Top Tubes Limited
Registered name: TOP TUBES LIMITED
Part of Top Tubes (Holdings) Limited groupTop Tubes Limited made £39.7m revenue and a £195k loss in the year to 31 Mar 2025.
Top Tubes Limited’s revenue fell 13% to £39.7m in the year to 31 Mar 2025, with a loss of £195k and 147 employees. The company is classified under “manufacture of tubes, pipes, hollow profiles and related fittings, of steel” and is based in Wednesbury; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Wednesbury, West Midlands
- Age
- 31 yrs · since 1994
- Type
- Private Limited Company
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L | Full P&L |
| Profit & loss | ||||
| Revenue (turnover) | £60.6m | £52.1m | £45.6m | £39.7m |
| Cost of sales | £44.2m | £40m | £36.1m | £31.5m |
| Gross profit | £16.4m | £12.1m | £9.6m | £8.1m |
| Operating profit | £10.1m | £5.8m | £2.3m | £137k |
| Profit before tax | £10m | £5.7m | £2m | −£266k |
| Profit after tax | £8.1m | £4.9m | £1.6m | −£195k |
| Profit (best available) | £8.1m | £4.9m | £1.6m | −£195k |
| Staff costs | £6.2m | £5.8m | £6.8m | £6.9m |
| Employees (average) | 137 | 146 | 149 | 147 |
| Ratios | ||||
| Profit margin | 13.3% | 9.4% | 3.6% | −0.5% |
| Gross margin | 27.1% | 23.2% | 20.9% | 20.5% |
| Revenue per employee | £442k | £357k | £306k | £270k |
| Profit per employee | £59k | £33.6k | £10.9k | −£1.3k |
| Cash conversion | −41.6% | −184.7% | −280.9% | −1069% |
| Growth (year on year) | ||||
| Revenue growth | — | ▼14.1% | ▼12.4% | ▼13.1% |
| Profit growth | — | ▼39.4% | ▼66.8% | ▼112% |
| Headcount growth | — | ▲6.6% | ▲2.1% | ▼1.3% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £3.7m | £433k | £760k | £1.6m |
| Net assets | £18.4m | £25.1m | £26.7m | £26.5m |
| Fixed assets | £6.1m | £8.4m | £8.1m | £7.9m |
| Current assets | £29.6m | £33.2m | £35.2m | £36.5m |
| Debtors | £15.1m | £11.2m | £10.7m | £8.8m |
| Deferred income | £1.5m | £858k | £1.6m | £1.4m |
| Cash from operations | −£4.2m | −£10.7m | −£6.4m | −£1.5m |
| Source | Accounts · bulk data Dec 2023 | Accounts · bulk data Dec 2023 | FullAccounts · bulk data Dec 2024 | FullAccounts · bulk data Dec 2025 |
How the business works
- Profit margin
- −0.5%
- Profit ÷ revenue.
- Gross margin
- 20.5%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £270k
- Revenue ÷ average employees.
- Profit per employee
- −£1.3k
- Profit ÷ average employees.
- Cash conversion
- −1069%
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 20%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 3.6%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 22.1%
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- ▼1%
- Now £26.5m
- Cash at bank
- ▲111%
- Now £1.6m
- Headcount
- ▼1%
- Now 147
- Deferred income
- ▼11%
- Now £1.4m
- Fixed assets
- ▼2%
- Now £7.9m
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Ownership chain
- Top Tubes (Holdings) Limitedultimate parent75–100%
- Top Tubes Limitedthis company
Bands show the share of ownership each company holds in the one below it.
From the Persons with Significant Control register (corporate controllers only).
Similar profitable businesses
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- Profit
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- Staff
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- P.J. Pipe & Valve Co. LimitedHertford · Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
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- Game Engineering LimitedLincoln · Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
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Sources
Latest figures from FullAccounts for the year to 31 Mar 2025 (profit −£195k), from the Companies House accounts bulk data published Dec 2025. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.