How much does Offer Waterman Fine Art Limited make?

Offer Waterman Fine Art Limited reported revenue of £15.2m and £645k profit in the year to 31 May 2025, according to its accounts filed at Companies House.

How many employees does Offer Waterman Fine Art Limited have?

Offer Waterman Fine Art Limited reported an average of 11 employees in the year to 31 May 2025.

Is Offer Waterman Fine Art Limited profitable?

Yes — Offer Waterman Fine Art Limited reported a profit of £645k in the year to 31 May 2025.

Company No. 03203503 · Incorporated 24 May 1996

Offer Waterman Fine Art Limited

Registered name: OFFER WATERMAN FINE ART LIMITED

Offer Waterman Fine Art Limited made £15.2m revenue and £645k profit in the year to 31 May 2025.

Offer Waterman Fine Art Limited’s revenue grew 3% to £15.2m in the year to 31 May 2025, with £645k profit and 11 employees. The company is classified under “retail sale in commercial art galleries” and is based in London; we hold 4 years of its filed accounts.

Full P&L filedSection G · Wholesale and retail trade; repair of motor vehiclesSIC 47781Retail sale in commercial art galleries

Status: Active
Location: London, London
Age: 30 yrs · since 1996
Type: Private Limited Company

Latest accounts · year to 31 May 2025

Key figures

IndependentCapital-lightOperating leverageCash flow filed

Revenue

£15.2m

Growth ▲3.2%

Profit

£645k

Growth ▲15.1%

Profit margin

4.3%

Gross 25.8%

Employees

Change 0%

Profit / employee

£58.6k

Revenue/employee £1.4m

Profitable streak

4yrs

Consecutive profitable years in our data

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

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 May 2022	31 May 2023	31 May 2024	31 May 2025
Disclosure	Full P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£25.3m	£53.8m	£14.7m	£15.2m
Cost of sales	£20.9m	£46.3m	£10.4m	£11.3m
Gross profit	£4.4m	£7.5m	£4.3m	£3.9m
Operating profit	£1.9m	£4.7m	£1.2m	£1.2m
Profit before tax	£1.8m	£4.6m	£557k	£775k
Profit after tax	£1.2m	£3.6m	£560k	£645k
Profit (best available)	£1.2m	£3.6m	£560k	£645k
Staff costs	£784k	£1.2m	£576k	£779k
Employees (average)	10	10	11	11
Ratios
Profit margin	4.9%	6.8%	3.8%	4.3%
Gross margin	17.3%	13.9%	29.4%	25.8%
Revenue per employee	£2.5m	£5.4m	£1.3m	£1.4m
Profit per employee	£124k	£365k	£50.9k	£58.6k
Cash conversion	−29.1%	8.7%	9.4%	93.9%
Growth (year on year)
Revenue growth	—	▲112.8%	▼72.7%	▲3.2%
Profit growth	—	▲194.1%	▼84.6%	▲15.1%
Headcount growth	—	0%	▲10%	0%
Balance sheet — indirect signals, not revenue
Cash at bank	£0	£1.9m	£173k	£37.8k
Net assets	£9m	£10.1m	£10.7m	£10.9m
Fixed assets	£426k	£306k	£221k	£118k
Current assets	£21m	£26.6m	£23.3m	£20.2m
Debtors	£387k	£1.5m	£1.1m	£2m
Deferred income	£609k	£981k	£1.2m	£106k
Cash from operations	−£540k	£414k	£117k	£1.1m
Source	FullAccounts · bulk data Mar 2024	FullAccounts · bulk data Mar 2024	FullAccounts · bulk data Feb 2025	FullAccounts · bulk data Mar 2026

Derived from the latest filing

How the business works

Profit margin: 4.3%; Profit ÷ revenue.
Gross margin: 25.8%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £1.4m; Revenue ÷ average employees.
Profit per employee: £58.6k; Profit ÷ average employees.
Cash conversion: 93.9%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.8%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 0.7%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 13.5%; 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: ▲2%; Now £10.9m
Cash at bank: ▼78%; Now £37.8k
Headcount: 0%; Now 11
Deferred income: ▼91%; Now £106k
Fixed assets: ▼47%; Now £118k

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

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 May 2025 (profit £645k), from the Companies House accounts bulk data published Mar 2026. Spotted an error? Request a correction.

Updated from Companies House on 24 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.