Lion Topco Limited
Activities of other holding companies n.e.c. · London
ActiveUnited KingdomIncorporated 2021Private Limited Company
Financial position
Accounts to 2025-12-31 · GBP · Group accounts
Net assets
−£181,304,000
Cash
£6,827,000
Turnover
£30,551,000
Profit / loss
−£35,938,000
Current assets
£9,148,000
Creditors < 1 year
£10,928,000
Equity
−£181,304,000
Average employees
226
Balance-sheet trend
GBP · consolidatedFinancial statements
Selected figures from the best-ranked available filing for each period. Missing values remain unknown.
Some figures were read by AI from scanned accounts, so small errors are possible. View the filed accounts
| Reported figures | 2025-12-31Group · AI-read | 2024-12-31Group · AI-read | 2021-12-316 months |
|---|---|---|---|
| Balance sheet | |||
| Net assets | −£181,304,000 | −£143,495,000 | £1,321,058 |
| Equity | −£181,304,000 | −£143,495,000 | £1,321,058 |
| Share capital | £1,062,000 | £1,063,000 | — |
| Retained earnings | −£284,956,000 | −£249,018,000 | — |
| Assets | |||
| Fixed assets | £24,340,000 | £41,695,000 | £881,601 |
| Intangible assets | £24,110,000 | £41,405,000 | — |
| Property, plant & equipment | £230,000 | £290,000 | — |
| Current assets | £9,148,000 | £6,361,000 | £33,157,643 |
| Cash at bank | £6,827,000 | £3,874,000 | — |
| Debtors | £2,321,000 | £2,487,000 | £33,157,643 |
| Liabilities | |||
| Creditors within one year | £10,928,000 | £6,725,000 | £100 |
| Creditors after one year | £203,864,000 | £184,826,000 | £32,718,086 |
| Net current assets | −£1,780,000 | −£364,000 | £33,157,543 |
| Assets less current liabilities | £22,560,000 | £41,331,000 | £34,039,144 |
| Profit & loss | |||
| Turnover | £30,551,000 | £29,902,000 | — |
| Cost of sales | £6,860,000 | £6,752,000 | — |
| Gross profit | £23,691,000 | £23,150,000 | — |
| Administrative expenses | £38,562,000 | £66,449,000 | — |
| Operating profit | −£14,871,000 | −£43,299,000 | — |
| Interest receivable | £30,000 | £16,000 | — |
| Interest payable | £21,087,000 | £19,556,000 | — |
| Profit before tax | −£35,928,000 | −£62,839,000 | — |
| Tax | £10,000 | −£98,000 | — |
| Profit / loss | −£35,938,000 | −£62,741,000 | — |
| Operating costs | |||
| Depreciation | £83,000 | £85,000 | — |
| Amortisation | £14,768,000 | £41,995,000 | — |
| Operating lease charges | £158,000 | £215,000 | — |
| Audit fees | £149,000 | £150,000 | — |
| People & pay | |||
| Average employees | 226 | 247 | 0 |
| Staff costs | £17,696,000 | £18,117,000 | — |
| Wages & salaries | £14,382,000 | £14,921,000 | — |
| Social security costs | £2,872,000 | £2,726,000 | — |
| Pension costs | £442,000 | £470,000 | — |
| Source evidence | View filing | View filing | View filing |
From the accounts
What the accounts for 2025-12-31 say about themselves, read by AI from the scanned filing.
- Auditor
- BDO LLP
- Audit opinion
- Clean (unmodified)
- Ultimate controlling party
- Marlin Ultimate GP (Cayman) LLC
- Accounts
- Full accounts · FRS 102
- Approved
- 2026-06-26, signed by J Musker
Subsidiaries (7)
- Lion Midco Limited · 100% · United Kingdom
- Lion Holdco Limited* · 100% · United Kingdom
- Lion Bidco Limited* · 100% · United Kingdom
- Scotty Ventures Limited* · 100% · United Kingdom
- Linn Systems Ltd* · 100% · United Kingdom
- Linnworks, Inc* · 100% · United States of America
- Linn Systems OU* · 100% · Estonia
Turnover by segment (6)
- Subscription income: 29,360 (000s) (2025-12-31)
- Professional services income: 694 (000s) (2025-12-31)
- Sale of goods: 497 (000s) (2025-12-31)
- Subscription income: 28,963 (000s) (2024-12-31)
- Professional services income: 778 (000s) (2024-12-31)
- Sale of goods: 161 (000s) (2024-12-31)
Related parties (3)
- A Company with common directors and shareholders · Company with common directors and shareholders · Sales income and commission paid · £0.2k and £125k
- A Company with common directors and shareholders · Company with common directors and shareholders · Amounts owed by the Company and owed to the Company · £67k and £21k
- Key management personnel · Directors and senior managers across the group · Total compensation for services provided to the group · £937k
Borrowings (4)
- £25.0m credit facility with Blackrock Diversified Private Debt DAC · £40,948k · 7.5% p.a. (compounded quarterly) · repayable on 31 July 2028 · secured on All facilities are secured over the Group’s assets.
- USD capex facility with Blackrock EMMPD II Investment S.A.R.L. · £22,154k · 7.5% p.a. (compounded quarterly) · repayable on 31 July 2028 · secured on All facilities are secured over the Group’s assets.
- GBP capex facility with Blackrock EMMPD II Investment S.A.R.L. · £5,236k · 7.5% p.a. (compounded quarterly) · repayable on 31 July 2028 · secured on All facilities are secured over the Group’s assets.
- £3.0m revolving credit facility with Barclays Bank PLC · £2,500k · 3.75% p.a. · secured on All facilities are secured over the Group’s assets.
Share classes (10)
- 1,482,517 A Ordinary of £0.01
- 338,357 B Ordinary of £0.01
- 33,875 C Ordinary of £0.01
- 119,586 D Ordinary of £0.01
- 42,641 E Ordinary of £0.01
- 164,210 G Ordinary of £0.01
- 32,718,086 B Preference of £0.01
- 11,053,564 D Preference of £0.01
- 59,490,859 A1 Preference of £0.01
- 780,079 A2 Preference of £0.01
Events after the year end (2)
- In January 2026, the Group concluded negotiations with its lenders to amend its credit agreement, including resetting covenant levels and revising repayment terms.
- On 13 January 2026, Marlin Equity Partners invested an additional £10 million into the Group.
Secured borrowing
Registered charges, lenders and security interests.
Charges and related records
0 outstanding chargesNo charges available in our records.