How much does Wenzels the Bakers Limited make?

Wenzels the Bakers Limited reported revenue of £63.4m and a loss of £1.8m in the year to 31 Mar 2025, according to its accounts filed at Companies House.

How many employees does Wenzels the Bakers Limited have?

Wenzels the Bakers Limited reported an average of 1,161 employees in the year to 31 Mar 2025.

Is Wenzels the Bakers Limited profitable?

No — Wenzels the Bakers Limited reported a loss of £1.8m in the year to 31 Mar 2025.

Company No. 06080714 · Incorporated 2 Feb 2007

Wenzels the Bakers Limited

Registered name: WENZELS THE BAKERS LIMITED

Part of Wenzels Holdings Ltd group

Wenzels the Bakers Limited made £63.4m revenue and a £1.8m loss in the year to 31 Mar 2025.

Wenzels the Bakers Limited’s revenue fell 7% to £63.4m in the year to 31 Mar 2025, with a loss of £1.8m and 1,161 employees. The company is classified under “retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores” and is based in Watford; we hold 4 years of its filed accounts.

Full P&L filedSection G · Wholesale and retail trade; repair of motor vehiclesSIC 47240Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores

Status: Active
Location: Watford, East of England
Age: 19 yrs · since 2007
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.

Latest accounts · year to 31 Mar 2025

Key figures

Cash flow filed

Revenue

£63.4m

Growth ▼7.1%

Profit

−£1.8m

Growth ▼188.5%

Profit margin

−2.9%

Gross 63.3%

Employees

1,161

Change ▼2.2%

Profit / employee

−£1.6k

Revenue/employee £54.6k

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.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Mar 2022	31 Mar 2023	7 Apr 2024	31 Mar 2025
Disclosure	Full P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£55.9m	£61.4m	£68.3m	£63.4m
Cost of sales	£21.3m	£24.7m	£25.2m	£23.3m
Gross profit	£34.7m	£36.7m	£43.1m	£40.1m
Operating profit	£6.6m	£2.4m	£3.1m	−£2.1m
Profit before tax	£6.6m	£2.4m	£3m	−£2.5m
Profit after tax	£5.6m	£1.6m	£2.1m	−£1.8m
Profit (best available)	£5.6m	£1.6m	£2.1m	−£1.8m
Staff costs	£17.5m	£21.5m	£24.3m	£25.5m
Employees (average)	969	1,092	1,187	1,161
Ratios
Profit margin	10%	2.7%	3%	−2.9%
Gross margin	62%	59.7%	63.2%	63.3%
Revenue per employee	£57.7k	£56.3k	£57.5k	£54.6k
Profit per employee	£5.8k	£1.5k	£1.7k	−£1.6k
Cash conversion	85.9%	124.4%	248.2%	—
Growth (year on year)
Revenue growth	—	▲9.9%	▲11.2%	▼7.1%
Profit growth	—	▼70.5%	▲25.5%	▼188.5%
Headcount growth	—	▲12.7%	▲8.7%	▼2.2%
Balance sheet — indirect signals, not revenue
Cash at bank	£2.4m	£1.2m	£138k	£1.8m
Net assets	£12.3m	£11.5m	£8.4m	£6.6m
Fixed assets	£10.9m	£12.9m	£14m	£12.9m
Current assets	£11.7m	£10.7m	£9m	£10.9m
Debtors	£173k	£44.5k	£933k	£355k
Deferred income	£1.6m	£1.8m	£474k	£712k
Cash from operations	£5.7m	£3m	£7.8m	£2.7m
Source	Accounts · bulk data Dec 2023	Accounts · bulk data Dec 2023	FullAccounts · bulk data Apr 2025	FullAccounts · bulk data Dec 2025

Derived from the latest filing

How the business works

Profit margin: −2.9%; Profit ÷ revenue.
Gross margin: 63.3%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £54.6k; Revenue ÷ average employees.
Profit per employee: −£1.6k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 20.3%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 1.1%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 0.6%; 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: ▼22%; Now £6.6m
Cash at bank: ▲1200%; Now £1.8m
Headcount: ▼2%; Now 1,161
Deferred income: ▲50%; Now £712k
Fixed assets: ▼8%; Now £12.9m

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

Wenzels Holdings Ltdultimate parent75–100%
Wenzels the Bakers Limitedthis company

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

Sister companies (2)

Wenzels Franchise LimitedFigures not disclosed
Wenzels Property LimitedFigures not disclosed

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 Mar 2025 (profit −£1.8m), 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.