How much does W.i.p. (Workwear) Limited make?

W.i.p. (Workwear) Limited reported revenue of £19.7m and £4.9m profit in the year to 31 Mar 2025, according to its accounts filed at Companies House.

How many employees does W.i.p. (Workwear) Limited have?

W.i.p. (Workwear) Limited reported an average of 3 employees in the year to 31 Mar 2025.

Is W.i.p. (Workwear) Limited profitable?

Yes — W.i.p. (Workwear) Limited reported a profit of £4.9m in the year to 31 Mar 2025.

Company No. 06213038 · Incorporated 16 Apr 2007

W.i.p. (Workwear) Limited

Registered name: W.I.P. (WORKWEAR) LIMITED

Part of Dragonfly Venture Group Ltd group

W.i.p. (Workwear) Limited made £19.7m revenue and £4.9m profit in the year to 31 Mar 2025.

W.i.p. (Workwear) Limited’s revenue grew 23% to £19.7m in the year to 31 Mar 2025, with £4.9m profit and 3 employees. The company is classified under “manufacture of workwear”; we hold 4 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 14120Manufacture of workwear

Status: Active
Location: North East
Age: 19 yrs · since 2007
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.

Latest accounts · year to 31 Mar 2025

Key figures

Small teamOperating leverage

Revenue

£19.7m

Growth ▲22.9%

Profit

£4.9m

Growth ▲60.7%

Profit margin

25%

Gross 38.4%

Employees

Change 0%

Profit / employee

£1.6m

Revenue/employee £6.6m

Profitable streak

3yrs

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	No P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	—	£15.2m	£16m	£19.7m
Cost of sales	—	£10.2m	£11.2m	£12.2m
Gross profit	—	£5m	£4.8m	£7.6m
Operating profit	—	£4.1m	£4.1m	£6.6m
Profit before tax	—	£4.1m	£4.1m	£6.6m
Profit after tax	—	£3.4m	£3.1m	£4.9m
Profit (best available)	—	£3.4m	£3.1m	£4.9m
Employees (average)	3	3	3	3
Ratios
Profit margin	—	22.1%	19.2%	25%
Gross margin	—	33.1%	30.2%	38.4%
Revenue per employee	—	£5.1m	£5.3m	£6.6m
Profit per employee	—	£1.1m	£1m	£1.6m
Growth (year on year)
Revenue growth	—	—	▲5.4%	▲22.9%
Profit growth	—	—	▼8.5%	▲60.7%
Headcount growth	—	0%	0%	0%
Balance sheet — indirect signals, not revenue
Cash at bank	£652k	£208k	£7.6k	£56.6k
Net assets	£4m	£3.4m	£6.4m	£4.9m
Current assets	£5.1m	£5.3m	£7m	£8.6m
Debtors	£2m	£1.4m	£1.2m	£1.7m
Deferred income	£441k	£890k	£574k	£1.2m
Source	Accounts · bulk data May 2024	Accounts · bulk data May 2024	Accounts · bulk data Jan 2025	FullAccounts · bulk data Dec 2025

Derived from the latest filing

How the business works

Profit margin: 25%; Profit ÷ revenue.
Gross margin: 38.4%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £6.6m; Revenue ÷ average employees.
Profit per employee: £1.6m; 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: 6.1%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 8.6%; 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: ▼23%; Now £4.9m
Cash at bank: ▲648%; Now £56.6k
Headcount: 0%; Now 3
Deferred income: ▲109%; Now £1.2m
Fixed assets: —; Now —

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

Dragonfly Venture Group Ltdultimate parent75–100%
W.i.p. (Workwear) Limitedthis company

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

Sister companies (4)

W.i.p (Work in Progress) LimitedRev. £48.9m · Profit £10.5m
Dragonfly Venture (Trading) LimitedRev. £25.7m · Profit £1.2m
Dragonfly Venture (UK) LimitedFigures not disclosed
Golden Dragon Footwear 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 £4.9m), 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.