Monthly performance pack
Arden Group
July 2026
Reviewed & signed · 7 August 2026Revenue
£503,000
▲ 6.2% vs June
Gross margin
70.0%
▲ 1.4 pts vs June
EBITDA
£45,600
▲ 18.4% vs June
Cash
£648,300
▲ £35,900 in month
All three entities, intercompany eliminated. Vertical axis starts at zero.
Twelve months of identically computed numbers. The recipe has not changed since September, so the trend is a trend rather than three different definitions of revenue — which is also what makes July readable. Two enterprise renewals landed in the same week, so £503,000 is a good month rather than the new run rate.
Before intercompany elimination. Open marker June, filled marker July.
- June
- July
Consolidated July, after intercompany elimination.
Payroll is shown separately from the rest of operating cost because it is 70% of it, and because headcount decisions are the ones this board actually makes.
Share of £517,500 before elimination, July.
- Arden Labs · £246,800
- Arden Studio · £182,400
- Arden Trading · £88,300
Trading is 17% of revenue and 10% of gross profit; Labs is 48% and 58%. Weighted by what each entity keeps rather than what it bills, this chart is a different shape — and that is the one the board should be looking at.
Checks — the numbers reconcile
Entity revenues sum to consolidated revenue after elimination
£517,500 − £14,500 = £503,000
The intercompany charge nets to nil across the two ledgers
Labs +£14,500 · Studio −£14,500 = £0
Payroll register total equals the payroll line above
41 employees · £214,600 gross
Trading BV converted at the July average rate, not the closing rate
EUR 102,800 ÷ 1.1642 = £88,300
Sources — 3 files, one join
xero_studio_pl_jul26.csv
Xero profit and loss export — Arden Studio Ltd, account-level detail
Arrived 4 Aug
qbo_labs_2026-07.xlsx
QuickBooks export — Arden Labs Ltd, with a separate deferred revenue tab
Arrived 4 Aug
arden_bv_july_EUR.xlsx
Spreadsheet kept by the Dutch bookkeeper — EUR, one sheet per quarter
Arrived 6 Aug
Joined on entity code and period, with a mapping from each ledger’s own chart of accounts to a single group chart. Computed by recipe v11 — frozen 8 September 2025 — which is why the twelve-month series above is comparable end to end. The BV spreadsheet changed shape in April; the drift was flagged and the mapping extended rather than re-inferred.
Appendix — by entity
| Entity | Revenue | Cost of sales | Gross profit | Margin |
|---|---|---|---|---|
| Arden Studio Ltd | £182,400 | £71,100 | £111,300 | 61.0% |
| Arden Labs Ltd | £246,800 | £41,900 | £204,900 | 83.0% |
| Arden Trading BV | £88,300 | £52,600 | £35,700 | 40.4% |
| Intercompany elimination | £-14,500 | £-14,500 | £0 | — |
| Group | £503,000 | £151,100 | £351,900 | 70.0% |
Arden Group · July 2026 · prepared by Northstar CFO
Built with Databoat
Commentary
Consolidated revenue for July was £503,000, up 6.2% on June and the first month above half a million.1 Labs drove it, adding £18,400 as two enterprise renewals landed in the same week; Studio grew 3.1% and Trading 7.6%.2 The £14,500 intercompany charge from Labs to Studio is eliminated on consolidation and appears in neither figure.
Gross margin improved 1.4 points to 70.0%, almost entirely mix — Labs carries an 83% margin and grew fastest, while Trading at 40.4% grew slower than the group.4 Below the line, payroll of £214,600 remains 42.7% of revenue, and EBITDA of £45,600 is a 9.1% margin against 8.1% in June.3
Cash closed at £648,300, up £35,900 in the month, with no drawdown on the facility. The three ledgers reconcile to the consolidated position and the intercompany entry nets to nil on both sides. Trading BV is converted at the July average rate of 1.1642 rather than at the closing rate, which is stated in the basis note below.✓
Drafted by Databoat from the computed figures, then edited and signed by Northstar CFO. Each citation links the sentence to the figure behind it.