DBW FM LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-11-18 (in 6mo)
Last made up 2025-11-04
Watchouts
None on the register
Cash
£19M
+52.2% vs 2024
Net assets
£67M
+15.5% vs 2024
Employees
217
0% vs 2024
Profit before tax
£7M
+60.9% vs 2024
Name history
Renamed 2 times since incorporation
- DBW FM LIMITED 2017-10-06 → present
- FINANCE WALES INVESTMENTS LIMITED 2001-10-31 → 2017-10-06
- WELSH DEVELOPMENT CAPITAL (MANAGEMENT) LIMITED 1984-07-17 → 2001-10-31
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £26,457,321 | £25,392,182 | |
| Operating profit | £2,956,992 | £5,331,241 | |
| Profit before tax | £4,510,940 | £7,257,436 | |
| Net profit | £4,510,940 | £6,570,394 | |
| Cash | £12,751,572 | £19,402,802 | |
| Total assets less current liabilities | £57,756,064 | £66,716,458 | |
| Net assets | £57,756,064 | £66,716,458 | |
| Equity | £57,756,064 | £66,716,458 | |
| Average employees | 217 | 217 | |
| Wages | £13,132,403 | £13,541,553 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 11.2% | 21.0% | |
| Net margin | 17.0% | 25.9% | |
| Return on capital employed | 5.1% | 8.0% | |
| Gearing (liabilities / total assets) | 8.4% | 12.6% | |
| Current ratio | 8.23x | 5.31x |
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.
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Forvis Mazars LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“As a result of this assessment, the directors consider that it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 21 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HITCHINGS, Elizabeth Anne | Secretary | 2022-12-01 | — | — |
| MAGUINNESS, Neil | Director | 2019-08-21 | Mar 1968 | British |
| OWEN, Michael | Director | 2015-10-01 | Dec 1968 | British |
| STAZIKER, David James | Director | 2018-04-01 | Sep 1969 | British |
| THORLEY, Giles Alexander | Director | 2016-04-04 | Jun 1967 | British |
Show 21 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DAVIES, Michael James | Secretary | 2005-06-24 | 2008-09-30 |
| DENTON, Alasdair Keith | Secretary | 1999-06-21 | 2000-08-22 |
| INGHAM, Norman Leonard | Secretary | 2001-11-23 | 2005-06-24 |
| MORRIS, Colin John | Secretary | — | 1999-06-21 |
| OATES, Judi May | Secretary | 2008-09-30 | 2022-12-01 |
| THOMAS, Roy John | Secretary | 2000-08-22 | 2001-11-23 |
| BOWEN, John | Director | 1999-04-01 | 2006-03-31 |
| DAVIES, Michael James | Director | 2004-11-02 | 2010-11-17 |
| FOX, Peter James Ernest | Director | 1994-05-19 | 1995-02-15 |
| GLUCKLICH, Thomas Charles | Director | — | 1998-01-16 |
| HUNTER, Robert William | Director | 2019-08-21 | 2026-03-31 |
| JAMES, Philip Wernford | Director | 2002-07-01 | 2006-03-31 |
| JONES, Graham Michael Thelwall | Director | 2001-11-01 | 2006-03-31 |
| JONES, Sian Lloyd | Director | 2004-10-05 | 2015-09-30 |
| LEGGE BOURKE, William | Director | 1998-01-16 | 2002-08-31 |
| MITTEN, Colin | Director | 2003-04-08 | 2004-03-19 |
| O'LEARY, Kevin Patrick | Director | 2010-11-17 | 2018-03-31 |
| SERVINI, Robert | Director | 2002-07-01 | 2006-03-31 |
| THOMAS, John Corris | Director | 1995-03-24 | 1997-06-30 |
| THOMAS, Meirion | Director | — | 1994-05-19 |
| WRIGHT, Peter | Director | 2004-11-30 | 2014-10-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Dbw Managers Limited | Corporate entity | Shares 75–100% | 2018-03-07 | Active |
| Development Bank Of Wales Plc | Corporate entity | Significant influence | 2016-04-06 | Active |
Filing timeline
Last 20 of 181 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-22 | AA | accounts | Accounts with accounts type full | |
| 2025-11-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-27 | AA | accounts | Accounts with accounts type full | |
| 2024-11-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-12 | CH01 | officers | Change person director company with change date | |
| 2023-12-14 | AA | accounts | Accounts with accounts type full | |
| 2023-11-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-02-22 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-02-22 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-02-22 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-02-22 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-12-01 | AP03 | officers | Appoint person secretary company with name date | |
| 2022-12-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2022-11-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-18 | AA | accounts | Accounts with accounts type full | |
| 2021-12-08 | AA | accounts | Accounts with accounts type full | |
| 2021-11-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-04-09 | AA | accounts | Accounts with accounts type full | |
| 2020-11-05 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- 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.
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
-4%
£26,457,321 £25,392,182
-
Cash
+52.2%
£12,751,572 £19,402,802
-
Net assets
+15.5%
£57,756,064 £66,716,458
-
Employees
0%
217 217
-
Operating profit
+80.3%
£2,956,992 £5,331,241
-
Profit before tax
+60.9%
£4,510,940 £7,257,436
-
Wages
+3.1%
£13,132,403 £13,541,553
Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers