How much does Spec Projects Limited make?

Spec Projects Limited reported revenue of £21.9m and £824k profit in the year to 31 Mar 2025, according to its accounts filed at Companies House.

How many employees does Spec Projects Limited have?

Spec Projects Limited reported an average of 27 employees in the year to 31 Mar 2025.

Is Spec Projects Limited profitable?

Yes — Spec Projects Limited reported a profit of £824k in the year to 31 Mar 2025.

Company No. 11359519 · Incorporated 14 May 2018

Spec Projects Limited

Registered name: SPEC PROJECTS LIMITED

Spec Projects Limited made £21.9m revenue and £824k profit in the year to 31 Mar 2025. read from filing text

Spec Projects Limited’s revenue grew 10% to £21.9m in the year to 31 Mar 2025, with £824k profit and 27 employees. The company is classified under “construction of commercial buildings” and is based in Clifton; we hold 4 years of its filed accounts.

Full P&L filedSection F · ConstructionSIC 41201Construction of commercial buildings

Status: Active
Location: Clifton, South West
Age: 8 yrs · since 2018
Type: Private Limited Company

Latest accounts · year to 31 Mar 2025

Key figures

IndependentCapital-lightOperating leverageCash flow filed

Revenue

£21.9m

Growth ▲9.7%

Profit

£824k

Growth ▲35.9%

Profit margin

3.8%

Gross 22.7%

Employees

Change ▲35%

Profit / employee

£30.5k

Revenue/employee £811k

Profitable streak

4yrs

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	Full P&Lread from filing text	Full P&Lread from filing text	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£23.6m	£32m	£20m	£21.9m
Cost of sales	£19.9m	£27.3m	£16.9m	£16.9m
Gross profit	£3.7m	£4.6m	£3m	£5m
Operating profit	£2.4m	£2.9m	£904k	£1.2m
Profit before tax	£2.4m	£2.8m	£825k	£1.1m
Profit after tax	£1.9m	£2.3m	£606k	£824k
Profit (best available)	£1.9m	£2.3m	£606k	£824k
Staff costs	£1.1m	£1.3m	£1.6m	£2.3m
Employees (average)	14	18	20	27
Ratios
Profit margin	8.2%	7.1%	3%	3.8%
Gross margin	15.8%	14.5%	15.1%	22.7%
Revenue per employee	£1.7m	£1.8m	£998k	£811k
Profit per employee	£138k	£127k	£30.3k	£30.5k
Cash conversion	—	—	—	−256.3%
Growth (year on year)
Revenue growth	—	▲35.3%	▼37.6%	▲9.7%
Profit growth	—	▲18.1%	▼73.5%	▲35.9%
Headcount growth	—	▲28.6%	▲11.1%	▲35%
Balance sheet — indirect signals, not revenue
Cash at bank	£1.4m	£715k	£996k	£2.1m
Net assets	£1.4m	£3.7m	£3.5m	£4.3m
Fixed assets	£549k	£594k	£550k	£372k
Current assets	£7.4m	£9.3m	£8.5m	£9m
Debtors	£4.7m	£4.9m	£4.2m	£2.7m
Cash from operations	—	—	—	−£3.1m
Source	Accounts · bulk data May 2024	Accounts · bulk data May 2024	FullAccounts · bulk data Feb 2025	FullAccounts · bulk data Apr 2026

Derived from the latest filing

How the business works

Profit margin: 3.8%; Profit ÷ revenue.
Gross margin: 22.7%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £811k; Revenue ÷ average employees.
Profit per employee: £30.5k; Profit ÷ average employees.
Cash conversion: −256.3%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 1.7%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 12.3%; 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: ▲24%; Now £4.3m
Cash at bank: ▲108%; Now £2.1m
Headcount: ▲35%; Now 27
Deferred income: —; Now —
Fixed assets: ▼32%; Now £372k

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Mar 2025 (profit £824k), from the Companies House accounts bulk data published Apr 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.