West Midland Merchants Limited
Registered name: WEST MIDLAND MERCHANTS LIMITED
Part of T H Baker Global Incorporated Ltd groupWest Midland Merchants Limited made £14.3m revenue and a £68.6k loss in the year to 31 Mar 2025. read from filing text
West Midland Merchants Limited’s revenue grew 30% to £14.3m in the year to 31 Mar 2025, with a loss of £68.6k and 30 employees. The company is classified under “wholesale of watches and jewellery” and is based in Halesowen; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Halesowen, West Midlands
- Age
- 66 yrs · since 1960
- 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: “The parent company of West Midland Merchants Limited is TH Baker Group Limited and its registered office address is”
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 | 31 Mar 2025 |
|---|---|---|---|---|
| Disclosure | Profit & lossread from filing text | Profit & lossread from filing text | Profit & lossread from filing text | Profit & lossread from filing text |
| Profit & loss | ||||
| Revenue (turnover) | £16.4m | £11m | £11m | £14.3m |
| Cost of sales | £15.4m | £9.7m | £10.1m | £13.4m |
| Gross profit | £944k | £1.3m | £952k | £917k |
| Operating profit | £289k | £49.4k | £21.5k | −£70.2k |
| Profit before tax | £289k | £49.4k | £21.5k | −£68.6k |
| Profit after tax | £234k | £49.4k | £21.5k | −£68.6k |
| Profit (best available) | £234k | £49.4k | £21.5k | −£68.6k |
| Staff costs | £642k | £637k | £667k | £737k |
| Employees (average) | 30 | 29 | 29 | 30 |
| Ratios | ||||
| Profit margin | 1.4% | 0.4% | 0.2% | −0.5% |
| Gross margin | 5.8% | 12% | 8.6% | 6.4% |
| Revenue per employee | £546k | £379k | £381k | £478k |
| Profit per employee | £7.8k | £1.7k | £741 | −£2.3k |
| Growth (year on year) | ||||
| Revenue growth | — | ▼32.9% | ▲0.6% | ▲29.9% |
| Profit growth | — | ▼78.9% | ▼56.5% | ▼418.9% |
| Headcount growth | — | ▼3.3% | 0% | ▲3.5% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £343k | £38.2k | £31.9k | £2.3k |
| Net assets | £1.5m | £1.5m | £1.6m | £1.5m |
| Current assets | £11.5m | £12.1m | £12.8m | £14.4m |
| Debtors | £1.3m | £13k | £8.6k | £6.1k |
| Deferred income | £38.4k | £15.1k | £16.3k | £5.3k |
| Source | FullAccounts · bulk data Mar 2024 | FullAccounts · bulk data Mar 2024 | FullAccounts · bulk data Dec 2024 | FullAccounts · bulk data Feb 2026 |
How the business works
- Profit margin
- −0.5%
- Profit ÷ revenue.
- Gross margin
- 6.4%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £478k
- Revenue ÷ average employees.
- Profit per employee
- −£2.3k
- 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
- 0%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 0%
- 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
- ▼4%
- Now £1.5m
- Cash at bank
- ▼93%
- Now £2.3k
- Headcount
- ▲3%
- Now 30
- Deferred income
- ▼67%
- Now £5.3k
- 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
- T H Baker Global Incorporated Ltdultimate parent75–100%
- West Midland Merchants Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (9)
- T.h.baker & Co.(Established 1888)LimitedRev. £27.9m · Profit £123k
- T H Baker Holdings LimitedRev. £0 · Profit −£309
- Creedpoint LimitedFigures not disclosed
- Hobbies LimitedFigures not disclosed
- Kheper LimitedFigures not disclosed
- T. H. Baker Goldsmiths LimitedFigures not disclosed
- T. H. Baker Group LimitedRev. — · Profit £1.3k
- T. H. Baker LimitedFigures not disclosed
- T.H. Baker (Management Services) LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from FullAccounts for the year to 31 Mar 2025 (profit −£68.6k), from the Companies House accounts bulk data published Feb 2026. Spotted an error? Request a correction.
Updated from Companies House on 25 Oct 2026