Canmec Limited

Canmec Limited, based in Wombourne, UK, is a small holding company with an active status, having operated for 37 years. The company employs 13 people and holds assets valued at £4,087,186. With four directors and a single owner, it's a relatively compact organization. Canmec regularly imports and exports iron or steel products, with 28 months of import activity and a substantial 1002 months of export activity recorded.

The company's website showcases its role as a manufacturer and supplier of industrial fasteners, speciality bolts, flanges, and machined components. They cater to industries like oil & gas, petrochemical, power generation, and construction, offering both standard and custom-made products. Canmec emphasizes precision engineering and rapid supply, operating through a network of high-quality subcontractors. The website also highlights their ISO 9001 accreditation and commitment to tailored solutions. They offer a wide range of finishes and specialize in non-standard components, including fasteners, flanges, and pipe fittings.

Financially, Canmec Limited presents a mixed picture. Cash bank on hand increased significantly by 33%, reaching £2,300,000, a positive sign of liquidity. However, trade debtors decreased by 13%, falling to £1,700,000, which could indicate slower customer payments. Director remuneration saw a substantial increase of 100%, reaching £34,000. Net assets also increased by 4.2%, reaching £4,300,000. Interestingly, accumulated depreciation on motor vehicles increased by 32%, suggesting investment in fleet vehicles. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the increase in director pay raises questions. No auditor is mentioned, likely due to the company’s exemption as a small entity, meaning the figures are unaudited.

Overall, Canmec appears to be financially stable, with a growing cash position. However, the increase in director pay and decrease in trade debtors warrant further observation. The company’s long history of importing and exporting iron and steel products, combined with its focus on custom manufacturing, suggests a resilient business model, but the financial details show some areas to keep an eye on.

Registered in England/Wales under the registration number 02132076, with a registered address at WV5 8AY, Wombourne, Staffordshire, Unit C Smestow Bridge Industrial Estate, Bridgnorth Road.

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