ELEMENTS TOPCO LIMITED
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Cash
£304M
Latest balance sheet
Net assets
-£388M
Equity attributable
Employees
3,771
Average over period
Profit before tax
-£433M
Period ending 2025-04-30
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
1-year trend · vs Unclassified median
Accounts
1-year trend · latest reflected 2025-04-30
| Metric | Trend | 2025-04-30 |
|---|---|---|
| Turnover | £422,753,000 | |
| Operating profit | -£8,190,000 | |
| Profit before tax | -£433,226,000 | |
| Net profit | -£394,913,000 | |
| Cash | £303,884,000 | |
| Total assets less current liabilities | — | |
| Net assets | -£388,171,000 | |
| Equity | -£388,170,000 | |
| Average employees | 3,771 | |
| Wages | £136,656,000 |
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 | 2025-04-30 |
|---|---|---|
| Operating margin | -1.9% | |
| Net margin | -93.4% | |
| Gearing (liabilities / total assets) | 108.4% | |
| Current ratio | 0.97x | |
| Interest cover | -0.02x |
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
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors believe that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they believe there is no material uncertainty in respect of going concern and continue to adopt the going concern basis in preparing the financial statements for the coming 12 months from the date of this report.”
Group structure
- ELEMENTS TOPCO LIMITED · parent
- 1Tap App Limited 100%
- AccountantsWorld LLC 100%
- Apex Software Technologies LLC 100%
- APS Global Limited 100%
- Atomic IT Limited 100%
- Blue Octopus Recruitment Limited 100%
- Bridgehead (Europe) Limited 100%
- Bridgehead (UK) Limited 100%
- Conarc Inc 100%
- Creative Solutions Software Corp 100%
- Datacode Tech Limited 100%
- Dataplan Holdings Limited 100%
- Dataplan Payroll Limited 100%
- Dext Australia Pty Limited 100%
- Dext Bidco Limited 100%
- Dext Bulgaria Limited 100%
- Dext Canada Limited 100%
- Dext France S.A.R.L 100%
- Dext Holdco Limited 100%
- Dext Midco Limited 100%
- Dext Software Limited 100%
- Dext South Africa Limited 100%
- Dext Topco Limited 100%
- Doc-It Corp 100%
- Doc-It Inc 100%
- Elements Bidco Limited 100%
- Elements Finco Limited 100%
- Elements Holdco 1 Limited 100%
- Elements Holdco 2 Limited 100%
- Elements Midco 1 Limited 100%
- Elements Midco 2 Limited 100%
- Eurowage Limited 100%
- FMP HR and Payroll Software Limited 100%
- Greenback Inc 100%
- Hatch Apps Limited 100%
- Hosted Accountants Limited 100%
- Human Capital Management LLC. 100%
- Indigo Marketing Limited 100%
- Innervision Management Limited 100%
- IRIS Americas Inc. 100%
- IRIS Bidco Limited 100%
- IRIS Business Software Limited 100%
- IRIS Canada Holdings Limited 100%
- IRIS Capital Limited 100%
- IRIS Global Inc. 100%
- IRIS Group Limited 100%
- IRIS Holdings Limited 100%
- IRIS KPO Resourcing (India) Private Limited 56%
- IRIS Midco Limited 100%
- IRIS Payroll Services Limited 100%
- IRIS Payroll Solutions Limited 100%
- IRIS Resourcing Limited 100%
- IRIS Software and Services Inc. 100%
- IRIS Software Group Limited 100%
- IRIS Software Limited 100%
- IRIS Software Technical Centre S.R.L. 100%
- IRIS US Holdings Limited 100%
- iSAMS Limited 100%
- iSAMS Pty Limited 100%
- Kashflow Software Limited 100%
- Kinetic Marketing & Design Limited 100%
- MCN Associates Limited 100%
- Net-Worx (2001) Limited 100%
- Paycheck Plus Payroll Service Ireland Limited 100%
- Paycheck Plus UK Limited 100%
- Payplus Limited 100%
- Perennial Newco 2 Limited 100%
- Phroot Limited 100%
- Practice Engine Systems Inc. 100%
- PSI Payroll Services 100%
- PTP Software Limited 100%
- Receipt BK U.S. Inc 100%
- Sandgate BG Limited 100%
- Sandgate Systems Limited 100%
- School Spider Limited 100%
- Senta SaaS Limited 100%
- Staffology Limited 100%
- IRIS Firm Management Limited 100%
- Sweep Limited 100%
- Swipeclock LLC 100%
- Taxfiler Limited 100%
- The Practice Engine Group Limited 100%
- Troncmasters Limited 100%
- Truancy Call Limited 100%
Significant events
- “In May 2025, IRIS announced it had made a strategic minority investment of $5.0 million in Instead, an AI-powered tax platform helping accountants automate tax preparation and shift their focus from compliance to strategic advisory. By streamlining routine tasks and providing the tools to deliver deeper insights, Instead frees up time for firms to offer higher-value services. This significant minority investment marks a major step in our commitment to transforming the business of accountancy through intelligent automation, while also enabling Instead to accelerate product development and expand its sales and marketing capabilities.”
- “In June 2025, the Group listed its PIK debt on The International Stock Exchange ("TISE").”
- “In July 2025, the Group disposed of its minority investment in US based business HubSync for $2.0 million.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MOURANT SECRETARIES (JERSEY) LIMITED | Corporate Secretary | 2024-07-10 | — | — |
| CARR, James Edward | Director | 2025-05-02 | Jun 1968 | American |
| CORTAS, Usama Nadim | Director | 2024-07-10 | Mar 1978 | American |
| DIES, Jason Clay | Director | 2025-07-14 | Sep 1969 | American |
| JEFFERIES, Joseph Michael | Director | 2024-07-10 | Sep 1988 | British |
| JURASEK, Christopher | Director | 2024-04-30 | Nov 1965 | American |
| KNUDSEN, Jens Ulrik | Director | 2026-01-01 | Nov 1984 | Danish |
| MALEZIS, Anastasios | Director | 2024-04-30 | Mar 1963 | Canadian |
| PAN, Richard Lijie | Director | 2025-09-11 | Feb 1995 | British |
| SIMON, Daniel John | Director | 2024-07-10 | Mar 1988 | British |
| YIN, Tommy Yb | Director | 2024-07-10 | Feb 1990 | American |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COX, Michael David | Director | 2024-07-10 | 2026-01-15 |
| HUMPHRIES, Nicholas James | Director | 2024-07-10 | 2025-09-30 |
| LOCKIE, David James | Director | 2024-07-10 | 2025-05-31 |
| MORTIMER-ZHIKA, Elona | Director | 2024-07-10 | 2024-12-20 |
| PACKFORD, David John | Director | 2024-04-30 | 2025-10-31 |
Ownership
Persons with significant control
Filing timeline
Last 19 of 19 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-06 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2026-02-04 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2026-01-29 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2025-12-29 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2025-12-29 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2025-12-23 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2025-12-23 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2025-12-23 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2025-11-21 | AA | accounts | Accounts with accounts type full | |
| 2025-10-15 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2025-10-15 | OSAP01 | officers | Appoint person director overseas company with name appointment date | |
| 2025-09-05 | OSCH01 | other | Change company details by uk establishment overseas company with change details | |
| 2025-06-12 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2025-04-28 | OSTM01 | officers | Termination person director overseas company with name termination date | |
| 2025-02-17 | OSCH01 | other | Change company details by uk establishment overseas company with change details | |
| 2024-09-19 | AA01 | accounts | Change account reference date company current extended | |
| 2024-07-10 | OS-PAR | annual-return | Appointment at registration of person authorised to represent | |
| 2024-07-10 | OS-PAR | annual-return | Appointment at registration of person authorised to accept service | |
| 2024-07-10 | OSIN01 | incorporation | Register overseas company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 13
- Capital events
- 0
- Officers appointed
- 4
- Officers resigned
- 4
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
Latest filed period vs the prior one