ROCKET TOPCO (CITATION) LIMITED
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Cash
£26M
+33.4% vs 2023
Net assets
-£867M
-18.4% vs 2023
Employees
1,854
+1.7% vs 2023
Profit before tax
-£142M
-24.5% vs 2023
Net assets
2-year trend · vs Unclassified median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £262,535,000 | £275,414,000 | |
| Operating profit | -£6,088,000 | -£26,071,000 | |
| Profit before tax | -£113,926,000 | -£141,820,000 | |
| Net profit | -£115,520,000 | -£141,038,000 | |
| Cash | £19,638,000 | £26,195,000 | |
| Total assets less current liabilities | £284,546,000 | £301,134,000 | |
| Net assets | -£732,022,000 | -£866,730,000 | |
| Equity | -£732,022,000 | -£866,730,000 | |
| Average employees | 1,823 | 1,854 | |
| Wages | £82,713,000 | £90,637,000 |
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 | -2.3% | -9.5% | |
| Net margin | -44.0% | -51.2% | |
| Return on capital employed | -2.1% | -8.7% | |
| Gearing (liabilities / total assets) | 311.9% | 322.2% | |
| Current ratio | 1.59x | 1.18x | |
| Interest cover | -0.06x | -0.22x |
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
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors are therefore satisfied they have a reasonable basis upon which to conclude that the Group is able to continue as a going concern to 31 July 2026.”
Group structure
- ROCKET TOPCO (CITATION) LIMITED · parent
- Rocket Midco Limited 100%
- Rocket Bidco Limited 100%
- Citation Topco Limited 100%
- Citation Midco Limited 100%
- Citation Holdings Limited 100%
- Citation Limited 100%
- Citation ISO Certification Limited 100%
- Safety Management Advisory Services Limited 100%
- Citation Fire & Electrical Limited 100%
- Solutionhost Group Limited 100%
- HS Direct Limited 100%
- Solution Host (UK) Limited 100%
- EL Direct Ltd 100%
- Southall Associates Ltd 100%
- Food Alert Limited 100%
- NT Assure Limited 100%
- The Xact Group Limited 100%
- iHASCO Ltd 100%
- Employment Law Advisory Services Limited 100%
- Support, Training & Services Limited 100%
- Fire Finco Limited 100%
- Simply Safe Worldwide Limited 100%
- uCheck Limited 100%
- Citation Cyber Limited 100%
- Surefoot Solutions Limited 100%
- Disclosure Services Ltd 100%
- Common Sense Compliance Limited 100%
- Timetastic Ltd 100%
- QuiqSolutions Limited 100%
- Citation Hero Limited 100%
- Citation Canada Inc 100%
- Citation Holdings Pty Ltd 75%
- Citation Group Pty Ltd 75%
- Citation Legal Pty Limited 75%
- Citation Migration Pty Ltd 75%
- enableHR Pty Limited 75%
- enableHR Pty Limited New Zealand 75%
- Citation HR Pty Ltd 75%
- Citation HR Limited 75%
- Consolidated Compliance Holdings Pty Limited 75%
- Citation Certification Pty Limited 75%
- QMS Certification Services International Pte Ltd 75%
- Best Practice Certification Pty Limited 75%
- Agendrix Inc. 100%
- Citation Standards Pty Ltd 100%
- Careskills Academy Ltd 100%
- Be Certified Limited 100%
- Flexebee Ltd 100%
Significant events
- “In the year ended 31 December 2024 the Group continued to grow organically via the acquiring of new business, the renewal of existing customers onto new contracts and the cross-selling of the Group's products and services to new and existing customers within and between individual businesses' customer bases.”
- “During the year the Group continued to grow via merger and acquisition activity and made four acquisitions which added complementary services to the Group's product offering.”
- “PricewaterhouseCoopers Compliance Services Pty Ltd (subsequently known as Citation Standards Pty Ltd from 22 February 2024), a provider of ISO Certification & ISO Consultancy Services in Australia, on 16 February 2024; Careskills Academy Ltd, a provider of eLearning Services in the United Kingdom, on 29 February 2024; Agendrix Inc., a provider of Human Resources Services in Canada, on 12 June 2024; Flexebee Ltd, a provider of eLearning Services in the United Kingdom, on 1 October 2024.”
- “On 1 July 2024 the Company bought back 15,757,272 A preference shares previously issued on 15 September 2020 and held by Hg via HGCapital 8 Nominees Limited. The total value paid for the shares was £24,250,000.”
- “The group has undertaken a group reorganisation exercise which completed on 28 February 2025. As part of the reorganisation KKR (40.84%), Hg (40.84%), a new minority investor Harbour Vest (14.98%), and certain members of the Group's management team (3.34%), via the newly formed Broom Topco Limited together acquired 100% of the share capital of Rocket Topco Limited.”
- “On 18 December 2024 the Group signed an agreement to undertake an exercise to refinance the outstanding amounts relating to each of the unitranche loan facility, the acquisition credit facility, the 2023 acquisition credit facility and the revolving credit facility. This exercise completed on 16 January 2025.”
- “In 2025 two further acquisitions have been made: TrustID Limited and its subsidiary Red and White Solutions Limited, a provider of Digital ID Checking Services in the United Kingdom, on 19 March 2025; FoundU Holdings Limited, a provider of Payroll Services in Australia, on 13 May 2025.”
- “On 7 March 2025 a repayment of $62,924,000 AUD was made on the new revolving credit facility.”
- “On 18 March 2025 a drawdown of £24,016,000 was made on the new revolving credit facility.”
- “On 19 March 2025 the Group acquired the final 25% of Citation Holdings Pty Ltd. The cash purchase price was $41,000,000 AUD.”
- “On 19 March 2025 the Group acquired TrustID Limited and its subsidiary Red and White Solutions Limited, a provider of Digital ID Checking Services. The initial cash purchase price was £21,178,000 with up to a further £5,000,000 of deferred remuneration dependent on service and performance milestones.”
- “On 22 April 2025 a drawdown of £24,470,000 was made on the DDTL facility and a repayment of £24,016,000 was made on the new revolving credit facility.”
- “On 1 May 2025 a drawdown of $30,904,000 AUD was made on the new revolving credit facility.”
- “On 1 May 2025 the Company issued 25,000,000 Ordinary shares at a price of £1.00 per share and with an aggregate value of £25,000,000.”
- “On 7 May 2025 the Group extended the ceiling of the DTTL facility by £100,000,000 from £100,000,000 to £200,000,000.”
- “On 13 May 2025 the Group acquired foundU Holdings Ltd, a provider of Payroll Services. The initial cash purchase price was $71,726,000 AUD with up to a further $2,000,000 AUD of deferred remuneration dependent on service and integration related milestones.”
- “On 28 July 2025 a drawdown of $31,425,000 AUD was made on the DDTL facility and a repayment of $30,904,000 AUD was made on the new revolving credit facility.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MAPLE COMPANY SECRETARY (JERSEY) LIMITED | Corporate Secretary | 2021-09-01 | — | — |
| MORRIS, Christopher Paul | Director | 2021-09-01 | Feb 1972 | British |
| WANN, Eloise | Director | 2021-09-01 | Sep 1977 | British |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BIBI, Rami Mofak | Director | 2021-09-01 | 2025-02-28 |
| DEROO, Matthijs Gaston M | Director | 2023-10-14 | 2025-01-07 |
| JORDAN, Nicholas David Lloyd | Director | 2025-01-07 | 2025-02-28 |
| KINSELLA, Louis | Director | 2021-09-01 | 2023-10-14 |
| PIRRIE-FRANKS, Timothy Robert | Director | 2021-09-01 | 2023-10-17 |
| VAN GOOL, Joris Karel Imelda | Director | 2021-09-01 | 2025-02-28 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 21 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-06 | AA | accounts | Accounts with accounts type group | |
| 2025-11-06 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2025-11-06 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2025-11-06 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2025-02-13 | OSCH03 | officers | Change person director overseas company with change date | |
| 2025-02-11 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2025-01-22 | OSCH03 | officers | Change person director overseas company with change date | |
| 2025-01-22 | OSCH03 | officers | Change person director overseas company with change date | |
| 2025-01-22 | OSCH03 | officers | Change person director overseas company with change date | |
| 2025-01-22 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2024-11-04 | AA | accounts | Accounts with accounts type group | |
| 2024-09-23 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2024-08-01 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2024-08-01 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2024-04-19 | OSCH01 | other | Change company details by uk establishment overseas company with change details | |
| 2023-11-03 | AA | accounts | Accounts with accounts type group | |
| 2023-01-18 | AA | accounts | Accounts with accounts type full | |
| 2021-10-14 | AA01 | accounts | Change account reference date company current extended | |
| 2021-09-01 | OS-PAR | annual-return | Appointment at registration of person authorised to represent | |
| 2021-09-01 | OS-PAR | annual-return | Appointment at registration of person authorised to accept service |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- 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 2023-12-31
-
Turnover
+4.9%
£262,535,000 £275,414,000
-
Cash
+33.4%
£19,638,000 £26,195,000
-
Net assets
-18.4%
-£732,022,000 -£866,730,000
-
Employees
+1.7%
1,823 1,854
-
Operating profit
-328.2%
-£6,088,000 -£26,071,000
-
Profit before tax
-24.5%
-£113,926,000 -£141,820,000
-
Wages
+9.6%
£82,713,000 £90,637,000
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