Foremost Magnets Limited

Foremost Magnets Limited is a small, active company based in Banbury, UK, established nineteen years ago in 2006. With eleven employees and £488,144 in assets, it operates from a real address at Unit 9a Vantage Business Park. The company is led by a single director and owner, Woodcock Lee Michael, who is also the solo founder. It’s an irregular importer, primarily bringing in miscellaneous manufactured goods, with the last import operation recorded in June 2024.

The company operates in the “other manufacturing n.e.c.” industries. Its website isn’t currently available, so it’s difficult to assess its online presence or e-commerce activities.

Financially, Foremost Magnets Limited shows a mixed picture. Current assets decreased by 8.6% to £490,000, while net assets increased by 15% to £1.2 million. Bank borrowings decreased by 17%, reaching £110,000, and cash reserves fell 27% to £180,000. Creditors increased by 49%, suggesting a need to manage debts. The company’s small size—meeting two of three criteria for a small company—helps it remain flexible. Despite this, the rise in creditors and drop in cash reserves could indicate a need to monitor cash flow closely.

The company’s net losses deepened from -£10,000 to -£23,000, while trade debtors ballooned by 890%, suggesting delayed customer payments or expanded credit terms, and creditors rose 35% to £34,000. The lack of employees (zero reported) hints at a lean, possibly solo operation.

The company’s financial statements were prepared by Clement Rabjohns Limited, and are unaudited, as is typical for small companies.

Registered in England/Wales under the registration number 05711212, with a registered address at OX16 9UX, England, Banbury, Unit 9a Vantage Business Park, Bloxham Road.

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