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Salt Topco Limited

Private Limited Company · Rochdale

ActiveUnited KingdomIncorporated 2020Private Limited Company
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Financial position

Accounts to 2025-12-31 · USD · Group accounts

Net assets
USD 12,086,083
Cash
USD 5,848,304
Turnover
USD 87,851,889
Profit / loss
−USD 14,810,525
Current assets
USD 39,652,204
Creditors < 1 year
USD 34,569,390
Equity
USD 12,086,083
Average employees
232

Balance-sheet trend

USD · consolidated

Financial statements

Selected figures from the best-ranked available filing for each period. Missing values remain unknown.

2 periods

Some figures were read by AI from scanned accounts, so small errors are possible. View the filed accounts

Reported figures2025-12-3112 months · Group · AI-read2024-12-31Group · AI-read
Balance sheet
Net assetsUSD 12,086,083USD 22,311,867
EquityUSD 12,086,083USD 22,311,867
Share capitalUSD 33,104,668USD 33,104,670
Retained earnings−USD 85,064,034−USD 69,907,764
Assets
Fixed assetsUSD 103,100,743USD 102,516,378
Intangible assetsUSD 102,498,538USD 102,388,835
Property, plant & equipmentUSD 602,205USD 127,543
Current assetsUSD 39,652,204USD 31,836,456
Cash at bankUSD 5,848,304USD 4,345,015
DebtorsUSD 33,803,900USD 27,491,441
Liabilities
Creditors within one yearUSD 34,569,390USD 29,072,870
Creditors after one yearUSD 87,917,849USD 72,756,876
ProvisionsUSD 8,179,625USD 10,211,221
Net current assetsUSD 5,082,814USD 2,763,586
Assets less current liabilitiesUSD 108,183,557USD 105,279,964
Profit & loss
TurnoverUSD 87,851,889USD 43,167,338
Cost of salesUSD 41,941,827USD 5,936,636
Gross profitUSD 45,910,062USD 37,230,702
Administrative expensesUSD 50,864,237USD 40,194,772
Operating profit−USD 4,954,175−USD 2,964,070
Interest payableUSD 9,071,269USD 9,211,389
Profit before tax−USD 14,025,444−USD 12,175,459
Tax−USD 785,081−USD 442,341
Profit / loss−USD 14,810,525−USD 12,617,800
Operating costs
DepreciationUSD 147,905USD 66,779
AmortisationUSD 21,870,574USD 19,521,255
Operating lease chargesUSD 1,439,176USD 915,359
Audit feesUSD 106,885USD 93,652
People & pay
Average employees232184
Staff costsUSD 17,065,171USD 11,743,491
Wages & salariesUSD 14,712,502USD 10,427,469
Social security costsUSD 1,128,064USD 709,648
Pension costsUSD 1,093,542USD 288,944
Directors' remunerationUSD 817,659USD 846,973
Highest paid directorUSD 259,897USD 289,740
Source evidenceView filing View filing

From the accounts

What the accounts for 2025-12-31 say about themselves, read by AI from the scanned filing.

Principal activity
The principal activity of the Group is the franchising of courier services. In 2024, the Group also began directly selling courier services to end customers through its newly launched Super Franchise initiative. The principal activity of the Company remains that of a holding company
What it does
franchising · courier services · Super Franchise · direct sales (AI keywords)
The year
In 2025, turnover increased by 51% year-over-year, primarily driven by the Super Franchise initiative. As a result of this initiative, the Group began recognizing both revenue and cost of sales for newly acquired franchise units.
Outlook
The InXpress Group continues to strengthen its global market position through a combination of organic growth, strategic initiatives, and ongoing investment in technology and sales capabilities
Audit opinion
Clean (unmodified)
Immediate parent
Salt Midco Limited
Ultimate parent
Salt Topco Limited
Accounts
FRS 102
Approved
2026-04-30, signed by A Thompson
Turnover by segment (16)
  • Europe: 25,385,066 (2025-12-31)
  • Europe: 15,463,677 (2024-12-31)
  • North America: 48,187,811 (2025-12-31)
  • North America: 19,033,070 (2024-12-31)
  • India and Africa: 2,750,231 (2025-12-31)
  • India and Africa: 1,593,790 (2024-12-31)
  • Asia Pacific: 11,528,781 (2025-12-31)
  • Asia Pacific: 7,076,801 (2024-12-31)
  • Franchise administration: 1,304,495 (2025-12-31)
  • Franchise administration: 1,649,458 (2024-12-31)
  • Direct Sales: 50,782,755 (2025-12-31)
  • Direct Sales: 4,395,232 (2024-12-31)
  • Turnover from franchisor services: 31,961,239 (2025-12-31)
  • Turnover from franchisor services: 32,981,536 (2024-12-31)
  • Software recharges: 3,803,400 (2025-12-31)
  • Software recharges: 4,141,112 (2024-12-31)
Directors' report (5)
  • A Goldberg
  • D G Hansen
  • E J Rosen
  • M A Taylor
  • A Thompson
Principal risks (6)
  • evolving regulatory requirements
  • macroeconomic factors
  • inflation
  • foreign exchange volatility
  • liquidity risk
  • credit risk
Events after the year end (1)
  • Subsequent to the reporting date, the Group continued its expansion through the acquisition of franchise entities in the United Kingdom and entered into a letter of intent to acquire the Netherlands Master Franchise. In addition, controlling party Hudson Hill Capital completed a continuation vehicle transaction, and the Group increased its delayed draw term loan facility by $45m to support future growth.

Secured borrowing

Registered charges, lenders and security interests.

Charges and related records

0 outstanding charges

No charges available in our records.