Abel Magnets Limited

Abel Magnets Ltd from Sheffield UK: small company, active status, founded 26 years ago, 9 employees, £1,487,569 assets, virtual address, 5 directors, 1 owner. Regular importer of electrical machinery and equipment (22 months imported). It's a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50. The company operates in the other manufacturing n.e.c. industries. Officially, it has one owner or PSCs, five directors, and nine employees.

Abel Magnets is a manufacturer and supplier of magnetic and magnet-receptive products, as well as display-related items like double-sided adhesive tapes and hook loop rolls. The company’s website showcases a wide range of products, from magnetic tapes and sheets to hooks and labels, catering to various applications. It appears to be primarily an e-commerce business, with a focus on online sales and providing information to customers. They even offer full-colour printed magnetic sheets and magnetic letters and numbers. The site encourages customers to contact them for any magnet-related inquiries.

Financially, Abel Magnets Ltd presents a mixed picture. Current assets increased by 8%, reaching £1.5 million, while net assets also grew by 8.3% to £1.2 million. Bank borrowings remained relatively stable, and cash reserves increased by 6%, reaching £590,000. However, trade debtors rose significantly by 32%, reaching £500,000, which could indicate challenges in collecting payments. The company’s creditors also increased by 35%, reaching £300,000. Despite these changes, the company’s assets are healthy. The lack of an auditor is not unusual for a small company, and the financial statements are unaudited.

Overall, Abel Magnets Ltd seems to be a stable, albeit small, business. The increase in debtors and creditors suggests a period of growth, but also potential cash flow management challenges. The company's focus on niche products and online sales appears to be working, but the virtual address raises questions about the company's physical presence and infrastructure.

Registered in England/Wales under the registration number 03671776, with a registered address at S8 0TB, England, Sheffield, C/O Henry Bramall & Co Ltd Unit 8, Acorn Business Park, Woodseats Close.

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