T. H. White Limited
Registered name: T. H. WHITE LIMITED
Part of T. H. White Holdings Limited groupT. H. White Limited made £139m revenue and £526k profit in the year to 31 Dec 2025.
T. H. White Limited’s revenue fell 3% to £139m in the year to 31 Dec 2025, with £526k profit and 526 employees. The company is classified under “repair and maintenance of other transport equipment” and is based in Wiltshire; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Wiltshire, South West
- Age
- 73 yrs · since 1953
- 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. From the filing: “T. H. White Holdings Limited”
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £142m | £148m | £144m | £139m |
| Cost of sales | £116m | £120m | £116m | £111m |
| Gross profit | £26.1m | £27.8m | £27.4m | £27.9m |
| Operating profit | £2.2m | £1.5m | £857k | £1.3m |
| Profit before tax | £2.2m | £810k | −£82.3k | £859k |
| Profit after tax | £1.7m | £540k | −£109k | £526k |
| Profit (best available) | £1.7m | £540k | −£109k | £526k |
| Staff costs | £22.9m | £24.5m | £25.2m | £26.2m |
| Employees (average) | 490 | 519 | 531 | 526 |
| Ratios | ||||
| Profit margin | 1.2% | 0.4% | −0.1% | 0.4% |
| Gross margin | 18.3% | 18.8% | 19.1% | 20% |
| Revenue per employee | £291k | £285k | £271k | £265k |
| Profit per employee | £3.5k | £1k | −£205 | £1k |
| Growth (year on year) | ||||
| Revenue growth | — | ▲3.8% | ▼2.6% | ▼3.2% |
| Profit growth | — | ▼68.1% | ▼120.2% | — |
| Headcount growth | — | ▲5.9% | ▲2.3% | ▼0.9% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £724k | £353k | £434k | £188k |
| Net assets | £17m | £16.3m | £16.2m | £16.7m |
| Fixed assets | £4m | £4.4m | £3.7m | £4.6m |
| Current assets | £59.5m | £69.1m | £56.8m | £57.1m |
| Debtors | £18.5m | £16.7m | £16.2m | £15.8m |
| Deferred income | £10.6m | £9m | £6.1m | £8m |
| Source | Accounts · bulk data Sep 2024 | Accounts · bulk data Sep 2024 | FullAccounts · bulk data Jun 2026 | FullAccounts · bulk data Jun 2026 |
How the business works
- Profit margin
- 0.4%
- Profit ÷ revenue.
- Gross margin
- 20%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £265k
- Revenue ÷ average employees.
- Profit per employee
- £1k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 3.3%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 5.7%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 11.3%
- 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
- ▲3%
- Now £16.7m
- Cash at bank
- ▼57%
- Now £188k
- Headcount
- ▼1%
- Now 526
- Deferred income
- ▲32%
- Now £8m
- Fixed assets
- ▲24%
- Now £4.6m
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
- T. H. White Holdings Limitedultimate parent75–100%
- T. H. White Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (2)
- T.H. White, Installation, LimitedRev. £12.5m · Profit £328k
- T H White Machinery Imports LimitedRev. £5.2m · Profit −£80.9k
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 31 Dec 2025 (profit £526k), from the Companies House accounts bulk data published Jun 2026. Spotted an error? Request a correction.
Updated from Companies House on 16 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.