1st Choice Tool & Plant Hire Limited

1st Choice Tool & Plant Hire Limited, based in Greenford, UK, is a small, active company established 19 years ago. With 15 employees and £975,589 in assets, it’s a well-established player in the construction equipment rental sector. The company, overseen by three directors and two owners, maintains a real address and boasts a solid 4.0 Google rating from 17 reviews. It’s a regular importer of vehicles, parts, and accessories (excluding trains and trams), with recent activity recorded as of March 2024.

The company operates within the renting and leasing of construction and civil engineering machinery and equipment industries. It's a small company, meeting two of three conditions: turnover under £10.2 million, balance sheet total under £5.1 million, and fewer than 50 employees. The website is not available to analyze.

Financially, 1st Choice Tool & Plant Hire Limited shows some interesting trends. Cash bank on hand declined by 36%, dropping to £500,000, while bank borrowings increased by 19%, reaching £1 million. Debtors surged by 210%, indicating a possible increase in outstanding payments from customers, or perhaps an extension of credit terms. Creditors also grew by 32%, suggesting increased reliance on supplier financing. However, net assets increased by 6.6%, reaching £3.5 million, which is a positive sign. The company’s net current assets liabilities increased dramatically, from a negative £20,000 to a positive £130,000, which is a very good change. The company's property, plant, and equipment grew by 17%, reaching £7.9 million. It's worth noting that the accounts are described as "filleted" and unaudited, relying on director-reported data. There is no auditor mentioned.

Overall, 1st Choice Tool & Plant Hire Limited appears to be navigating a period of growth, but also facing some financial pressures. The increase in debt and reliance on supplier financing, alongside the decrease in cash reserves, warrants careful monitoring. The company’s ability to manage these pressures and capitalize on its position in the construction equipment rental market will be key to its long-term success.

Registered in England/Wales under the registration number 05467380, with a registered address at UB6 0BN, England, Greenford, Middlesex, 10a Lyon Way.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.