Compass Lift Truck Services Limited

Compass Lift Truck Services Limited, based in Launceston, UK, is a small, active company with a real registered address and a trading status. Established in 2007, it employs twelve people and holds £970,000 in assets. The company’s core business revolves around the sales, servicing, and rental of forklifts and handling equipment, with a focus on serving businesses across Cornwall and Devon. Its website, compasslifttrucks.co.uk, showcases a wide range of new and used forklifts, parts, and service offerings, emphasizing reliability and customer support.

The company’s operations extend beyond sales, with a dedicated service division providing maintenance, repairs, and training. They also offer a rental fleet, catering to businesses with temporary or fluctuating handling needs. While the website doesn's explicitly mention any other ventures, the company's focus remains firmly on the forklift and material handling sector.

Financially, Compass Lift Truck Services Limited presents a mixed picture. Creditors decreased by 19%, suggesting improved debt management, and net assets increased by a modest 0.8% to £970,000. However, cash bank on hand fell by 3.8% to £340,000, and trade debtors increased by 27% to £300,000—potentially indicating challenges in collecting payments. The company's directors have been making advances and credits, with repayments increasing by 21% and 8.6% respectively. Despite these fluctuations, the company’s retained earnings accumulated losses increased by 0.8% to £970,000. As a small company, it’s exempt from an audit, and the financial statements are unaudited.

Overall, Compass Lift Truck Services Limited seems to be navigating a period of change. While it maintains a solid asset base and demonstrates some improvements in debt management, the increase in trade debtors and decrease in cash reserves warrants attention. The company’s reliance on its core forklift business, combined with the absence of any other significant ventures, means its financial health is closely tied to the demand for material handling equipment in its regional market.

Registered in England/Wales under the registration number 04824522, with a registered address at PL15 7EB, Pennygillam Industrial Estate, Launceston, 34a & B Compass Business Park, Pipers Close.

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