Waterline Limited
Registered name: WATERLINE LIMITED
Part of Crown Products (Kent) Limited groupWaterline Limited made £44.3m revenue and a £2.1m loss in the year to 31 Mar 2024.
Waterline Limited’s revenue fell 22% to £44.3m in the year to 31 Mar 2024, with a loss of £2.1m and 154 employees. The company is classified under “wholesale of radio, television goods & electrical household appliances (other than records, tapes, cd's & video tapes and the equipment used for playing them)” and is based in London; we hold 3 years of its filed accounts.
- Status
- In Administration
- Location
- London, London
- Age
- 79 yrs · since 1947
- Type
- Private Limited Company
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £63.2m | £56.5m | £44.3m |
| Cost of sales | £50.2m | £44.7m | £36m |
| Gross profit | £13m | £11.8m | £8.3m |
| Operating profit | £1.4m | £389k | −£2.2m |
| Profit before tax | £1.4m | £405k | −£2.1m |
| Profit after tax | £1.1m | £394k | −£2.1m |
| Profit (best available) | £1.1m | £394k | −£2.1m |
| Staff costs | £5.9m | £5.9m | £6m |
| Employees (average) | 163 | 162 | 154 |
| Ratios | |||
| Profit margin | 1.8% | 0.7% | −4.7% |
| Gross margin | 20.5% | 20.9% | 18.8% |
| Revenue per employee | £388k | £349k | £288k |
| Profit per employee | £6.9k | £2.4k | −£13.6k |
| Growth (year on year) | |||
| Revenue growth | — | ▼10.6% | ▼21.6% |
| Profit growth | — | ▼64.8% | ▼629.6% |
| Headcount growth | — | ▼0.6% | ▼4.9% |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £4.2m | £3.6m | £2.3m |
| Net assets | £6.9m | £7.3m | £5.2m |
| Current assets | £13.7m | £12.8m | £9.8m |
| Debtors | £2.3m | £1.9m | £1.9m |
| Deferred income | £205k | £204k | £450k |
| Source | Accounts · bulk data Mar 2024 | Accounts · bulk data Mar 2024 | FullAccounts · bulk data Mar 2025 |
How the business works
- Profit margin
- −4.7%
- Profit ÷ revenue.
- Gross margin
- 18.8%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £288k
- Revenue ÷ average employees.
- Profit per employee
- −£13.6k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 1%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 4.3%
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- ▼29%
- Now £5.2m
- Cash at bank
- ▼35%
- Now £2.3m
- Headcount
- ▼5%
- Now 154
- Deferred income
- ▲121%
- Now £450k
- Fixed assets
- —
- Now —
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- Crown Products (Kent) Limitedultimate parent75–100%
- Waterline Group PLC75–100%
- Waterline Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (1)
- Coolectric LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Similar profitable businesses
- Sennheiser UK LimitedMarlow · Wholesale of radio, television goods & electrical household appliances (other than records, tapes, CD's & video tapes and the equipment used for playing them)
- Revenue
- £38.6m
- Profit
- £438k
- Staff
- 58
- HTC Group LimitedRuncorn · Wholesale of radio, television goods & electrical household appliances (other than records, tapes, CD's & video tapes and the equipment used for playing them)
- Revenue
- £34.8m
- Profit
- £1m
- Staff
- 59
- BRG Appliances LimitedLondon · Wholesale of radio, television goods & electrical household appliances (other than records, tapes, CD's & video tapes and the equipment used for playing them)
- Revenue
- £57.3m
- Profit
- £650k
- Staff
- 44
- Sabichi Homewares LimitedPerivale · Wholesale of radio, television goods & electrical household appliances (other than records, tapes, CD's & video tapes and the equipment used for playing them)
- Revenue
- £32.7m
- Profit
- £1.1m
- Staff
- 60
- Crossfold Electrical Wholesalers LimitedLoughton · Wholesale of radio, television goods & electrical household appliances (other than records, tapes, CD's & video tapes and the equipment used for playing them)
- Revenue
- £32.6m
- Profit
- £3.6m
- Staff
- 43
- Phase Electrical Distributors LimitedEast Sussex · Wholesale of radio, television goods & electrical household appliances (other than records, tapes, CD's & video tapes and the equipment used for playing them)
- Revenue
- £31.6m
- Profit
- £546k
- Staff
- 96
Sources
Latest figures from FullAccounts for the year to 31 Mar 2024 (profit −£2.1m), from the Companies House accounts bulk data published Mar 2025. Spotted an error? Request a correction.
Updated from Companies House on 11 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.