How much does Hlmad Limited make?

Hlmad Limited reported revenue of £19.6m and £934k profit in the year to 31 Mar 2025, according to its accounts filed at Companies House.

How many employees does Hlmad Limited have?

Hlmad Limited reported an average of 215 employees in the year to 31 Mar 2025.

Is Hlmad Limited profitable?

Yes — Hlmad Limited reported a profit of £934k in the year to 31 Mar 2025.

Company No. 05047778 · Incorporated 18 Feb 2004

Hlmad Limited

Registered name: HLMAD LIMITED

Part of Hlm+ld Employee Trustee Limited group

Hlmad Limited made £19.6m revenue and £934k profit in the year to 31 Mar 2025.

Hlmad Limited’s revenue grew 15% to £19.6m in the year to 31 Mar 2025, with £934k profit and 215 employees. The company is classified under “architectural activities” and is based in London; we hold 4 years of its filed accounts.

Full P&L filedSection M · Professional, scientific and technical activitiesSIC 71111Architectural activities

Status: Active
Location: London, London
Age: 22 yrs · since 2004
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 2025

Key figures

Capital-lightOperating leverage

Revenue

£19.6m

Growth ▲14.8%

Profit

£934k

Growth ▲88.1%

Profit margin

4.8%

Gross 35.9%

Employees

215

Change ▲4.9%

Profit / employee

£4.3k

Revenue/employee £91.4k

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 Mar 2022	31 Mar 2023	31 Mar 2024	31 Mar 2025
Disclosure	Full P&Lread from filing text	Full P&Lread from filing text	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£15.4m	£19.3m	£17.1m	£19.6m
Cost of sales	£9.2m	£11.8m	£10.8m	£12.6m
Gross profit	£6.2m	£7.4m	£6.3m	£7.1m
Operating profit	—	—	£493k	£973k
Profit before tax	£1.5m	£1.2m	£566k	£1m
Profit after tax	£1.5m	£1.1m	£496k	£934k
Profit (best available)	£1.5m	£1.1m	£496k	£934k
Staff costs	£7.6m	£9.7m	£9.3m	£10m
Employees (average)	179	218	205	215
Ratios
Profit margin	9.7%	5.6%	2.9%	4.8%
Gross margin	40.5%	38.6%	37%	35.9%
Revenue per employee	£86.1k	£88.4k	£83.5k	£91.4k
Profit per employee	£8.3k	£4.9k	£2.4k	£4.3k
Cash conversion	—	—	−121.3%	—
Growth (year on year)
Revenue growth	—	▲24.9%	▼11.2%	▲14.8%
Profit growth	—	▼27.6%	▼54%	▲88.1%
Headcount growth	—	▲21.8%	▼6%	▲4.9%
Balance sheet — indirect signals, not revenue
Cash at bank	£805k	£579k	£662k	£895k
Net assets	£2m	£1.4m	£1.6m	£2.1m
Fixed assets	£342k	£468k	£503k	£591k
Current assets	£6.1m	£5.8m	£6.5m	£7.3m
Debtors	£4.1m	£3.8m	£3.8m	£4.2m
Deferred income	£1.2m	£1.2m	£1.1m	£2.1m
Cash from operations	—	−£1.8m	−£598k	—
Source	FullAccounts · bulk data Dec 2023	FullAccounts · bulk data Dec 2023	FullAccounts · bulk data Dec 2024	FullAccounts · bulk data Dec 2025

Derived from the latest filing

How the business works

Profit margin: 4.8%; Profit ÷ revenue.
Gross margin: 35.9%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £91.4k; Revenue ÷ average employees.
Profit per employee: £4.3k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 3%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 10.5%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 21.2%; 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: ▲25%; Now £2.1m
Cash at bank: ▲35%; Now £895k
Headcount: ▲5%; Now 215
Deferred income: ▲90%; Now £2.1m
Fixed assets: ▲18%; Now £591k

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

Hlm+ld Employee Trustee Limitedultimate parent75–100%
Covalent Group Limited75–100%
Hlmad Limitedthis company

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

Subsidiaries (1)

HLM Architects LimitedFigures not disclosed

Sister companies (2)

Llewelyn Davies Weeks LimitedFigures not disclosed
Sidell Gibson 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 Mar 2025 (profit £934k), 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.