How much does M G Cannon Limited make?

M G Cannon Limited reported revenue of £16.3m and £1.4m profit in the year to 31 Dec 2023, according to its accounts filed at Companies House.

How many employees does M G Cannon Limited have?

M G Cannon Limited reported an average of 148 employees in the year to 31 Dec 2023.

Is M G Cannon Limited profitable?

Yes — M G Cannon Limited reported a profit of £1.4m in the year to 31 Dec 2023.

Company No. 04338673 · Incorporated 12 Dec 2001

M G Cannon Limited

Registered name: M G CANNON LIMITED

Part of Belfry Topco Limited group

M G Cannon Limited made £16.3m revenue and £1.4m profit in the year to 31 Dec 2023. read from filing text

M G Cannon Limited’s revenue grew 17% to £16.3m in the year to 31 Dec 2023, with £1.4m profit and 148 employees. The company is classified under “repair of other equipment” and is based in Worcester; we hold 3 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 33190Repair of other equipment

Status: Active
Location: Worcester, West Midlands
Age: 24 yrs · since 2001
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: “As at 31 December 2023 the ultimate parent company was MGC Investment Holdings Limited. Registered office 13 March Place Gatehouse Way, Aylesbury, Buckinghamshire, HP19 8UG. Copies of the group accoun”

Latest accounts · year to 31 Dec 2023

Key figures

Capital-lightOperating leverageCash flow filed

Revenue

£16.3m

Growth ▲17.2%

Profit

£1.4m

Growth ▲121.4%

Profit margin

8.4%

Gross 40.2%

Employees

148

Change ▲2.1%

Profit / employee

£9.3k

Revenue/employee £110k

Profitable streak

2yrs

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 to	31 Dec 2021	31 Dec 2022	31 Dec 2023
Disclosure	No P&L	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	—	£13.9m	£16.3m
Cost of sales	—	£8.9m	£9.7m
Gross profit	—	£5m	£6.6m
Operating profit	—	£773k	£1.8m
Profit before tax	—	£768k	£1.8m
Profit after tax	—	£621k	£1.4m
Profit (best available)	—	£621k	£1.4m
Staff costs	—	£4.6m	£5.3m
Employees (average)	134	145	148
Ratios
Profit margin	—	4.5%	8.4%
Gross margin	—	36%	40.2%
Revenue per employee	—	£95.9k	£110k
Profit per employee	—	£4.3k	£9.3k
Cash conversion	—	−155.8%	−81.3%
Growth (year on year)
Revenue growth	—	—	▲17.2%
Profit growth	—	—	▲121.4%
Headcount growth	—	▲8.2%	▲2.1%
Balance sheet — indirect signals, not revenue
Cash at bank	£1.7m	£1.7m	£2.2m
Net assets	£1.1m	£1m	£2.2m
Fixed assets	£377k	£325k	£256k
Current assets	£3.1m	£3.1m	£5.1m
Debtors	£1m	£952k	£1.6m
Deferred income	£61.3k	£152k	£200k
Cash from operations	—	−£1.2m	−£1.5m
Source	FullAccounts · bulk data Dec 2023	FullAccounts · bulk data Dec 2023	FullAccounts · bulk data Sep 2024

Derived from the latest filing

How the business works

Profit margin: 8.4%; Profit ÷ revenue.
Gross margin: 40.2%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £110k; Revenue ÷ average employees.
Profit per employee: £9.3k; Profit ÷ average employees.
Cash conversion: −81.3%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 1.6%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 1.2%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 9.8%; 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: ▲119%; Now £2.2m
Cash at bank: ▲31%; Now £2.2m
Headcount: ▲2%; Now 148
Deferred income: ▲31%; Now £200k
Fixed assets: ▼21%; Now £256k

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

Belfry Topco Limitedultimate parent75–100%
Belfry Midco Limited75–100%
Compass Bidco Limited75–100%
Torrent Midco 1 Ltd75–100%
Torrent Midco 2 Ltd75–100%
Torrent Bidco Ltd75–100%
RKS Holdings Ltd75–100%
Steer Automotive Group Limited75–100%
MGC Investment Holdings Limited75–100%
M G Cannon 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).

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2023 (profit £1.4m), from the Companies House accounts bulk data published Sep 2024. 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.