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Company No. 02035889 · Incorporated 10 Jul 1986

Heritage Envelopes Limited

Registered name: HERITAGE ENVELOPES LIMITED

Part of Pencaster Limited group

Heritage Envelopes Limited made £19.7m revenue and a £802k loss in the year to 31 Dec 2024.

Heritage Envelopes Limited’s revenue fell 15% to £19.7m in the year to 31 Dec 2024, with a loss of £802k and 108 employees. The company is classified under “manufacture of paper stationery” and is based in Washington; we hold 3 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 17230Manufacture of paper stationery
Status
Active
Location
Washington, North East
Age
40 yrs · since 1986
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.

Latest accounts · year to 31 Dec 2024

Key figures

Revenue
£19.7m
Growth ▼14.7%
Profit
−£802k
Growth —
Profit margin
−4.1%
Gross 11%
Employees
108
Change ▼6.1%
Profit / employee
−£7.4k
Revenue/employee £182k
Profitable streak
0yrs
Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to31 Dec 202231 Dec 202331 Dec 2024
DisclosureFull P&LFull P&LFull P&L
Profit & loss
Revenue (turnover)£22.7m£23.1m£19.7m
Cost of sales£20.9m£20.9m£17.5m
Gross profit£1.8m£2.2m£2.2m
Operating profit−£832k−£436k−£194k
Profit before tax−£991k−£832k−£599k
Profit after tax−£991k−£1m−£802k
Profit (best available)−£991k−£1m−£802k
Staff costs£4.1m£4.1m£3.7m
Employees (average)116115108
Ratios
Profit margin−4.4%−4.5%−4.1%
Gross margin7.9%9.5%11%
Revenue per employee£196k£201k£182k
Profit per employee−£8.5k−£9k−£7.4k
Growth (year on year)
Revenue growth—▲1.6%▼14.7%
Headcount growth—▼0.9%▼6.1%
Balance sheet — indirect signals, not revenue
Cash at bank£327k£144k£495k
Net assets£6.9m£5.8m£5m
Fixed assets£5.7m£7.4m£7m
Current assets—£9.1m£6.1m
Debtors£5.3m£4.5m£3.1m
Deferred income£1.1m£811k£843k
SourceFullAccounts · bulk data Sep 2024FullAccounts · bulk data Sep 2024FullAccounts · bulk data Sep 2025
Derived from the latest filing

How the business works

Profit margin
−4.1%
Profit ÷ revenue.
Gross margin
11%
Gross profit ÷ revenue. High for software and services.
Revenue per employee
£182k
Revenue ÷ average employees.
Profit per employee
−£7.4k
Profit ÷ average employees.
Cash conversion
—
Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue
35.5%
Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue
4.3%
Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue
15.7%
Money owed by customers. Low = customers pay quickly.
Indirect — not revenue

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
▼14%
Now £5m
Cash at bank
▲245%
Now £495k
Headcount
▼6%
Now 108
Deferred income
▲4%
Now £843k
Fixed assets
▼5%
Now £7m

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

  1. Pencaster Limitedultimate parent75–100%
  2. The Encore Group (Envelopes and Packaging) Limited75–100%
  3. Heritage Envelopes Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (10)

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2024 (profit −£802k), from the Companies House accounts bulk data published Sep 2025. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.