How much does Note Windsor Limited make?

Note Windsor Limited reported revenue of £13.1m and a loss of £1.5m in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does Note Windsor Limited have?

Note Windsor Limited reported an average of 94 employees in the year to 31 Dec 2025.

Is Note Windsor Limited profitable?

No — Note Windsor Limited reported a loss of £1.5m in the year to 31 Dec 2025.

Company No. 04849220 · Incorporated 29 Jul 2003

Note Windsor Limited

Registered name: NOTE WINDSOR LIMITED

Part of Note UK Holding Limited group

Note Windsor Limited made £13.1m revenue and a £1.5m loss in the year to 31 Dec 2025. read from filing text

Note Windsor Limited’s revenue fell 34% to £13.1m in the year to 31 Dec 2025, with a loss of £1.5m and 94 employees. The company is classified under “manufacture of loaded electronic boards” and is based in Berkshire; we hold 2 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 26120Manufacture of loaded electronic boards SIC 26309Manufacture of communication equipment other than telegraph, and telephone apparatus and equipment SIC 26511Manufacture of electronic measuring, testing etc. equipment, not for industrial process control SIC 26512Manufacture of electronic industrial process control equipment

Status: Active
Location: Berkshire, South East
Age: 23 yrs · since 2003
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 parent company is Note”

Latest accounts · year to 31 Dec 2025

Key figures

Capital-lightCash flow filed

Revenue

£13.1m

Growth ▼34%

Profit

−£1.5m

Growth ▼213%

Profit margin

−11.6%

Gross 15.8%

Employees

Change ▼9.6%

Profit / employee

−£16k

Revenue/employee £139k

Profitable streak

0yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

2 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2024	31 Dec 2025
Disclosure	Full P&Lread from filing text	Full P&Lread from filing text
Profit & loss
Revenue (turnover)	£19.8m	£13.1m
Cost of sales	£16.7m	£11m
Gross profit	£3.1m	£2.1m
Operating profit	£1.2m	−£1.8m
Profit before tax	£1.3m	−£1.5m
Profit after tax	£1.3m	−£1.5m
Profit (best available)	£1.3m	−£1.5m
Staff costs	£4.1m	£4m
Employees (average)	104	94
Ratios
Profit margin	6.8%	−11.6%
Gross margin	15.5%	15.8%
Revenue per employee	£190k	£139k
Profit per employee	£12.8k	−£16k
Cash conversion	−83.1%	—
Growth (year on year)
Revenue growth	—	▼34%
Profit growth	—	▼213%
Headcount growth	—	▼9.6%
Balance sheet — indirect signals, not revenue
Cash at bank	£3.9m	£4.4m
Net assets	£11.5m	£10m
Fixed assets	£1.1m	£1m
Current assets	£13.5m	£11.7m
Debtors	£4.3m	£2.6m
Deferred income	£541k	£525k
Cash from operations	−£969k	−£155k
Source	FullAccounts · bulk data Sep 2026	FullAccounts · bulk data Sep 2026

Derived from the latest filing

How the business works

Profit margin: −11.6%; Profit ÷ revenue.
Gross margin: 15.8%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £139k; Revenue ÷ average employees.
Profit per employee: −£16k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 7.8%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 4%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 20%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

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: ▼13%; Now £10m
Cash at bank: ▲11%; Now £4.4m
Headcount: ▼10%; Now 94
Deferred income: ▼3%; Now £525k
Fixed assets: ▼10%; Now £1m

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Note UK Holding Limitedultimate parent75–100%
Note Windsor Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (5)

Ipro Holdings LimitedFigures not disclosed
Kasdon (Holdings) LimitedFigures not disclosed
Note Basildon LimitedRev. — · Profit £325k
Note Stonehouse LimitedFigures not disclosed
Sti Enterprises Holdings LimitedRev. — · Profit −£202k

From the Persons with Significant Control register (corporate controllers only).

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit −£1.5m), from the Companies House accounts bulk data published Sep 2026. 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.