Baxter Kelly Ltd
Registered name: BAXTER KELLY LTD
Baxter Kelly Ltd made £43.1m revenue and £1.1m profit in the year to 31 May 2024.
Baxter Kelly Ltd’s revenue grew 111% to £43.1m in the year to 31 May 2024, with £1.1m profit and 154 employees. The company is classified under “construction of domestic buildings” and is based in London; we hold 3 years of its filed accounts.
- Status
- In Administration
- Location
- London, London
- Age
- 10 yrs · since 2015
- Type
- Private Limited Company
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 May 2022 | 31 May 2023 | 31 May 2024 |
|---|---|---|---|
| Disclosure | No P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | — | £20.5m | £43.1m |
| Cost of sales | — | £16.3m | £37.4m |
| Gross profit | — | £4.2m | £5.7m |
| Operating profit | — | £2.3m | £1.6m |
| Profit before tax | — | £2.2m | £1.5m |
| Profit after tax | — | £1.8m | £1.1m |
| Profit (best available) | — | £1.8m | £1.1m |
| Staff costs | — | £3.2m | £7.2m |
| Employees (average) | 77 | 78 | 154 |
| Ratios | |||
| Profit margin | — | 8.6% | 2.4% |
| Gross margin | — | 20.6% | 13.3% |
| Revenue per employee | — | £262k | £280k |
| Profit per employee | — | £22.6k | £6.8k |
| Cash conversion | — | −54.4% | −94.8% |
| Growth (year on year) | |||
| Revenue growth | — | — | ▲110.6% |
| Profit growth | — | — | ▼40.3% |
| Headcount growth | — | — | ▲97.4% |
| Balance sheet — indirect signals, not revenue | |||
| Cash at bank | £4.7k | £614k | £461k |
| Net assets | £83.2k | £1.4m | £2.4m |
| Fixed assets | £769k | £520k | £1.3m |
| Current assets | £1.8m | £6.2m | £9.3m |
| Debtors | £709k | £2.1m | £474k |
| Cash from operations | — | −£1.3m | −£1.5m |
| Source | FullAccounts · bulk data Mar 2024 | FullAccounts · bulk data Mar 2024 | FullAccounts · bulk data Feb 2025 |
How the business works
- Profit margin
- 2.4%
- Profit ÷ revenue.
- Gross margin
- 13.3%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £280k
- Revenue ÷ average employees.
- Profit per employee
- £6.8k
- Profit ÷ average employees.
- Cash conversion
- −94.8%
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 3.1%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 1.1%
- 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
- ▲76%
- Now £2.4m
- Cash at bank
- ▼25%
- Now £461k
- Headcount
- ▲97%
- Now 154
- Deferred income
- —
- Now —
- Fixed assets
- ▲159%
- Now £1.3m
Similar profitable businesses
- Tithegrove LimitedSwindon · Construction of domestic buildings
- Revenue
- £43.5m
- Profit
- £1.4m
- Staff
- 151
- Oakmere Homes (Northwest) LtdKendal · Construction of domestic buildings
- Revenue
- £43.7m
- Profit
- £3.7m
- Staff
- —
- Carver (Wolverhampton) LimitedConstruction of domestic buildings
- Revenue
- £44.1m
- Profit
- £432k
- Staff
- 219
- HMH Civils LimitedStockton on Tees · Construction of domestic buildings
- Revenue
- £45.8m
- Profit
- £1.6m
- Staff
- 54
- Shropshire Homes LimitedShrewsbury · Construction of domestic buildings
- Revenue
- £40.3m
- Profit
- £1.6m
- Staff
- 100
- Newland Homes LimitedGloucester · Construction of domestic buildings
- Revenue
- £40.2m
- Profit
- £96.2k
- Staff
- 70
Sources
Latest figures from FullAccounts for the year to 31 May 2024 (profit £1.1m), from the Companies House accounts bulk data published Feb 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.