Morgan Forest Products Limited
Registered name: MORGAN FOREST PRODUCTS LIMITED
Part of Brittons Holdings Limited groupMorgan Forest Products Limited made £11m revenue and a £433k loss in the year to 30 Apr 2025.
Morgan Forest Products Limited’s revenue fell 2% to £11m in the year to 30 Apr 2025, with a loss of £433k and 26 employees. The company is classified under “other business support service activities” and is based in Cardiff; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Cardiff, Wales
- Age
- 19 yrs · since 2006
- 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.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 30 Apr 2022 | 30 Apr 2023 | 30 Apr 2024 | 30 Apr 2025 |
|---|---|---|---|---|
| Disclosure | Profit & loss | Profit & loss | Profit & loss | Profit & loss |
| Profit & loss | ||||
| Revenue (turnover) | £15.2m | £10.4m | £11.3m | £11m |
| Cost of sales | £11.3m | £7.9m | £8.7m | £9m |
| Gross profit | £4m | £2.6m | £2.6m | £2m |
| Operating profit | £1.7m | £137k | −£75.2k | −£405k |
| Profit before tax | £1.6m | £82.6k | −£175k | −£562k |
| Profit after tax | £1.3m | £80.7k | −£252k | −£433k |
| Profit (best available) | £1.3m | £80.7k | −£252k | −£433k |
| Staff costs | £1m | £1m | £1m | £878k |
| Employees (average) | 30 | 33 | 37 | 26 |
| Ratios | ||||
| Profit margin | 8.8% | 0.8% | −2.2% | −3.9% |
| Gross margin | 25.9% | 24.6% | 22.6% | 18.1% |
| Revenue per employee | £508k | £316k | £305k | £424k |
| Profit per employee | £44.7k | £2.4k | −£6.8k | −£16.7k |
| Cash conversion | −28.3% | −533.9% | — | — |
| Growth (year on year) | ||||
| Revenue growth | — | ▼31.6% | ▲8.5% | ▼2.4% |
| Profit growth | — | ▼94% | ▼412.8% | — |
| Headcount growth | — | ▲10% | ▲12.1% | ▼29.7% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £1.2m | £1.3m | £806k | £0 |
| Net assets | £2.6m | £2.6m | £2.3m | £1.9m |
| Fixed assets | £1.2m | £1.2m | £1.3m | £1.2m |
| Current assets | £6.6m | £6.1m | £5.5m | £5.1m |
| Debtors | £2.7m | £2.2m | £2.2m | £2.3m |
| Deferred income | £8.2k | £28.9k | £3.3k | £3.3k |
| Cash from operations | −£481k | −£732k | £28.6k | £365k |
| Source | Accounts · bulk data Nov 2023 | Accounts · bulk data Nov 2023 | FullAccounts · bulk data Jan 2025 | FullAccounts · bulk data Jan 2026 |
How the business works
- Profit margin
- −3.9%
- Profit ÷ revenue.
- Gross margin
- 18.1%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £424k
- Revenue ÷ average employees.
- Profit per employee
- −£16.7k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 10.8%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 0%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 21.3%
- Money owed by customers. Low = customers pay quickly.
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
- ▼18%
- Now £1.9m
- Cash at bank
- ▼100%
- Now £0
- Headcount
- ▼30%
- Now 26
- Deferred income
- 0%
- Now £3.3k
- Fixed assets
- ▼8%
- Now £1.2m
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- Brittons Holdings Limitedultimate parent75–100%
- Morgan Forest Products Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (2)
- F W Morgan (TBS) LimitedFigures not disclosed
- Nicks & Company(Timber)limitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from FullAccounts for the year to 30 Apr 2025 (profit −£433k), from the Companies House accounts bulk data published Jan 2026. Spotted an error? Request a correction.