British Velvets Limited

British Velvets Ltd, based in Burnley, UK, is a small, holding company with an active status, celebrating 70 years in business. Founded in 1955, the company employs 14 people and holds assets worth £1,461,341. With two directors and one owner, it operates from a real address and has a long history of importing and exporting special woven and decorative fabrics—54 months of imports and 37 months of exports, respectively.

The company’s website showcases British Velvets as a leading UK weaver of velvets for soft furnishings, upholstery, and contract markets. It boasts a vast selection of 750 options, emphasizing high-quality production and a heritage dating back to 1932. The business caters to both domestic and international clients, with a showroom even located in Harrods, London. It's clear they're focused on maintaining a reputation for quality and craftsmanship.

Financially, British Velvets Ltd presents a mixed picture. While cash reserves remained stable at £190,000, accrued liabilities decreased significantly by 57%, dropping to £15,000. However, creditors increased dramatically by 100%, reaching £670,000, and net assets declined by 38% to £820,000. Trade debtors also decreased by 23%, suggesting potential difficulties in collecting payments. The company’s small size—meeting two of three criteria for a small company—allows for flexibility, but the increase in creditors could indicate a need for closer cash flow management. No auditor is mentioned, which is typical for a company of this size. The rise in minimum operating lease payments by 22% may also be a factor to watch.

Registered in England/Wales under the registration number 00547526, with a registered address at BB11 5TY, Burnley, Lancashire, Unit 1 Farrington Place, Rossendale Rd Ind Est.

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