Musgrave Holdings Limited
Registered name: MUSGRAVE HOLDINGS LIMITED
Part of Westley International Holdings Ltd groupMusgrave Holdings Limited made £37.7m revenue and £4.9k profit in the year to 30 Jun 2025.
Musgrave Holdings Limited’s revenue fell 2% to £37.7m in the year to 30 Jun 2025, with £4.9k profit and 308 employees. The company is classified under “activities of head offices” and is based in Cradley Heath; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Cradley Heath, West Midlands
- Age
- 20 yrs · since 2006
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
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: “Liquidus Holdings Limited”
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 30 Jun 2022 | 30 Jun 2023 | 30 Jun 2024 | 30 Jun 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £33.2m | £36.5m | £38.3m | £37.7m |
| Cost of sales | £24.8m | £26.2m | £27.3m | £26.9m |
| Gross profit | £8.3m | £10.3m | £10.9m | £10.8m |
| Operating profit | £1.5m | £2.6m | £2.8m | £2.7m |
| Profit before tax | £1.6m | £2.7m | £2.6m | £2.6m |
| Profit after tax | £255k | £1m | £1.6m | £4.9k |
| Profit (best available) | £255k | £1m | £1.6m | £4.9k |
| Staff costs | £10.5m | £11.7m | £12.9m | £12.8m |
| Employees (average) | 290 | 299 | 308 | 308 |
| Ratios | ||||
| Profit margin | 0.8% | 2.9% | 4.2% | 0% |
| Gross margin | 25.1% | 28.1% | 28.6% | 28.6% |
| Revenue per employee | £114k | £122k | £124k | £122k |
| Profit per employee | £879 | £3.5k | £5.3k | £16 |
| Cash conversion | 0.3% | 38.1% | 5.6% | 4.5% |
| Growth (year on year) | ||||
| Revenue growth | — | ▲9.9% | ▲4.9% | ▼1.5% |
| Profit growth | — | ▲311.1% | ▲54.8% | ▼99.7% |
| Headcount growth | — | ▲3.1% | ▲3% | 0% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £2.1m | £2.4m | £2.5m | £77.8k |
| Net assets | £480k | £556k | £348k | £353k |
| Fixed assets | £1m | £966k | £10.7m | £10.8m |
| Current assets | £21.9m | £26.2m | £23.5m | £85.1k |
| Debtors | £6.5m | £8.5m | £7.2m | £7.2m |
| Cash from operations | £3.8k | £992k | £154k | £121k |
| Source | FullAccounts · bulk data Feb 2024 | FullAccounts · bulk data Feb 2024 | FullAccounts · bulk data Mar 2025 | FullAccounts · bulk data Mar 2026 |
How the business works
- Profit margin
- 0%
- Profit ÷ revenue.
- Gross margin
- 28.6%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £122k
- Revenue ÷ average employees.
- Profit per employee
- £16
- Profit ÷ average employees.
- Cash conversion
- 4.5%
- 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
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 19.2%
- 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
- ▲1%
- Now £353k
- Cash at bank
- ▼97%
- Now £77.8k
- Headcount
- 0%
- Now 308
- Deferred income
- —
- Now —
- Fixed assets
- ▲1%
- Now £10.8m
Group structure
Ownership chain
- Westley International Holdings Ltdultimate parent75–100%
- Liquidus Holdings Limited75–100%
- Musgrave Holdings Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Westley Group LimitedRev. £37.7m · Profit £588k
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from FullAccounts for the year to 30 Jun 2025 (profit £4.9k), from the Companies House accounts bulk data published Mar 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.