The practice, which has offices in London, Manchester and Edinburgh, said the figures for the year ending 31 May 2025 reflected a ‘challenging trading environment’.
According to documents filed at Companies House, turnover fell 38.9 per cent from £8.87 million in 2024 to £5.42 million.
It also made a £1.38 million loss compared with a £720,392 profit before tax the previous year.
Profit margins over the trading period plummeted too, dropping from 41.2 per cent in 2024 to 18.8 per cent in 2025.
The company’s directors said it had dipped into its cash reserves to help the business through a ‘period of intermittent workload’ and to maintain the ‘capability needed to deliver’ its expected future pipeline of work.
Even so, the average staff numbers at the employee-owned, B-Corp, which says its ‘guiding vision is for resource-conscious architecture that is elegant in its simplicity and created with generosity’, also dropped over the 12-month period – from 83 to 74.
The accounts reveal that Bennetts Associates’ assets decreased in value from £3.5 million to £2.3 million. No dividends were paid out.
A practice spokesperson said: ‘These results reflect a challenging trading environment and the cyclical nature of our market. While we have reduced costs, we have also consciously used some of our cash reserves to invest in retaining the capability needed to deliver our anticipated pipeline of work.
‘Despite the loss, we currently retain a good financial position and remain well positioned for future opportunities, building on our ongoing track record of delivering some of the UK’s largest and most significant projects.’
In 2024 Bennetts Associates re-entered the AJ100 rankings at 47 after eight years away and was named AJ100 New Member of the Year.
Early this year, the practice, working with Stanhope, secured a resolution to grant planning permission from Cambridge City Council for the overhaul of Kett House office block in Cambridge.