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Company No. 09644627 · Incorporated 17 Jun 2015

Midgard City Limited

Registered name: MIDGARD CITY LIMITED

Part of JRL Group Holdings Limited group

Midgard City Limited made £62.8m revenue and a £3.3m loss in the year to 30 Apr 2025.

Midgard City Limited’s revenue was £62.8m in the year to 30 Apr 2025, with a loss of £3.3m and 13 employees. The company is classified under “construction of commercial buildings” and is based in Borehamwood; we hold 3 years of its filed accounts.

Full P&L filedSection F · ConstructionSIC 41201Construction of commercial buildingsSIC 41202Construction of domestic buildings
Status
Active
Location
Borehamwood, East of England
Age
11 yrs · since 2015
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: “JRL Group Holdings Limited”

Latest accounts · year to 30 Apr 2025

Key figures

Revenue
£62.8m
Growth —
Profit
−£3.3m
Growth —
Profit margin
−5.3%
Gross −4.8%
Employees
13
Change —
Profit / employee
−£256k
Revenue/employee £4.8m
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.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to31 Dec 202231 Dec 202330 Apr 2025
DisclosureFull P&LFull P&LFull P&L
Profit & loss
Revenue (turnover)£3.6m£27.1m£62.8m
Cost of sales£3.3m£24.1m£65.8m
Gross profit£301k£2.9m−£3m
Operating profit£69k£2.3m−£4.4m
Profit before tax—£2.3m−£4.4m
Profit after tax£55.9k£1.8m−£3.3m
Profit (best available)£55.9k£1.8m−£3.3m
Staff costs—£425k£1.5m
Employees (average)3813
Ratios
Profit margin1.5%6.6%−5.3%
Gross margin8.3%10.8%−4.8%
Revenue per employee£1.2m£3.4m£4.8m
Profit per employee£18.6k£223k−£256k
Growth (year on year)
Revenue growth—▲644.9%—
Profit growth—▲3089%—
Headcount growth—▲166.7%—
Balance sheet — indirect signals, not revenue
Cash at bank£722k£608k£8.8m
Net assets−£77.8k£1.7m−£1.6m
Current assets£2.1m£7.3m£28.5m
Debtors£1.2m£3m£14m
Deferred income£299k£1.2m£10.9m
SourceAccounts · bulk data Dec 2024Accounts · bulk data Dec 2024FullAccounts · bulk data Jan 2026
Derived from the latest filing

How the business works

Profit margin
−5.3%
Profit ÷ revenue.
Gross margin
−4.8%
Gross profit ÷ revenue. High for software and services.
Revenue per employee
£4.8m
Revenue ÷ average employees.
Profit per employee
−£256k
Profit ÷ average employees.
Cash conversion
—
Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue
—
Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue
17.3%
Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue
22.3%
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
—
Now −£1.6m
Cash at bank
—
Now £8.8m
Headcount
—
Now 13
Deferred income
—
Now £10.9m
Fixed assets
—
Now —

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

  1. JRL Group Holdings Limitedultimate parent75–100%
  2. JRL Group Limited75–100%
  3. Midgard City Limitedthis company

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

Sister companies (28)

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 30 Apr 2025 (profit −£3.3m), from the Companies House accounts bulk data published Jan 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.