How much does Alternative Heat Limited make?

Alternative Heat Limited reported revenue of £46.3m and £596k profit in the year to 31 Mar 2025, according to its accounts filed at Companies House.

How many employees does Alternative Heat Limited have?

Alternative Heat Limited reported an average of 278 employees in the year to 31 Mar 2025.

Is Alternative Heat Limited profitable?

Yes — Alternative Heat Limited reported a profit of £596k in the year to 31 Mar 2025.

Company No. NI054205 · Incorporated 8 Mar 2005

Alternative Heat Limited

Registered name: ALTERNATIVE HEAT LIMITED

Part of McMu Holdings Limited group

Alternative Heat Limited made £46.3m revenue and £596k profit in the year to 31 Mar 2025. read from filing text

Alternative Heat Limited’s revenue fell 1% to £46.3m in the year to 31 Mar 2025, with £596k profit and 278 employees. The company is classified under “plumbing, heat and air-conditioning installation” and is based in Banbridge; we hold 4 years of its filed accounts.

Full P&L filedSection F · ConstructionSIC 43220Plumbing, heat and air-conditioning installation

Status: Active
Location: Banbridge, Northern Ireland
Age: 21 yrs · since 2005
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. From the filing: “The company’s immediate and ultimate parent undertaking is”

Latest accounts · year to 31 Mar 2025

Key figures

Capital-lightBoring industryCash flow filed

Revenue

£46.3m

Growth ▼1.4%

Profit

£596k

Growth ▼61%

Profit margin

1.3%

Gross 27.2%

Employees

278

Change ▲34.9%

Profit / employee

£2.1k

Revenue/employee £166k

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)	£29.5m	£31.6m	£46.9m	£46.3m
Cost of sales	£21.5m	£24.2m	£37.9m	£33.7m
Gross profit	£8m	£7.4m	£9m	£12.6m
Operating profit	£3.4m	£2.2m	£1.2m	£548k
Profit before tax	£3.4m	£2.2m	£1.2m	£562k
Profit after tax	£3m	£2.5m	£1.5m	£596k
Profit (best available)	£3m	£2.5m	£1.5m	£596k
Staff costs	£4.7m	£6.5m	£9.4m	£13.7m
Employees (average)	115	150	206	278
Ratios
Profit margin	10.2%	7.9%	3.3%	1.3%
Gross margin	27.1%	23.5%	19.2%	27.2%
Revenue per employee	£257k	£211k	£228k	£166k
Profit per employee	£26.1k	£16.7k	£7.4k	£2.1k
Cash conversion	−121.7%	90.7%	−429.2%	660.9%
Growth (year on year)
Revenue growth	—	▲7.1%	▲48.3%	▼1.4%
Profit growth	—	▼16.4%	▼39.1%	▼61%
Headcount growth	—	▲30.4%	▲37.3%	▲34.9%
Balance sheet — indirect signals, not revenue
Cash at bank	£8.8m	£899k	£5.7m	£571k
Net assets	£9.9m	£10.2m	£10.6m	£10.2m
Fixed assets	£1.4m	£2.5m	£2.6m	£3m
Current assets	£16.7m	£12.9m	£19.2m	£21.6m
Debtors	£5.1m	£8.9m	£11.3m	£16.2m
Deferred income	£3.9k	£43.3k	£45.2k	£3m
Cash from operations	−£4.2m	£2m	−£5m	£3.6m
Source	FullAccounts · bulk data Nov 2023	FullAccounts · bulk data Nov 2023	FullAccounts · bulk data Dec 2024	FullAccounts · bulk data Dec 2025

Derived from the latest filing

How the business works

Profit margin: 1.3%; Profit ÷ revenue.
Gross margin: 27.2%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £166k; Revenue ÷ average employees.
Profit per employee: £2.1k; Profit ÷ average employees.
Cash conversion: 660.9%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 6.6%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 6.6%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 35%; 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: ▼4%; Now £10.2m
Cash at bank: ▼90%; Now £571k
Headcount: ▲35%; Now 278
Deferred income: ▲6608%; Now £3m
Fixed assets: ▲16%; Now £3m

Corporate ownership

Group structure

Ownership chain

McMu Holdings Limitedultimate parent75–100%
Bann Commercial Ni Limited75–100%
Alternative Heat Limitedthis company

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

Sister companies (6)

Kane Group Building Services LtdRev. £87.6m · Profit £3.4m
Bann Properties LimitedRev. — · Profit £17.1k
Castle Capital LimitedFigures not disclosed
M G a Communication LimitedFigures not disclosed
Natural Eco Energy LimitedRev. — · Profit £18.2k
Semple & McKillop 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 £596k), from the Companies House accounts bulk data published Dec 2025. Spotted an error? Request a correction.

Updated from Companies House on 15 Oct 2026

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.