Cutwel Limited
Registered name: CUTWEL LIMITED
Part of Project Milan Topco Limited groupCutwel Limited made £3.6m profit in the year to 30 Apr 2026 (revenue not disclosed).
Cutwel Limited reported £3.6m profit in the year to 30 Apr 2026, down 17% on the year before; its revenue was not disclosed. It had 93 employees. The company is classified under “wholesale of machine tools” and is based in Cleckheaton; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Cleckheaton, Yorkshire and The Humber
- Age
- 30 yrs · since 1996
- 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. From the filing: “The company’s immediate parent company is”
Key figures
This company published its profit but not its turnover, so revenue and margins are not disclosed. We never estimate them.
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 30 Apr 2023 | 30 Apr 2024 | 30 Apr 2025 | 30 Apr 2026 |
|---|---|---|---|---|
| Disclosure | Full P&Lread from filing text | Full P&Lread from filing text | Full P&Lread from filing text | Profit only |
| Profit & loss | ||||
| Revenue (turnover) | £26m | £27.9m | £25.9m | — |
| Cost of sales | £15.3m | £16m | £14.7m | £14.8m |
| Gross profit | £10.7m | £11.9m | £11.2m | — |
| Operating profit | £5m | £5.8m | £4.7m | — |
| Profit before tax | £5.6m | £6.3m | £4.9m | £4m |
| Profit after tax | £5m | £5.2m | £4.3m | £3.6m |
| Profit (best available) | £5m | £5.2m | £4.3m | £3.6m |
| Staff costs | £3.7m | £4m | £3.4m | £3.9m |
| Employees (average) | 92 | 94 | 94 | 93 |
| Ratios | ||||
| Profit margin | 19.3% | 18.5% | 16.8% | — |
| Gross margin | 41.1% | 42.6% | 43.2% | — |
| Revenue per employee | £282k | £297k | £275k | — |
| Profit per employee | £54.4k | £55.1k | £46.2k | £38.9k |
| Growth (year on year) | ||||
| Revenue growth | — | ▲7.5% | ▼7.4% | — |
| Profit growth | — | ▲3.3% | ▼16.1% | ▼16.7% |
| Headcount growth | — | ▲2.2% | 0% | ▼1.1% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £1.5m | £941k | £2.3m | £2.9m |
| Net assets | £8.6m | £13.8m | £5.1m | £8.7m |
| Fixed assets | £523k | £406k | £405k | £383k |
| Current assets | £12.2m | £17.6m | £10.8m | £13m |
| Debtors | £5.2m | £4.9m | £4.3m | £4.6m |
| Deferred income | £443k | £198k | £168k | £174k |
| Source | FullAccounts · bulk data Aug 2024 | FullAccounts · bulk data Aug 2024 | FullAccounts · bulk data Nov 2025 | FullAccounts · bulk data Oct 2026 |
How the business works
- Profit margin
- —
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- £38.9k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- 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
- ▲71%
- Now £8.7m
- Cash at bank
- ▲24%
- Now £2.9m
- Headcount
- ▼1%
- Now 93
- Deferred income
- ▲4%
- Now £174k
- Fixed assets
- ▼6%
- Now £383k
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
- Project Milan Topco Limitedultimate parent75–100%
- Project Milan Midco Limited75–100%
- Project Milan Midco 2 Limited75–100%
- Project Milan Bidco Limited75–100%
- Cutwel Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (1)
- Toolex LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Similar profitable businesses
- Lapwing UK. LtdPershore · Wholesale of machine tools
- Revenue
- £23.5m
- Profit
- £1.7m
- Staff
- 79
- Direct Tool Company LimitedSouthampton · Wholesale of machine tools
- Revenue
- £22.5m
- Profit
- £2.6m
- Staff
- 53
- Matrix Tooling Services LimitedManchester · Wholesale of machine tools
- Revenue
- £20.8m
- Profit
- £955k
- Staff
- 60
- E. McIntyre & Sons LimitedColeraine · Wholesale of machine tools
- Revenue
- £19.7m
- Profit
- £3.1m
- Staff
- 86
- Fyfes Vehicle and Engineering Supplies LtdCo. Antrim · Wholesale of machine tools
- Revenue
- £34.4m
- Profit
- £4.3m
- Staff
- 253
- Star Micronics GB LimitedDerby · Wholesale of machine tools
- Revenue
- £15.7m
- Profit
- £651k
- Staff
- 30
Sources
Latest figures from FullAccounts for the year to 30 Apr 2026 (profit £3.6m), from the Companies House accounts bulk data published Oct 2026. Spotted an error? Request a correction.
Updated from Companies House on 16 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.