Abrasive Power Tools Limited

Abrasive Power Tools Limited, based in Nuneaton, UK, is a small, active company founded 26 years ago in 1998. With two employees and £163,092 in assets, it operates from a virtual address—a point worth noting as 25 companies share the same location. The business is led by a single director and owner, Andy Mumford, and functions as a regular importer and exporter of machinery, boilers, and mechanical appliances, including parts. They’ve imported for 147 months, with the last operation in April 2024, and exported for 10 months, the last being May 2023. The company operates as agents involved in the sale of machinery, industrial equipment, ships and aircraft industries.

The company’s website is minimal, offering little insight into their operations beyond their core business. It doesn’t appear to be an e-commerce platform, suggesting a business-to-business model focused on sales and distribution rather than direct consumer sales.

Financially, Abrasive Power Tools Limited presents a mixed picture. Net assets decreased by 10% to -£350,000, reflecting accumulated losses. However, cash bank on hand increased by a significant 110% to £42,000, a positive sign. Bank borrowings also increased substantially, rising 78% to £62,000, which could indicate investment or working capital needs. Trade debtors decreased by 41%, suggesting better collection practices, but creditors increased by 39%, which is something to keep an eye on. The company’s small size—meeting two of three criteria for a small company—helps maintain agility, but the negative equity is a concern. The accounts are unaudited, as is typical for small companies, and were prepared using Taxfiler software. The company is listed as having a 25% straight line depreciation policy for its plant machinery.

Overall, Abrasive Power Tools Limited seems to be navigating a challenging financial landscape. The increase in cash reserves is encouraging, but the negative equity and rising bank borrowings warrant close monitoring. It's likely that the company is working to manage its costs and improve its profitability, but the current situation suggests a need for careful financial planning.

Registered in England/Wales under the registration number 03671997, with a registered address at CV10 7RJ, United Kingdom, Nuneaton, Warwickshire, 1 The Courtyard Goldsmith Way, Eliot Business Park.

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