MERCURY MIDCO 1 LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2025-02-01
Confirmation statement due
2026-11-27 (in 6mo)
Last made up 2025-11-13
Watchouts
Cash
£1M
+38.6% vs 2024
Net assets
-£302M
-17.4% vs 2024
Employees
1,580
+1.2% vs 2024
Profit before tax
-£39M
-2.3% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2025-02-01
| Metric | Trend | 2024-02-03 | 2025-02-01 |
|---|---|---|---|
| Turnover | £360,580,000 | £399,948,000 | |
| Operating profit | £11,759,000 | £14,729,000 | |
| Profit before tax | -£38,222,000 | -£39,108,000 | |
| Net profit | -£39,433,000 | -£44,905,000 | |
| Cash | £935,000 | £1,296,000 | |
| Total assets less current liabilities | £171,421,000 | £171,655,000 | |
| Net assets | -£257,416,000 | -£302,115,000 | |
| Equity | -£257,416,000 | -£302,115,000 | |
| Average employees | 1,561 | 1,580 | |
| Wages | £40,786,000 | £43,853,000 |
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 | 2024-02-03 | 2025-02-01 |
|---|---|---|---|
| Operating margin | 3.3% | 3.7% | |
| Net margin | -10.9% | -11.2% | |
| Return on capital employed | 6.9% | 8.6% | |
| Gearing (liabilities / total assets) | 194.8% | 207.0% | |
| Current ratio | 1.43x | 1.46x | |
| Interest cover | 0.24x | 0.27x |
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
- Grant Thornton
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Board concluded in its view the going concern assumption is appropriate as the group will generate cash from its operating profit and has adequate resources, to cover working capital movements, tax, capital expenditure. The Group is now part of a wider Steve Madden group arrangement, under which unconditional parental support is in place.”
Group structure
- MERCURY MIDCO 1 LIMITED · parent
- Mercury Midco 2 Limited 97%
- Mercury Acquisitions Limited 97%
- Kurt Geiger Topco Limited 97%
- Jasper Footwear Limited 97%
- KG Group Holdings Limited 97%
- Kurt Geiger Limited 97%
- Kurt Geiger Ireland Limited 97%
- Kurt Geiger Italy Srl 97%
- Kurt Geiger Australia Pty Ltd 97%
- Kurt Geiger Germany GmbH 97%
- Kurt Geiger USA, INC. 97%
- Kurt Geiger Hong Kong Limited 97%
- Kurt Geiger France SAS 97%
- Kurt Geiger Shoes Limited 97%
- Carvela Limited 97%
- Shoeaholics Limited 97%
- Kurt Geiger Kindness Foundation 97%
Significant events
- “On 12 February 2025, the shareholders of Mercury Midco 1 Limited's parent company entered into a Sale and Purchase Deed with SML UK Holding Limited to acquire 100% of share capital. The Transaction completed on 6 May 2025, settling outstanding loan notes principal and accrued interest, and repaying external financing facilities.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CLIFFORD, Neil Charles | Director | 2016-02-19 | Feb 1967 | British |
| MAZOUZI, Zine | Director | 2025-05-06 | Feb 1972 | American |
| ROSENFELD, Edward | Director | 2025-05-06 | Sep 1975 | American |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CATTERALL, Peter Anthony Colin | Director | 2015-12-16 | 2016-02-19 |
| CHRISTILAW, Dale Nicholas | Director | 2016-02-19 | 2025-05-06 |
| CREWE, Maxim Devin | Director | 2015-12-16 | 2016-02-19 |
| FARRAR-HOCKLEY, Rebecca Elizabeth Alden | Director | 2016-02-19 | 2025-05-06 |
| MILLER-JONES, Charles Edward | Director | 2015-12-16 | 2016-02-19 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Sml Uk Holding Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2025-05-06 | Active |
| Cinven Partnership Llp | Corporate entity | Significant influence | 2021-10-14 | Ceased 2025-05-06 |
| Cinven Limited | Corporate entity | Appoints directors | 2016-04-06 | Ceased 2021-10-14 |
Filing timeline
Last 20 of 45 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-20 | AA | accounts | Accounts with accounts type group | |
| 2025-08-28 | AA01 | accounts | Change account reference date company current shortened | |
| 2025-06-12 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-06-12 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-05-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-09 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-09 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-06 | SH01 | capital | Capital allotment shares | |
| 2024-11-21 | AA | accounts | Accounts with accounts type group | |
| 2024-11-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-11 | AA | accounts | Accounts with accounts type group | |
| 2022-12-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-28 | AA | accounts | Accounts with accounts type group | |
| 2022-03-31 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2022-03-31 | PSC02 | persons-with-significant-control | Notification of a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 1
- Officers appointed
- 2
- Officers resigned
- 2
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
FY2024 → FY2025 · period ending 2025-02-01 vs 2024-02-03
-
Turnover
+10.9%
£360,580,000 £399,948,000
-
Cash
+38.6%
£935,000 £1,296,000
-
Net assets
-17.4%
-£257,416,000 -£302,115,000
-
Employees
+1.2%
1,561 1,580
-
Operating profit
+25.3%
£11,759,000 £14,729,000
-
Profit before tax
-2.3%
-£38,222,000 -£39,108,000
-
Wages
+7.5%
£40,786,000 £43,853,000
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