How much does Merthyr (South Wales) Limited make?

Merthyr (South Wales) Limited reported revenue of £1.7m and a loss of £3.6m in the year to 31 Dec 2024, according to its accounts filed at Companies House.

How many employees does Merthyr (South Wales) Limited have?

Merthyr (South Wales) Limited reported an average of 14 employees in the year to 31 Dec 2024.

Is Merthyr (South Wales) Limited profitable?

No — Merthyr (South Wales) Limited reported a loss of £3.6m in the year to 31 Dec 2024.

Company No. 04261274 · Incorporated 30 Jul 2001

Merthyr (South Wales) Limited

Registered name: MERTHYR (SOUTH WALES) LIMITED

Part of Gwent Holdings Limited group

Merthyr (South Wales) Limited made £1.7m revenue and a £3.6m loss in the year to 31 Dec 2024. read from filing text

Merthyr (South Wales) Limited’s revenue fell 97% to £1.7m in the year to 31 Dec 2024, with a loss of £3.6m and 14 employees. The company is classified under “development of building projects” and is based in Newport; we hold 4 years of its filed accounts.

Full profit & loss filedSection F · ConstructionSIC 41100Development of building projects

Status: Active
Location: Newport, Wales
Age: 25 yrs · since 2001
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 is a wholly owned subsidiary of Merthyr Holdings Limited,”

Latest accounts · year to 31 Dec 2024

Key figures

Revenue

£1.7m

Growth ▼97%

Profit

−£3.6m

Growth ▼1768%

Profit margin

−218%

Gross 34.7%

Employees

Change ▼86.1%

Profit / employee

−£257k

Revenue/employee £118k

Profitable streak

0yrs

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 Dec 2021	31 Dec 2022	31 Dec 2023	31 Dec 2024
Disclosure	Profit & lossread from filing text	Profit & lossread from filing text	Profit & lossread from filing text	Profit & lossread from filing text
Profit & loss
Revenue (turnover)	£42.8m	£75.2m	£54.6m	£1.7m
Cost of sales	£44.2m	£64.3m	£50.4m	—
Gross profit	−£1.4m	£10.9m	£4.2m	£573k
Operating profit	−£2.1m	£10.4m	£3.2m	−£2.2m
Profit before tax	−£3.7m	£7.9m	£500k	−£3.6m
Profit after tax	−£2.8m	£2.7m	£216k	−£3.6m
Profit (best available)	−£2.8m	£2.7m	£216k	−£3.6m
Staff costs	£5.9m	£5.8m	£6.7m	£1.1m
Employees (average)	135	117	101	14
Ratios
Profit margin	−6.6%	3.6%	0.4%	−218%
Gross margin	−3.2%	14.5%	7.6%	34.7%
Revenue per employee	£317k	£643k	£541k	£118k
Profit per employee	−£20.9k	£23.1k	£2.1k	−£257k
Growth (year on year)
Revenue growth	—	▲75.6%	▼27.4%	▼97%
Profit growth	—	—	▼92%	▼1768%
Headcount growth	—	▼13.3%	▼13.7%	▼86.1%
Balance sheet — indirect signals, not revenue
Cash at bank	£16.9m	£10.5m	£1.2m	£484k
Net assets	£1.4m	£4.1m	£4.3m	£696k
Fixed assets	£4.7m	£1.6m	£736k	£444k
Current assets	£82.6m	£110m	£123m	£87.7m
Debtors	£9.9m	£11.6m	£9.5m	£663k
Deferred income	£755k	£615k	£1.7m	£540k
Source	FullAccounts · bulk data May 2024	FullAccounts · bulk data May 2024	FullAccounts · bulk data Mar 2025	FullAccounts · bulk data Jul 2026

Derived from the latest filing

How the business works

Profit margin: −218%; Profit ÷ revenue.
Gross margin: 34.7%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £118k; Revenue ÷ average employees.
Profit per employee: −£257k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 26.9%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 32.7%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 40.2%; 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: ▼84%; Now £696k
Cash at bank: ▼59%; Now £484k
Headcount: ▼86%; Now 14
Deferred income: ▼68%; Now £540k
Fixed assets: ▼40%; Now £444k

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

Ownership chain

Gwent Holdings Limitedultimate parent75–100%
Gwent Investments Limited75–100%
Merthyr Holdings Limited75–100%
Merthyr (South Wales) Limitedthis company

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

Subsidiaries (2)

Ffos-Y-Fran (Commoners) LimitedFigures not disclosed
Merthyr (Nominee NO.1) LimitedFigures not disclosed

Sister companies (1)

Merthyr (Ffos-Y-Fran) 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 Dec 2024 (profit −£3.6m), from the Companies House accounts bulk data published Jul 2026. Spotted an error? Request a correction.