How much does M Subs Limited make?

M Subs Limited reported revenue of £12m and £232k profit in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does M Subs Limited have?

M Subs Limited reported an average of 96 employees in the year to 31 Dec 2025.

Is M Subs Limited profitable?

Yes — M Subs Limited reported a profit of £232k in the year to 31 Dec 2025.

Company No. 05874602 · Incorporated 12 Jul 2006

M Subs Limited

Registered name: M SUBS LIMITED

Part of Submergence Group Llc group

M Subs Limited made £12m revenue and £232k profit in the year to 31 Dec 2025. read from filing text

M Subs Limited’s revenue fell 15% to £12m in the year to 31 Dec 2025, with £232k profit and 96 employees. The company is classified under “other manufacturing” and is based in Plymouth; we hold 2 years of its filed accounts.

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

Status: Active
Location: Plymouth, South West
Age: 20 yrs · since 2006
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

Revenue

£12m

Growth ▼15.2%

Profit

£232k

Growth ▼84%

Profit margin

1.9%

Gross 35.4%

Employees

Change ▼16.5%

Profit / employee

£2.4k

Revenue/employee £125k

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.

2 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2024	31 Dec 2025
Disclosure	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£14.2m	£12m
Cost of sales	£8.4m	£7.7m
Gross profit	£5.8m	£4.2m
Operating profit	£1.4m	£382k
Profit before tax	£1.6m	£408k
Profit after tax	£1.4m	£232k
Profit (best available)	£1.4m	£232k
Employees (average)	115	96
Ratios
Profit margin	10.2%	1.9%
Gross margin	40.7%	35.4%
Revenue per employee	£123k	£125k
Profit per employee	£12.6k	£2.4k
Growth (year on year)
Revenue growth	—	▼15.2%
Profit growth	—	▼84%
Headcount growth	—	▼16.5%
Balance sheet — indirect signals, not revenue
Cash at bank	£7.7m	£4m
Net assets	£9.3m	£9m
Fixed assets	£4.1m	£4.1m
Current assets	£12.3m	£10.3m
Debtors	£0	£767k
Deferred income	£37.7k	£49.6k
Source	FullAccounts · bulk data Sep 2026	FullAccounts · bulk data Sep 2026

Derived from the latest filing

How the business works

Profit margin: 1.9%; Profit ÷ revenue.
Gross margin: 35.4%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £125k; Revenue ÷ average employees.
Profit per employee: £2.4k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 34.2%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 0.4%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 6.4%; 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: ▼3%; Now £9m
Cash at bank: ▼48%; Now £4m
Headcount: ▼17%; Now 96
Deferred income: ▲32%; Now £49.6k
Fixed assets: ▲0%; Now £4.1m

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

Submergence Group Llc (registered outside the UK register)ultimate parent75–100%
M Subs Limitedthis company

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

Subsidiaries (4)

Pomphlett Holdings LtdFigures not disclosed
Sigma Precision Engineering Ltd.Figures not disclosed
Turnquay Wharf LtdFigures not disclosed
Zero Yachts LtdFigures 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 £232k), from the Companies House accounts bulk data published Sep 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.