatwell group in the form of 3 loans. The loans accrue interest at 4% per annum and have a term of 1 year from the date funding was provided with the possibility to extend with written notice up to a maximum of 3 years.”
- “After the reporting date, the Company's immediate parent, Real Web S.A. issued a long term incentive plan an employee in form of a share based payment scheme. Upon vesting, the scheme gives the employee the option to either purchase shares in Treatwell Limited from Real Web S.A. at an agreed exercise price or receive a cash payment based on fair market value of the shares.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 28 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HANLON, James Tobias | Secretary | 2022-10-04 | — | — |
| CHIERUZZI PAZZAGLIA, Massimo | Director | 2025-03-17 | Nov 1978 | Italian |
| FRAU, Alessandro | Director | 2025-03-17 | Dec 1984 | Italian |
| PICCIONI, Andrea | Director | 2023-12-06 | Jan 1967 | Italian |
| WELLINGER, Andreas | Director | 2024-12-31 | Sep 1986 | Austrian |
Show 28 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CHAMPALIMAUD, Lopo Lindley | Secretary | 2007-12-19 | 2013-05-01 |
| LAWTON, Catherine Eleanor | Secretary | 2013-05-01 | 2013-08-12 |
| BROCH, Eileen | Director | 2008-02-14 | 2011-01-10 |
| BURBIDGE, Eileen | Director | 2011-05-23 | 2013-06-14 |
| BURNS, Lauren Jean | Director | 2020-01-01 | 2021-01-31 |
| CHAMPALIMAUD, Lopo Lindley | Director | 2007-12-19 | 2019-12-31 |
| DAVENPORT, Claire Suzanne | Director | 2023-12-06 | 2024-01-12 |
| GOODWIN, Jonathan Philip Pryce | Director | 2014-10-28 | 2015-05-01 |
| HEBEL, Davor | Director | 2011-09-30 | 2015-05-01 |
| HENGST, Wolf H | Director | 2008-02-14 | 2014-07-23 |
| HICKS, Mack | Director | 2008-02-14 | 2011-09-30 |
| HIDAKA, Hideyuki | Director | 2015-06-04 | 2016-04-21 |
| HINTEREGGER, Tobias | Director | 2023-12-06 | 2025-12-31 |
| INOUE, Naoki | Director | 2015-07-23 | 2017-10-31 |
| KAJI, Keisuke | Director | 2020-01-01 | 2021-01-31 |
| KAWASHIMA, Hidetaka | Director | 2016-04-21 | 2020-06-24 |
| KOSZAŁKOWSKI, Michał Teodor | Director | 2021-12-09 | 2024-12-06 |
| LEAVER, Benjamin William | Director | 2015-07-23 | 2019-12-31 |
| LEAVER, Benjamin William | Director | 2015-04-24 | 2015-05-01 |
| LEAVER, Benjamin William | Director | 2014-09-07 | 2014-10-28 |
| MARINO, Giampiero | Director | 2021-01-28 | 2024-02-27 |
| MITHA, Salim Sherali | Director | 2007-12-19 | 2011-05-23 |
| NYENGAARD, Klaus Randel | Director | 2013-06-14 | 2015-07-30 |
| PICCIONI, Andrea | Director | 2021-01-31 | 2021-12-24 |
| UUDAM, Margus | Director | 2012-11-23 | 2015-05-01 |
| WARD, Dominic Simon Rupert | Director | 2013-12-31 | 2014-10-28 |
| WATANABE, Kazumasa | Director | 2014-07-10 | 2020-06-24 |
| ZUBILLAGA-ORTIZ, Alejandro | Director | 2010-09-13 | 2015-05-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Andrea Piccioni | Individual | Shares 25–50%, Voting 25–50% | 2020-06-24 | Active |
| Silvio Pagliani | Individual | Shares 25–50%, Voting 25–50% | 2020-06-24 | Active |
| Rgf Beauty Uk Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2020-06-24 |
Filing timeline
Last 20 of 238 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-30 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-13 | AA | accounts | Accounts with accounts type group | |
| 2025-11-04 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-10 | CH01 | officers | Change person director company with change date | |
| 2025-07-10 | CH01 | officers | Change person director company with change date | |
| 2025-03-28 | CH01 | officers | Change person director company with change date | |
| 2025-03-28 | CH01 | officers | Change person director company with change date | |
| 2025-03-28 | CH01 | officers | Change person director company with change date | |
| 2025-03-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-26 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-13 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-02-13 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-12-31 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-30 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2024-12-30 | SH20 | capital | Legacy | |
| 2024-12-30 | CAP-SS | insolvency | Legacy | |
| 2024-12-30 | RESOLUTIONS | resolution | Resolution | |
| 2024-12-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-28 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 3
- Officers appointed
- 0
- 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.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+22.4%
£63,305,000 £77,502,000
-
Cash
-17.2%
£26,537,000 £21,964,000
-
Net assets
+104.2%
-£46,558,000 £1,942,000
-
Employees
-15%
860 731
-
Operating profit
+48.3%
-£21,174,000 -£10,947,000
-
Profit before tax
+46.9%
-£23,168,000 -£12,313,000
-
Wages
-5.4%
£37,699,000 £35,656,000
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