AZETS TOPCO LIMITED

1. AZETS TOPCO LIMITED 2020-10-12 → present
2. COGITAL TOPCO LIMITED 2016-12-05 → 2020-10-12

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

IFRS (EU ADOPTED)

Reporting scope

Consolidated group

Auditor

ERNST & YOUNG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. In making their assessment of going concern, the Directors have considered the Group's cashflows, liquidity and likely business activities over the period to March 2025. As set out in the basis of preparation, the results of the base case scenario cons”

Group structure

1. AZETS TOPCO LIMITED · parent
   1. Azets BA Bidco Limited 100% · Jersey · Provision of critical accountancy services, business support, BPO and advisory services
   2. Azets BA Holdco Limited 100% · Jersey · Provision of critical accountancy services, business support, BPO and advisory services
   3. Azets Document Solutions Limited 100% · United Kingdom · Provision of critical accountancy services, business support, BPO and advisory services
   4. Blick Rothenberg Limited 100% · United Kingdom · Provision of critical accountancy services, business support, BPO and advisory services
   5. Azets AS 100% · Norway · Provision of critical accountancy services, business support, BPO and advisory services
   6. Azets Denmark Holdco ApS 100% · Denmark · Provision of critical accountancy services, business support, BPO and advisory services
   7. Azets Estonia Holding OÜ 100% · Estonia · Provision of critical accountancy services, business support, BPO and advisory services
   8. Azets Finland Holdings Oy 100% · Finland · Provision of critical accountancy services, business support, BPO and advisory services
   9. Azets Sweden Holding AB 100% · Sweden · Provision of critical accountancy services, business support, BPO and advisory services
   10. Azets Document Solutions SRL 100% · Romania · Provision of critical accountancy services, business support, BPO and advisory services
   11. Azets Ireland Holdings Limited 100% · Republic of Ireland · Provision of critical accountancy services, business support, BPO and advisory services
   12. Gorilla Accounting Limited 100% · United Kingdom · Provision of critical accountancy services, business support, BPO and advisory services
   13. Naylor Wintersgill Limited 100% · United Kingdom · Provision of critical accountancy services, business support, BPO and advisory services
   14. Azets Sandisons Limited 100% · United Kingdom · Provision of critical accountancy services, business support, BPO and advisory services

Significant events

• “During the year ended 30 June 2023, the Group continued to acquire new businesses with a focus on high quality accountancy businesses and complimentary business services providers across existing and new geographies, aligned with the Group's strategic plan. The Group completed nine acquisitions during the year.”
• “On 19 June 2023, the Group announced that PAI Partners a pre-eminent private equity firm, has joined the business as a new investor. Following completion on 31 October 2023, PAI now holds an equal and co-controlling stake in Azets alongside current owners Hg, a leading investor in European and transatlantic software and services businesses.”
• “In October 2022, the Group completed a full refinancing of its banking arrangements, with committed facilities now secured until October 2029.”
• “On 31 October 2023, the Group acquired 100% of the share capital Thorell Revision AB.”

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

• Turnover

  +18.1%

  £558,731,000 → £659,809,000

• Cash

  +41.6%

  £39,693,000 → £56,202,000

• Net assets

  -29.1%

  -£374,205,000 → -£482,984,000

• Employees

  +9.5%

  6,812 → 7,460

• Operating profit

  +33%

  £20,587,000 → £27,377,000

• Profit before tax

  -35.9%

  -£68,959,000 → -£93,689,000

• Wages

  +16.1%

  £329,787,000 → £383,018,000

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