Cannon Freight Ltd

Cannon Freight Ltd is a small, active company based in Wolverhampton, UK, founded twelve years ago in 2013. With three employees and £62,550 in assets, it’s a modest operation overseen by two directors and one owner. The company is a irregular importer, primarily dealing in miscellaneous manufactured goods, with its last import activity recorded over two years ago in July 2021. It operates in the sea and coastal freight water transport industries.

The company’s website, iancannonfreight.co.uk, showcases its services as a “reliable freight partner,” offering air, sea, and road freight, along with insurance and packing services. It highlights its membership in BIFA and FSB, emphasizing its commitment to quality and customer service. The site also mentions storage container sales and hire, suggesting a diversification of revenue streams. It has a perfect 5.0 Google rating from 12 reviews.

Financially, Cannon Freight Ltd presents a mixed picture. Accumulated depreciation increased significantly by 310%, reaching £7,300, while the number of employees decreased by 33% to just two. Bank borrowings decreased by 8.7% to £39,000, and cash reserves vanished entirely. Creditors increased by 15% to £260,000, and trade debtors jumped by 64% to £63,000. Equity also declined by 18% to £96,000. The company’s small size—meeting two of three conditions for a small company—helps it remain flexible, but the decrease in equity and cash reserves is concerning. There is no auditor mentioned, likely due to its small size.

Overall, Cannon Freight Ltd appears to be navigating a challenging period. While its website projects a professional image and its services seem well-defined, the financial data suggests it's burning through cash. Whether it can sustain its operations and capitalize on its established network remains to be seen.

Registered in England/Wales under the registration number 08432081, with a registered address at WV5 9HR, Wolverhampton, 7 Cannon Road, Wombourne.

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