BAE SYSTEMS MARINE LIMITED
Operating as the submarine and surface ship units of the London-listed defence contractor BAE Systems plc, the company manufactures naval vessels and nuclear submarines.
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Cash
—
Latest balance sheet
Net assets
£893M
+13.2% vs 2023
Employees
12,428
+14.9% vs 2023
Profit before tax
£208M
+6% vs 2023
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £2,560,773,000 | £2,772,956,000 | +8.3% | |
| Operating profit | £185,465,000 | £203,372,000 | +9.7% | |
| Profit before tax | £195,718,000 | £207,510,000 | +6% | |
| Net profit | £166,203,000 | £225,632,000 | +35.8% | |
| Cash | — | — | — | |
| Total assets less current liabilities | £1,975,599,000 | £2,234,555,000 | +13.1% | |
| Net assets | £788,510,000 | £892,671,000 | +13.2% | |
| Equity | £788,510,000 | £892,671,000 | +13.2% | |
| Average employees | 10,814 | 12,428 | +14.9% | |
| Wages | £604,888,000 | £703,233,000 | +16.3% | |
| Directors' remuneration | £1,528,000 | £1,738,000 | +13.7% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 7.2% | 7.3% | |
| Net margin | 6.5% | 8.1% | |
| Return on capital employed | 9.4% | 9.1% | |
| Gearing (liabilities / total assets) | 72.4% | 69.9% | |
| Current ratio | 1.30x | 1.44x | |
| Interest cover | — | 79.38x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 4 times since incorporation
- BAE SYSTEMS MARINE LIMITED 2000-02-23 → present
- MARCONI MARINE (VSEL) LIMITED 1998-10-16 → 2000-02-23
- VICKERS SHIPBUILDING & ENGINEERING LIMITED 1997-08-01 → 1998-10-16
- VICKERS SHIPBUILDING AND ENGINEERING LIMITED 1981-12-31 → 1997-08-01
- VICKERS SHIPBUILDING AND ENGINEERING LIMITED 1928-04-18 → 1981-12-31
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“After making due enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue operational existence for at least 12 months from the date of approval of the financial statements. The Company has net assets of £892,671k, made a profit of £225,632k and received orders in the year to the value of £1,781,820k. For this reason they continue to adopt the going concern basis in preparing the financial statements.”
Significant events
- “In October 2024, there was a fire in our Devonshire Dock Hall facility in Barrow in Furness, full operational capability was restored in the facility by the end of 2024 and no material impact is expected on the financial performance of the company.”
- “Following a group re-organisation, the immediate parent company of BAE Systems Marine Limited, BAE Systems Marine Holdings Limited, was transferred from Meslink Limited to BAE Systems (Holdings) Ltd. There was no significant impact on the company's financial position as a result of this change.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 36 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAE SYSTEMS CORPORATE SECRETARY LIMITED | Corporate Secretary | 2025-09-23 | — | — |
| SCOTT, Gavin | Director | 2021-03-01 | Jun 1968 | British |
| TIMMS, Stephen Edward | Director | 2021-03-01 | Dec 1965 | British |
Show 36 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BRUELL, John Peter Hawley | Secretary | 1996-01-03 | 1997-05-31 |
| CLARKE, Anthony | Secretary | 2024-06-01 | 2025-09-23 |
| DAY, Michael | Secretary | — | 1996-01-03 |
| PARKES, David Stanley | Secretary | 2000-07-04 | 2024-05-31 |
| PEACHEY, Eric Albert | Secretary | 1997-06-01 | 2000-07-04 |
| BAVERSTOCK, Gavin James | Director | 2014-11-01 | 2018-01-26 |
| BLAMEY, William James | Director | 2017-04-13 | 2018-01-08 |
| BROADHURST, Norman Neill | Director | — | 1994-06-30 |
| COLE, David Anthony, Mr. | Director | 1999-08-02 | 2008-06-27 |
| COLLARD, Jamie Macrae | Director | 2018-11-20 | 2021-03-01 |
| DAVIES, Charles Noel, Sir | Director | — | 1995-12-02 |
| DAVIES, Julian Penry | Director | — | 1993-08-31 |
| DAVIES, Raymond John Gwynmor | Director | — | 2000-07-01 |
| EASTON, Murray Simpson | Director | 2006-11-02 | 2009-02-27 |
| EASTON, Murray Simpson | Director | 2002-06-03 | 2002-10-11 |
| EDWARDS, Gareth Jeffrey | Director | 2018-01-29 | 2018-11-20 |
| EMERY, Victor Reginald | Director | 2003-05-01 | 2008-06-27 |
| GEORGE, Brian Victor | Director | 1995-09-01 | 1999-08-02 |
| GILBERT, Dennis Ernest | Director | — | 1996-09-06 |
| HOLDEN, Robert David | Director | — | 1996-09-30 |
| HOWELL, Gordon Esau | Director | — | 1993-07-19 |
| HUDSON, John Campbell | Director | 2009-02-27 | 2013-10-25 |
| IMMS, Robin John | Director | 1999-08-02 | 2003-05-01 |
| JAMES, Geoffrey Michael | Director | — | 1994-04-29 |
| JOHNS, Tony | Director | 2013-10-25 | 2017-04-13 |
| KIRBY, Simon Neil | Director | 2000-11-01 | 2002-05-08 |
| LEGGETTER, Rodney Andrew | Director | 2000-07-01 | 2001-01-22 |
| MARTIN, Peter Aquinas | Director | — | 1998-08-14 |
| MCNEILAGE, Alan Gordon | Director | 1996-09-30 | 1999-08-02 |
| MORGAN, Terence Keith, Sir | Director | 2001-01-22 | 2002-04-05 |
| PEAK, Anthony Cecil | Director | — | 1995-12-31 |
| PHILLIPSON, Brian | Director | 2002-03-06 | 2003-05-01 |
| RIGBY, Robert Harry | Director | 1996-03-15 | 2000-11-01 |
| ROBERTS, Roger Keith | Director | 2000-07-01 | 2004-06-10 |
| ROBSON, Clifford Mark | Director | 2018-01-08 | 2021-03-01 |
| WOOD, Simon Daniel | Director | 2008-06-27 | 2014-11-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bae Systems Marine (Holdings) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 232 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-01 | AA | accounts | Accounts with accounts type full | |
| 2025-09-25 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2025-09-25 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-09-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-09 | AA | accounts | Accounts with accounts type full | |
| 2024-06-05 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-06-05 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-12-13 | CH01 | officers | Change person director company with change date | |
| 2023-12-12 | CH01 | officers | Change person director company with change date | |
| 2023-12-11 | CH03 | officers | Change person secretary company with change date | |
| 2023-12-05 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-12-04 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-09-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-08 | AA | accounts | Accounts with accounts type full | |
| 2022-09-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-21 | AA | accounts | Accounts with accounts type full | |
| 2021-09-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-08-23 | AA | accounts | Accounts with accounts type full | |
| 2021-03-01 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.