BALTIC WORKS LTD
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Cash
£685k
-23.5% vs 2024
Net assets
£3m
-35.6% lowest in 3 filed years
Employees
59
+13.5% highest in 3 filed years
Profit before tax
£2.3m
+32.1% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-11-30
| Metric | Trend | 2023-12-03 | 2024-11-30 | 2025-11-30 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £9,450,790 | £10,370,264 | £14,144,660 | +36.4% | |
| Operating profit | £944,328 | £1,855,610 | £2,368,799 | +27.7% | |
| Profit before tax | £856,744 | £1,772,041 | £2,341,646 | +32.1% | |
| Net profit | £754,453 | £2,087,764 | £1,831,620 | -12.3% | |
| Cash | £548,637 | £896,568 | £685,482 | -23.5% | |
| Total assets less current liabilities | £4,740,070 | £5,750,892 | £3,568,818 | -37.9% | |
| Net assets | £3,053,986 | £4,692,484 | £3,024,104 | -35.6% | |
| Equity | £3,053,986 | £4,692,484 | £3,024,104 | -35.6% | |
| Average employees | 51 | 52 | 59 | +13.5% | |
| Wages | £1,786,304 | £1,771,547 | £2,160,572 | +22% | |
| Directors' remuneration | £335,734 | £187,246 | £195,000 | +4.1% | |
| Directors' pension contributions | £126,601 | £14,601 | £68,035 | +366% |
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 | 2023-12-03 | 2024-11-30 | 2025-11-30 |
|---|---|---|---|---|
| Operating margin | 10.0% | 17.9% | 16.7% | |
| Net margin | 8.0% | 20.1% | 12.9% | |
| Return on capital employed | 19.9% | 32.3% | 66.4% | |
| Gearing (liabilities / total assets) | 58.0% | 42.6% | 61.7% | |
| Current ratio | 1.92x | 2.39x | 1.29x | |
| Interest cover | 10.70x | 22.00x | 60.87x |
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 1 time since incorporation
- BALTIC WORKS LTD 2013-10-07 → present
- LISTER SQUARE (NO.182) LIMITED 2013-09-25 → 2013-10-07
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Morris & Young, Statutory Auditor Chartered Accountants
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.”
Group structure
- BALTIC WORKS LTD · parent
- Halley Stevensons Ltd 100%
Significant events
- “The Group has repaid all of its bank debt during the year.”
- “The bank loans were repaid in full during the year.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CAMPBELL, James Iain Cameron | Director | 2015-10-07 | Sep 1968 | British |
| LAING, Kay Anthea | Director | 2022-02-23 | Dec 1974 | Scottish |
| MOIR, Malcolm | Director | 2013-10-22 | Feb 1953 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MORTON FRASER SECRETARIES LIMITED | Corporate Secretary | 2013-09-25 | 2013-10-22 |
| FLYNN, Austin | Director | 2013-09-25 | 2013-10-22 |
| WIGGLESWORTH, Martin Hardwick | Director | 2013-10-22 | 2021-05-31 |
| MORTON FRASER DIRECTORS LIMITED | Corporate Director | 2013-09-25 | 2013-10-22 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Halley Stevensons (Eot) Ltd | Corporate entity | Shares 75–100%, Voting 75–100% | 2025-06-27 | Active |
| Malcolm Moir | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2016-09-25 | Ceased 2025-06-27 |
Filing timeline
Last 20 of 53 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-31 | AA | accounts | Accounts with accounts type group | |
| 2026-03-21 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-12-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-02 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-02 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-09-24 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-09-23 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-08-22 | AA | accounts | Accounts with accounts type group | |
| 2025-04-22 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2025-04-22 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-11-21 | SH01 | capital | Capital allotment shares | |
| 2024-10-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-05-08 | AA | accounts | Accounts with accounts type group | |
| 2023-10-09 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2023-10-06 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2023-09-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-14 | AA | accounts | Accounts with accounts type group | |
| 2022-09-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-06-08 | AA | accounts | Accounts with accounts type group | |
| 2022-02-23 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 3
- Officers appointed
- 0
- Officers resigned
- 0
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.