SANTORINI (TOPCO) LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-02 (in 6mo)
Last made up 2025-10-19
Watchouts
None on the register
Cash
£6M
Latest balance sheet
Net assets
-£62M
Equity attributable
Employees
667
Average over period
Profit before tax
-£35M
Period ending 2024-12-31
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-09-30 | 2024-12-31 |
|---|---|---|---|
| Turnover | £44,811,000 | £75,928,000 | |
| Operating profit | -£11,190,000 | -£11,354,000 | |
| Profit before tax | -£27,640,000 | -£34,515,000 | |
| Net profit | -£26,857,000 | -£33,866,000 | |
| Cash | £3,470,000 | £5,801,000 | |
| Total assets less current liabilities | £148,267,000 | £140,019,000 | |
| Net assets | -£27,537,000 | -£61,670,000 | |
| Equity | -£27,537,000 | -£61,670,000 | |
| Average employees | 551 | 667 | |
| Wages | £20,694,000 | £34,578,000 |
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 | 2023-09-30 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -25.0% | -15.0% | |
| Net margin | -59.9% | -44.6% | |
| Return on capital employed | -7.5% | -8.1% | |
| Current ratio | 1.46x | 1.38x | |
| Interest cover | -0.68x | -0.49x |
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
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on the going concern basis which the directors believe to be appropriate for the following reasons. The directors have prepared cash flow forecasts for a 12 month period from the date of approval of these financial statements which indicate that the Company and the Group can operate within their current committed bank facilities and that there is ample headroom on the loan covenants. As a result, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.”
Group structure
- SANTORINI (TOPCO) LIMITED · parent
- Santorini (Midcol) Limited 100%
- Santorini (Midco2) Limited 100%
- Santorini (Bidco) Limited 100%
- LF (Holdco) Limited 100%
- Source 24 Limited 100%
- Little Fish (UK) Limited 100%
- Storm Technology Limited 100%
Significant events
- “Storm Technology Limited, a leading Microsoft business technology consultancy based in Ireland, was acquired on 1 August 2024, in order to expand and complement the group's IT service portfolio.”
- “Following the investment made by Bowmark Capital in the Group on 2 September 2022, significant investment has been made in the cost base to support growth plans including expanding the senior leadership team, enhancing and broadening capability, and expanding overall operational capacity to support future contract wins with, the significant benefits of this investment seen in the current period results.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DELANEY, Stephen Ross | Director | 2022-07-04 | May 1980 | British |
| FLANNERY, Karl | Director | 2024-08-01 | Apr 1960 | Irish |
| GILBERT, Graham Mark | Director | 2022-09-02 | Aug 1963 | British |
| KAUFMAN, Simon Charles | Director | 2022-07-04 | May 1986 | British |
| KELLER, Leon Benjamin Asher | Director | 2023-04-17 | Feb 1980 | British |
| MORGENSTERN, Ursula | Director | 2025-03-17 | Apr 1965 | British |
| PELL, Steve | Director | 2024-04-18 | Jan 1973 | British |
| ROBINSON, Stephen Michael | Director | 2022-09-02 | Jul 1978 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BAGGULEY, Caroline Anne | Director | 2022-09-02 | 2023-04-17 |
| HALL, Steve | Director | 2024-04-18 | 2025-03-17 |
| ROOME, Richard Lawrence | Director | 2022-09-02 | 2024-04-18 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bowmark Gp Vi Llp | Corporate entity | Voting 50–75%, Appoints directors | 2022-09-02 | Active |
| Bowmark Capital Llp | Corporate entity | Significant influence | 2022-09-02 | Active |
| Bowmark Investment Partnership Vi, Nominees Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2022-07-04 | Ceased 2022-09-02 |
| Bowmark Capital Partners Vi, Nominees Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2022-07-04 | Active |
Filing timeline
Last 20 of 64 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-01-12 RESOLUTIONS Resolution
- 2025-03-26 RESOLUTIONS Resolution
- 2025-03-26 MA Memorandum articles
- 2024-08-20 MA Memorandum articles
- 2024-08-20 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-13 | SH01 | capital | Capital allotment shares | |
| 2026-01-12 | RESOLUTIONS | resolution | Resolution | |
| 2026-01-07 | SH08 | capital | Capital name of class of shares | |
| 2026-01-07 | SH10 | capital | Capital variation of rights attached to shares | |
| 2025-10-31 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-27 | AA | accounts | Accounts with accounts type group | |
| 2025-03-26 | SH10 | capital | Capital variation of rights attached to shares | |
| 2025-03-26 | SH08 | capital | Capital name of class of shares | |
| 2025-03-26 | RESOLUTIONS | resolution | Resolution | |
| 2025-03-26 | MA | incorporation | Memorandum articles | |
| 2025-03-24 | SH01 | capital | Capital allotment shares | |
| 2025-03-20 | AP01 | officers | Appoint person director company with name date | |
| 2025-03-20 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-28 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-10-28 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-10-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-08-20 | MA | incorporation | Memorandum articles | |
| 2024-08-20 | RESOLUTIONS | resolution | Resolution | |
| 2024-08-15 | SH01 | capital | Capital allotment shares | |
| 2024-08-14 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 9
- 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.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-09-30