How much does First Water Limited make?

First Water Limited reported revenue of £0 and a loss of £11.1m in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does First Water Limited have?

First Water Limited reported an average of 0 employees in the year to 31 Dec 2025.

Is First Water Limited profitable?

No — First Water Limited reported a loss of £11.1m in the year to 31 Dec 2025.

Company No. 04421197 · Incorporated 19 Apr 2002

First Water Limited

Registered name: FIRST WATER LIMITED

Part of Ams Holdco 1 Ltd group

First Water Limited made £0 revenue and a £11.1m loss in the year to 31 Dec 2025.

First Water Limited’s revenue fell 100% to £0 in the year to 31 Dec 2025, with a loss of £11.1m and 0 employees. The company is classified under “other manufacturing” and is based in Ashton-Under-Lyne; we hold 4 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 32990Other manufacturing n.e.c.

Status: Active
Location: Ashton-Under-Lyne, North West
Age: 24 yrs · since 2002
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 2025

Key figures

Small team

Revenue

£0

Growth ▼100%

Profit

−£11.1m

Growth ▼148.9%

Profit margin

—

Employees

Change —

Profit / employee

—

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.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2022	31 Dec 2023	31 Dec 2024	31 Dec 2025
Disclosure	Profit only	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	—	£0	£83k	£0
Gross profit	—	£0	£83k	£0
Operating profit	−£5.9m	−£55k	£27.4m	−£26.2m
Profit before tax	−£7.2m	−£883k	£21.3m	−£11.9m
Profit after tax	−£6.7m	−£1.3m	£22.6m	−£11.1m
Profit (best available)	−£6.7m	−£1.3m	£22.6m	−£11.1m
Employees (average)	0	0	0	0
Ratios
Profit margin	—	—	27270%	—
Gross margin	—	—	100%	—
Growth (year on year)
Revenue growth	—	—	—	▼100%
Profit growth	—	—	—	▼148.9%
Balance sheet — indirect signals, not revenue
Cash at bank	£766k	£179k	£0	—
Net assets	−£30.5m	−£31.8m	−£91k	−£10.4m
Fixed assets	£59.2m	£59.1m	£83m	£56.3m
Current assets	£4.6m	£4.3m	£2.7m	—
Debtors	£3.9m	£4.1m	£2.7m	£2.9m
Deferred income	£20k	£23k	£7k	£0
Source	Accounts · bulk data Sep 2024	Accounts · bulk data Sep 2024	FullAccounts · bulk data Sep 2025	FullAccounts · bulk data Sep 2026

Derived from the latest filing

How the business works

Profit margin: —; Profit ÷ revenue.
Gross margin: —; Gross profit ÷ revenue. High for software and services.
Revenue per employee: —; Revenue ÷ average employees.
Profit per employee: —; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: —; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: —; 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: —; Now −£10.4m
Cash at bank: —; Now —
Headcount: —; Now 0
Deferred income: ▼100%; Now £0
Fixed assets: ▼32%; Now £56.3m

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

Ams Holdco 1 Ltdultimate parent75–100%
Ams Holdco 2 Ltd75–100%
Scapa Group Limited75–100%
First Water Limitedthis company

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

Subsidiaries (4)

Systagenix Wound Management Manufacturing, LimitedRev. £41.2m · Profit −£1.1m
Crawford Manufacturing LimitedRev. — · Profit −£35.9k
Scapa Denver (North) LimitedFigures not disclosed
Scapa Healthcare LimitedFigures not disclosed

Sister companies (1)

Scapa Blackburn LimitedFigures not disclosed

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 2025 (profit −£11.1m), from the Companies House accounts bulk data published Sep 2026. Spotted an error? Request a correction.

Updated from Companies House on 13 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.