How much does Merlin Flex Limited make?

Merlin Flex Limited reported revenue of £11.4m and £3.2m profit in the year to 31 Mar 2026, according to its accounts filed at Companies House.

How many employees does Merlin Flex Limited have?

Merlin Flex Limited reported an average of 75 employees in the year to 31 Mar 2026.

Is Merlin Flex Limited profitable?

Yes — Merlin Flex Limited reported a profit of £3.2m in the year to 31 Mar 2026.

Company No. 03235739 · Incorporated 8 Aug 1996

Merlin Flex Limited

Registered name: MERLIN FLEX LIMITED

Part of Merlin PCB Group Ltd group

Merlin Flex Limited made £11.4m revenue and £3.2m profit in the year to 31 Mar 2026.

Merlin Flex Limited’s revenue grew 42% to £11.4m in the year to 31 Mar 2026, with £3.2m profit and 75 employees. The company is classified under “manufacture of electronic components” and is based in Rayleigh; we hold 5 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 26110Manufacture of electronic components

Status: Active
Location: Rayleigh, East of England
Age: 30 yrs · since 1996
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 Mar 2026

Key figures

Operating leverage

Revenue

£11.4m

Growth ▲41.9%

Profit

£3.2m

Growth ▲230.7%

Profit margin

27.8%

Gross 54.3%

Employees

Change ▲4.2%

Profit / employee

£42.1k

Revenue/employee £152k

Profitable streak

3yrs

Consecutive profitable years in our data

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

5 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Mar 2022	31 Mar 2023	31 Mar 2024	31 Mar 2025	31 Mar 2026
Disclosure	No P&L	No P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	—	—	£6.2m	£8m	£11.4m
Cost of sales	—	—	£3.4m	£4.9m	£5.2m
Gross profit	—	—	£2.8m	£3.1m	£6.2m
Operating profit	—	—	£1m	£1.1m	£3.7m
Profit before tax	—	—	£1m	£1.1m	£3.7m
Profit after tax	—	—	£942k	£955k	£3.2m
Profit (best available)	—	—	£942k	£955k	£3.2m
Staff costs	—	—	—	£2.5m	£3m
Employees (average)	62	54	60	72	75
Ratios
Profit margin	—	—	15.3%	11.9%	27.8%
Gross margin	—	—	45.7%	38.8%	54.3%
Revenue per employee	—	—	£103k	£111k	£152k
Profit per employee	—	—	£15.7k	£13.3k	£42.1k
Growth (year on year)
Revenue growth	—	—	—	▲29.7%	▲41.9%
Profit growth	—	—	—	▲1.3%	▲230.7%
Headcount growth	—	▼12.9%	▲11.1%	▲20%	▲4.2%
Balance sheet — indirect signals, not revenue
Cash at bank	£190k	£330k	£302k	£553k	£610k
Net assets	£3.7m	£4.2m	£5.1m	£5.6m	£6.7m
Fixed assets	£2.3m	£2.2m	£2.4m	£2.9m	£3.3m
Current assets	£2.6m	£3.5m	£4.4m	£4.3m	£5.5m
Debtors	£705k	£639k	£1.2m	£1.2m	£1.5m
Deferred income	£84k	£47.6k	£63.5k	£122k	£63.5k
Source	FullAccounts · bulk data Dec 2023	FullAccounts · bulk data Dec 2023	FullAccounts · bulk data Dec 2024	FullAccounts · bulk data Dec 2025	FullAccounts · bulk data Sep 2026

Derived from the latest filing

How the business works

Profit margin: 27.8%; Profit ÷ revenue.
Gross margin: 54.3%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £152k; Revenue ÷ average employees.
Profit per employee: £42.1k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 28.6%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 0.6%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 13.1%; 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: ▲21%; Now £6.7m
Cash at bank: ▲10%; Now £610k
Headcount: ▲4%; Now 75
Deferred income: ▼48%; Now £63.5k
Fixed assets: ▲12%; Now £3.3m

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

Merlin PCB Group Ltdultimate parent75–100%
Merlin Flex Limitedthis company

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

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

Same industry, similar size

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Mar 2026 (profit £3.2m), from the Companies House accounts bulk data published Sep 2026. 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.