BAE SYSTEMS GLOBAL COMBAT SYSTEMS MUNITIONS LIMITED
Operating as a subsidiary of the London-listed defence and aerospace group BAE Systems plc, the company manufactures weapons, ammunition, and precision-guided munitions for military applications.
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Cash
—
Latest balance sheet
Net assets
£117m
+11.7% highest in 3 filed years
Employees
1,672
+22.4% highest in 3 filed years
Profit before tax
£48m
+38.3% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £279,524,000 | £369,958,000 | £455,435,000 | +23.1% | |
| Operating profit | £26,053,000 | £32,628,000 | £46,099,000 | +41.3% | |
| Profit before tax | £28,803,000 | £34,839,000 | £48,197,000 | +38.3% | |
| Net profit | £24,335,000 | £28,314,000 | £33,732,000 | +19.1% | |
| Cash | — | — | — | — | |
| Total assets less current liabilities | £206,764,000 | £247,138,000 | £265,895,000 | +7.6% | |
| Net assets | £90,974,000 | £104,756,000 | £117,013,000 | +11.7% | |
| Equity | £90,974,000 | £104,756,000 | £117,013,000 | +11.7% | |
| Average employees | 1,173 | 1,366 | 1,672 | +22.4% | |
| Wages | £56,393,000 | £63,954,000 | £71,854,000 | +12.4% | |
| Directors' remuneration | £474,000 | £504,000 | £567,000 | +12.5% | |
| Directors' pension contributions | £35,000 | £15,000 | £44,000 | +193.3% | |
| Highest paid director | £315,000 | £331,000 | £332,000 | +0.3% |
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 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 9.3% | 8.8% | 10.1% | |
| Net margin | 8.7% | 7.7% | 7.4% | |
| Return on capital employed | 12.6% | 13.2% | 17.3% | |
| Gearing (liabilities / total assets) | 80.2% | 82.1% | 80.3% | |
| Current ratio | 0.76x | 0.79x | 0.74x | |
| Interest cover | 6.07x | 7.77x | 8.23x |
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 2 times since incorporation
- BAE SYSTEMS GLOBAL COMBAT SYSTEMS MUNITIONS LIMITED 2010-06-01 → present
- BAE SYSTEMS LAND SYSTEMS (MUNITIONS & ORDNANCE) LIMITED 2005-01-05 → 2010-06-01
- ROYAL ORDNANCE PLC 1984-08-20 → 2005-01-05
Audit & accounting basis
- Accounting basis
- other
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on the going concern basis, notwithstanding net current liabilities of £85,219k. The Company is dependent for its working capital on funds provided to it by BAE Systems plc...”
Group structure
- BAE SYSTEMS GLOBAL COMBAT SYSTEMS MUNITIONS LIMITED · parent
- Royal Ordnance (Crown Service) Pension Scheme Trustees Limited 100%
- BAE Systems Corporate Secretary Limited 100%
- International Military Sales Limited 100%
- CTA International SAS 50%
Significant events
- “There have been no significant events affecting the Company since the year end.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 42 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAE SYSTEMS CORPORATE SECRETARY LIMITED | Corporate Secretary | 2025-08-07 | — | — |
| MARTIN, Bruce | Director | 2026-10-01 | Sep 1968 | British |
| TILLOTSON, Lisa | Director | 2026-10-01 | Oct 1979 | British |
Show 42 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CLARKE, Anthony | Secretary | 2024-06-01 | 2025-08-07 |
| JARMAN, Patrick Edmund | Secretary | 1998-04-02 | 1999-10-08 |
| MAXWELL, Ian Henry | Secretary | 1996-07-09 | 1998-04-17 |
| PARKES, David Stanley | Secretary | 1999-10-08 | 2024-05-31 |
| STARLING, Christopher | Secretary | — | 1996-07-09 |
| ALLOTT, David Leonard | Director | 2008-05-30 | 2011-09-12 |
| ANDERSON, John Richard | Director | 2000-03-16 | 2006-08-11 |
| ANDERTON, Ian | Director | 2013-02-04 | 2015-04-13 |
| BASSET, Bryan Ronald | Director | — | 1997-08-27 |
| BILLINGHAM, Nigel Anthony | Director | 2004-07-30 | 2005-01-04 |
| BLAKEMORE, Charles Anthony | Director | 2011-09-12 | 2013-02-04 |
| CLAPHAM, David John | Director | 2013-02-04 | 2016-04-01 |
| CLARKE, Michael Andrew | Director | 2020-10-01 | 2025-11-20 |
| COLLINS, Adam Robert | Director | 2017-06-15 | 2020-08-21 |
| CROOKALL, Jonathan Mark | Director | 1998-08-06 | 1999-02-26 |
| CURTIS, Roger Keith | Director | — | 1996-10-24 |
| DAVIES, Andrew Oswell Bede | Director | 2005-01-04 | 2008-05-30 |
| ETHELL, Donald | Director | — | 1992-11-30 |
| FLOWER, Barry Sterling | Director | — | 1998-03-31 |
| FOGG, Stephen | Director | 2015-04-13 | 2015-11-10 |
| FRASER, Alan William Gray | Director | 1993-05-26 | 2000-03-16 |
| GRANT, Jonathan Paul | Director | 2003-11-21 | 2007-11-26 |
| GREEN, Malcolm Frederick, Dr | Director | 1998-09-09 | 2000-03-16 |
| HAINSWORTH, Keith Alan | Director | 2002-07-31 | 2003-11-21 |
| HASLAM, Norman | Director | — | 1995-03-03 |
| HENWOOD, Stephen Hugh | Director | 1997-01-02 | 2000-03-16 |
| HODGSON, Stephen | Director | 1999-10-18 | 2000-03-16 |
| IERLAND, Brian William | Director | 2007-11-26 | 2011-08-08 |
| JAMIESON, Scott William | Director | 2025-11-20 | 2026-10-01 |
| KENYON, Peter | Director | — | 1992-10-30 |
| LEE, Philip John | Director | 1994-09-13 | 1999-12-31 |
| MILLER, Matthew Stephen | Director | 2016-02-24 | 2017-06-15 |
| MILLS, Shaun Michael | Director | 1998-08-10 | 2003-01-31 |
| MORGAN, Terence Keith, Sir | Director | 1994-08-18 | 1996-12-31 |
| OSBALDESTIN, Jennifer Blair | Director | 2015-11-10 | 2020-04-06 |
| PARRY, Michael David | Director | — | 1994-08-18 |
| PEAGRAM, Rebecca Margaret | Director | 2025-11-20 | 2026-10-01 |
| PLANT, Glynn Edward Patrick | Director | 2020-04-06 | 2025-11-20 |
| RICHARDSON, Clive Robert | Director | 1999-11-16 | 2004-07-30 |
| SPARKES, Christopher Neil James | Director | 2011-08-08 | 2013-02-04 |
| TRUMAN, Trevor | Director | — | 1998-08-06 |
| WESTON, John Pix | Director | — | 2000-03-16 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bae Systems (Holdings) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 246 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-10-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-10-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-10-02 | AP01 | officers | Appoint person director company with name date | |
| 2026-10-02 | AP01 | officers | Appoint person director company with name date | |
| 2026-09-30 | AA | accounts | Accounts with accounts type full | |
| 2026-06-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-10 | ANNOTATION | miscellaneous | Legacy | |
| 2025-12-10 | ANNOTATION | miscellaneous | Legacy | |
| 2025-11-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-24 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-20 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-20 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-14 | AA | accounts | Accounts with accounts type full | |
| 2025-08-07 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2025-08-07 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-06-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-09 | AA | accounts | Accounts with accounts type full | |
| 2024-06-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-04 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-06-04 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 4
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.