Covered Buckles Limited

Covered Buckles Limited, based in Ilford, UK, is a small, active company founded 30 years ago in 1994. With four employees and £348,297 in assets, it’s a long-standing business operating from a real address. Two directors oversee the company, which is owned by Patel Ramesh, the solo founder. It holds a Google rating of 3.0 based on nine reviews and regularly imports goods, though the specific category remains unspecified, with 146 months of import activity recorded, the last in January 2025.

The company’s activities span manufacturing wearing apparel and accessories, wholesale trade, and retail sales via mail order and internet. It’s a small company, meeting two of three criteria: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. Its website is not available for review.

Financially, Covered Buckles Limited presents a mixed picture. While current assets increased slightly to £350,000, net assets significantly dropped to £110,000 – a decline of 45%. Bank borrowings are virtually zero, but trade debtors have risen sharply, suggesting potential payment delays. Creditors also increased, and cash reserves decreased, indicating a possible need to manage cash flow more closely. The company’s small size allows for agility, but the equity drop is concerning. The unaudited financial statements, without an auditor mentioned, rely on director-reported data.

The company’s financial data shows a significant decrease in retained earnings, which could be due to increased operating expenses or reduced profitability. It’s possible that the company is facing increased competition or changing market conditions. The decrease in cash reserves suggests that the company may need to explore options for securing additional financing or improving its working capital management.

Registered in England/Wales under the registration number 02932906, with a registered address at IG6 3HZ, England, Ilford, Essex, 181 Forest Road Upper Rear Floor, Behind Sn Auto.

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