Driftworks Ltd

Driftworks Ltd from Birmingham UK: a small, active company founded 20 years ago, employs 18 people, and holds £577,482 in assets. With a real address and three directors overseeing operations, the company is owned by Morrison Philip John and Robinson James. It’s a regular importer and exporter, bringing in and shipping out vehicles, parts, and accessories (excluding trains and trams) – 471 months of import activity and 454 months of export activity recorded.

The company's website is not available for review, so it's difficult to determine the exact nature of their online presence. However, their business seems to be focused on wholesale and retail trade of motor vehicle parts and accessories, and even retail sale of clothing.

Financially, Driftworks Ltd presents a mixed picture. While net assets increased by 18% to £580,000, current assets saw a slight decrease of 2.5% to £580,000. Bank borrowings increased, reaching £450, and cash reserves rose by 11% to £51,000. Creditors also increased by 3%, and trade debtors decreased by 21%. 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 flexibility, but the increase in bank borrowings suggests a need for careful cash flow management. No auditor is mentioned, indicating exemption as a small company and reliance on unaudited statements.

The increase in bank borrowings and decrease in trade debtors could be due to increased investment in inventory or expansion of credit terms to customers. The company's focus on importing and exporting suggests a global supply chain, which may be subject to fluctuations in exchange rates and shipping costs.

Registered in England/Wales under the registration number 05278259, with a registered address at B11 2LQ, Birmingham, Unit 7 Tyseley Industrial Estate, Seeleys Road, Tyseley.

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