How much does Morganstone Ltd make?

Morganstone Ltd reported revenue of £48.4m and £318k profit in the year to 5 Apr 2025, according to its accounts filed at Companies House.

How many employees does Morganstone Ltd have?

Morganstone Ltd reported an average of 53 employees in the year to 5 Apr 2025.

Is Morganstone Ltd profitable?

Yes — Morganstone Ltd reported a profit of £318k in the year to 5 Apr 2025.

Company No. 06705551 · Incorporated 23 Sep 2008

Morganstone Ltd

Registered name: MORGANSTONE LTD

Part of Morganstone (Holdings) Limited group

Morganstone Ltd made £48.4m revenue and £318k profit in the year to 5 Apr 2025.

Morganstone Ltd’s revenue grew 39% to £48.4m in the year to 5 Apr 2025, with £318k profit and 53 employees. The company is classified under “other building completion and finishing” and is based in Swansea; we hold 4 years of its filed accounts.

Full P&L filedSection F · ConstructionSIC 43390Other building completion and finishing

Status: Active
Location: Swansea, Wales
Age: 18 yrs · since 2008
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 5 Apr 2025

Key figures

Capital-light

Revenue

£48.4m

Growth ▲39.1%

Profit

£318k

Growth ▼15.3%

Profit margin

0.7%

Gross 4.1%

Employees

Change ▲10.4%

Profit / employee

£6k

Revenue/employee £913k

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.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Mar 2022	31 Mar 2023	31 Mar 2024	5 Apr 2025
Disclosure	Full P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£33m	£30.3m	£34.8m	£48.4m
Cost of sales	£31.5m	£29.5m	£33.6m	£46.4m
Gross profit	£1.5m	£852k	£1.2m	£2m
Operating profit	£420k	−£227k	£568k	£479k
Profit before tax	£394k	−£245k	£507k	£430k
Profit after tax	£312k	−£99k	£375k	£318k
Profit (best available)	£312k	−£99k	£375k	£318k
Staff costs	£3.3m	£2.5m	£2.5m	£2.7m
Employees (average)	77	61	48	53
Ratios
Profit margin	0.9%	−0.3%	1.1%	0.7%
Gross margin	4.5%	2.8%	3.5%	4.1%
Revenue per employee	£428k	£497k	£725k	£913k
Profit per employee	£4.1k	−£1.6k	£7.8k	£6k
Growth (year on year)
Revenue growth	—	▼8.1%	▲14.8%	▲39.1%
Profit growth	—	▼131.7%	—	▼15.3%
Headcount growth	—	▼20.8%	▼21.3%	▲10.4%
Balance sheet — indirect signals, not revenue
Cash at bank	£1.1m	£1.3m	£306k	£1.2m
Net assets	£1.3m	£1.2m	£1.5m	£1.9m
Fixed assets	£67.6k	£261k	£215k	£163k
Current assets	£9.8m	£11.6m	£17.6m	£22.8m
Debtors	£2.3m	£2.8m	£3.4m	£3.4m
Deferred income	£559k	£4.8m	£7.8m	£5.9m
Source	Accounts · bulk data Dec 2023	Accounts · bulk data Dec 2023	FullAccounts · bulk data Sep 2024	FullAccounts · bulk data Dec 2025

Derived from the latest filing

How the business works

Profit margin: 0.7%; Profit ÷ revenue.
Gross margin: 4.1%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £913k; Revenue ÷ average employees.
Profit per employee: £6k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.3%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 12.1%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 7.1%; 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: ▲21%; Now £1.9m
Cash at bank: ▲279%; Now £1.2m
Headcount: ▲10%; Now 53
Deferred income: ▼25%; Now £5.9m
Fixed assets: ▼24%; Now £163k

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

Morganstone (Holdings) Limitedultimate parent75–100%
Morganstone Ltdthis company

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

From the Persons with Significant Control register (corporate controllers only).

Same industry, similar size

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 5 Apr 2025 (profit £318k), 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.