How much does Michael Spiers (Jewellers) Limited make?

Michael Spiers (Jewellers) Limited reported revenue of £33.7m and £1.9m profit in the year to 31 Mar 2025, according to its accounts filed at Companies House.

How many employees does Michael Spiers (Jewellers) Limited have?

Michael Spiers (Jewellers) Limited reported an average of 68 employees in the year to 31 Mar 2025.

Is Michael Spiers (Jewellers) Limited profitable?

Yes — Michael Spiers (Jewellers) Limited reported a profit of £1.9m in the year to 31 Mar 2025.

Company No. 00689786 · Incorporated 14 Apr 1961

Michael Spiers (Jewellers) Limited

Registered name: MICHAEL SPIERS (JEWELLERS) LIMITED

Michael Spiers (Jewellers) Limited made £33.7m revenue and £1.9m profit in the year to 31 Mar 2025.

Michael Spiers (Jewellers) Limited’s revenue grew 17% to £33.7m in the year to 31 Mar 2025, with £1.9m profit and 68 employees. The company is classified under “retail sale of watches and jewellery in specialised stores” and is based in Plymouth; we hold 4 years of its filed accounts.

Full P&L filedSection G · Wholesale and retail trade; repair of motor vehiclesSIC 47770Retail sale of watches and jewellery in specialised stores

Status: Active
Location: Plymouth, South West
Age: 65 yrs · since 1961
Type: Private Limited Company

Latest accounts · year to 31 Mar 2025

Key figures

IndependentCash flow filed

Revenue

£33.7m

Growth ▲17.4%

Profit

£1.9m

Growth ▼23.7%

Profit margin

5.8%

Gross 33.1%

Employees

Change ▲1.5%

Profit / employee

£28.6k

Revenue/employee £496k

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&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£24.6m	£26.5m	£28.7m	£33.7m
Cost of sales	£16m	£17m	£18m	£22.6m
Gross profit	£8.6m	£9.5m	£10.8m	£11.2m
Operating profit	£3.5m	£3.2m	£3.5m	£2.8m
Profit before tax	£3.5m	£3.2m	£3.5m	£2.8m
Profit after tax	£2.7m	£2.5m	£2.6m	£1.9m
Profit (best available)	£2.7m	£2.5m	£2.6m	£1.9m
Staff costs	£2.4m	£2.5m	£3m	£3m
Employees (average)	59	60	67	68
Ratios
Profit margin	11%	9.6%	8.9%	5.8%
Gross margin	34.8%	36%	37.4%	33.1%
Revenue per employee	£417k	£442k	£429k	£496k
Profit per employee	£45.7k	£42.2k	£38.1k	£28.6k
Cash conversion	−108.5%	−76.9%	−14.3%	78%
Growth (year on year)
Revenue growth	—	▲7.7%	▲8.5%	▲17.4%
Profit growth	—	▼6.1%	▲0.7%	▼23.7%
Headcount growth	—	▲1.7%	▲11.7%	▲1.5%
Balance sheet — indirect signals, not revenue
Cash at bank	£2.9m	£3m	£394k	£56.1k
Net assets	£9.4m	£11.9m	£14.4m	£16.4m
Fixed assets	£2.4m	£2.9m	£5.2m	£6.9m
Current assets	£13m	£14.4m	£16.1m	£17.3m
Debtors	£119k	£97.2k	£383k	£160k
Deferred income	£253k	£36.6k	£351k	£346k
Cash from operations	−£3.8m	−£2.5m	−£504k	£2.2m
Source	Accounts · bulk data Dec 2023	Accounts · bulk data Dec 2023	FullAccounts · bulk data Dec 2024	FullAccounts · bulk data Dec 2025

Derived from the latest filing

How the business works

Profit margin: 5.8%; Profit ÷ revenue.
Gross margin: 33.1%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £496k; Revenue ÷ average employees.
Profit per employee: £28.6k; Profit ÷ average employees.
Cash conversion: 78%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 20.6%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 1%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 0.5%; 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: ▲13%; Now £16.4m
Cash at bank: ▼86%; Now £56.1k
Headcount: ▲1%; Now 68
Deferred income: ▼1%; Now £346k
Fixed assets: ▲34%; Now £6.9m

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

Subsidiaries (1)

Boarleigh Investment Co. LimitedFigures not disclosed

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

Same industry, similar size

Similar profitable businesses

Industry benchmarks →

Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Mar 2025 (profit £1.9m), from the Companies House accounts bulk data published Dec 2025. Spotted an error? Request a correction.

Updated from Companies House on 17 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.