Fsi Limited
Registered name: FSI LIMITED
Part of Etex Building Performance Limited groupFsi Limited made £39.2m revenue and £1.9m profit in the year to 31 Dec 2024. read from filing text
Fsi Limited’s revenue grew 4% to £39.2m in the year to 31 Dec 2024, with £1.9m profit and 149 employees. The company is classified under “other manufacturing” and is based in Measham; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Measham, East Midlands
- Age
- 26 yrs · since 2000
- 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.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2021 | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2024 |
|---|---|---|---|---|
| Disclosure | Full P&Lread from filing text | Full P&Lread from filing text | Full P&Lread from filing text | Full P&Lread from filing text |
| Profit & loss | ||||
| Revenue (turnover) | £31.6m | £35.9m | £37.7m | £39.2m |
| Cost of sales | £23.3m | £26.7m | £28.1m | £26.1m |
| Gross profit | £8.3m | £9.2m | £9.7m | £13.1m |
| Operating profit | £2.6m | £1.8m | £1.5m | £2.9m |
| Profit before tax | £2.6m | £1.8m | £1.5m | £3m |
| Profit after tax | £2m | £1.5m | £1.2m | £1.9m |
| Profit (best available) | £2m | £1.5m | £1.2m | £1.9m |
| Staff costs | — | — | — | £7.3m |
| Employees (average) | 119 | 143 | 142 | 149 |
| Ratios | ||||
| Profit margin | 6.5% | 4.1% | 3.1% | 4.9% |
| Gross margin | 26.2% | 25.7% | 25.6% | 33.4% |
| Revenue per employee | £265k | £251k | £266k | £263k |
| Profit per employee | £17.1k | £10.4k | £8.3k | £13k |
| Cash conversion | −22.3% | — | — | — |
| Growth (year on year) | ||||
| Revenue growth | — | ▲13.8% | ▲5.1% | ▲3.8% |
| Profit growth | — | ▼27.1% | ▼20.4% | ▲63.4% |
| Headcount growth | — | ▲20.2% | ▼0.7% | ▲4.9% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £0 | £3.6k | £13.6k | £1.5k |
| Net assets | £4.1m | £5.6m | £6.8m | £8.7m |
| Fixed assets | £2.1m | £2.2m | £2.3m | £2.3m |
| Current assets | £10.4m | £9.4m | £11m | £19.9m |
| Debtors | £6.6m | £4.9m | £5.7m | £6.1m |
| Deferred income | £98k | £84.5k | £71k | £57.5k |
| Cash from operations | −£585k | — | — | — |
| Source | FullAccounts · bulk data May 2024 | FullAccounts · bulk data May 2024 | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Dec 2025 |
How the business works
- Profit margin
- 4.9%
- Profit ÷ revenue.
- Gross margin
- 33.4%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £263k
- Revenue ÷ average employees.
- Profit per employee
- £13k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 5.8%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 0.1%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 15.7%
- 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
- ▲29%
- Now £8.7m
- Cash at bank
- ▼89%
- Now £1.5k
- Headcount
- ▲5%
- Now 149
- Deferred income
- ▼19%
- Now £57.5k
- Fixed assets
- ▼2%
- Now £2.3m
Group structure
Ownership chain
- Etex Building Performance Limitedultimate parent75–100%
- Fsi Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Firesafe & Sound LimitedFigures not disclosed
Sister companies (1)
- Crucible Gypsum Recycling 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 Dec 2024 (profit £1.9m), from the Companies House accounts bulk data published Dec 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.