How much does Baltic Works Ltd make?

Baltic Works Ltd reported revenue of £14.1m and £3.3m profit in the year to 30 Nov 2025, according to its accounts filed at Companies House.

How many employees does Baltic Works Ltd have?

Baltic Works Ltd reported an average of 59 employees in the year to 30 Nov 2025.

Is Baltic Works Ltd profitable?

Yes — Baltic Works Ltd reported a profit of £3.3m in the year to 30 Nov 2025.

Company No. SC460045 · Incorporated 25 Sep 2013

Baltic Works Ltd

Registered name: BALTIC WORKS LTD

Part of Halley Stevensons (Eot) Ltd group

Baltic Works Ltd made £14.1m revenue and £3.3m profit in the year to 30 Nov 2025.

Baltic Works Ltd’s revenue grew 36% to £14.1m in the year to 30 Nov 2025, with £3.3m profit and 59 employees. The company is classified under “finishing of textiles” and is based in Dundee; we hold 3 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 13300Finishing of textiles

Status: Active
Location: Dundee, Scotland
Age: 13 yrs · since 2013
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 30 Nov 2025

Key figures

Operating leverageCash flow filed

Revenue

£14.1m

Growth ▲36.4%

Profit

£3.3m

Growth ▲382.7%

Profit margin

23.1%

Gross 48.7%

Employees

Change ▲13.5%

Profit / employee

£55.3k

Revenue/employee £240k

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.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to	3 Dec 2023	1 Dec 2024	30 Nov 2025
Disclosure	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£9.5m	£10.4m	£14.1m
Cost of sales	£4.9m	£5.1m	£7.3m
Gross profit	£4.5m	£5.3m	£6.9m
Operating profit	£944k	£1.9m	£2.4m
Profit before tax	£857k	£1.8m	£2.3m
Profit after tax	£551k	£676k	£3.3m
Profit (best available)	£551k	£676k	£3.3m
Staff costs	£2.2m	£2m	£2.6m
Employees (average)	51	52	59
Ratios
Profit margin	5.8%	6.5%	23.1%
Gross margin	47.8%	51.2%	48.7%
Revenue per employee	£185k	£199k	£240k
Profit per employee	£10.8k	£13k	£55.3k
Cash conversion	103.7%	82.9%	188.8%
Growth (year on year)
Revenue growth	—	▲9.7%	▲36.4%
Profit growth	—	▲22.7%	▲382.7%
Headcount growth	—	▲2%	▲13.5%
Balance sheet — indirect signals, not revenue
Cash at bank	£657	£582	£505
Net assets	£733k	£960k	£724k
Fixed assets	£2.4m	£2.4m	£2.3m
Current assets	£218k	£389k	£855k
Debtors	£217k	£389k	£854k
Cash from operations	£979k	£1.5m	£4.5m
Source	FullAccounts · bulk data Aug 2025	FullAccounts · bulk data Aug 2025	FullAccounts · bulk data Aug 2026

Derived from the latest filing

How the business works

Profit margin: 23.1%; Profit ÷ revenue.
Gross margin: 48.7%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £240k; Revenue ÷ average employees.
Profit per employee: £55.3k; Profit ÷ average employees.
Cash conversion: 188.8%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 16.2%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 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: ▼25%; Now £724k
Cash at bank: ▼13%; Now £505
Headcount: ▲13%; Now 59
Deferred income: —; Now —
Fixed assets: ▼4%; Now £2.3m

Corporate ownership

Group structure

Ownership chain

Halley Stevensons (Eot) Ltdultimate parent75–100%
Baltic Works Ltdthis company

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

Subsidiaries (1)

Halley Stevensons LtdRev. £14.1m · Profit £2.1m

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 30 Nov 2025 (profit £3.3m), from the Companies House accounts bulk data published Aug 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.