Formatt Limited

Formatt Ltd from Altrincham UK: a small holding company with an active status, was founded 27 years ago in 1998. The company employs 19 people and holds £1,781,608 in assets. It has a real address, three directors, and one owner, boasting a Google rating of 4.0 based on three reviews. Formatt Ltd is a regular importer of clothing and accessories made by knitting or crocheting, with 506 months of import activity recorded.

The company operates as agents involved in the sale of textiles, clothing, fur, footwear, and leather goods. While no website is available, this suggests a business-to-business model rather than direct consumer sales. It's likely that Formatt Ltd sources goods and distributes them to retailers or other businesses.

Financially, Formatt Ltd presents a mixed picture. Current assets increased by 15% to £1,800,000, but net assets decreased by 2.6% to £730,000. Bank borrowings increased significantly by 5700% to £220,000, while cash reserves dropped by 53% to £120,000. Creditors rose by 31% to £1,100,000, and trade debtors increased by 29% to £1,700,000. 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 and decrease in cash reserves suggest potential cash flow pressures. The lack of an auditor mentioned (likely exempt as a small company) means the figures are unaudited.

The significant increase in bank borrowings, despite rising trade debtors, could indicate a need for working capital to support import activities. It's possible that Formatt Ltd is expanding its operations or facing increased competition, leading to higher borrowing costs. The decrease in cash reserves, combined with the rise in creditors, suggests the company is managing its finances carefully, but it could be vulnerable to unexpected expenses. The directors, Mr. C. J. Westbrook, Mr. C. J. Westbrook, and Mr. M. Q. Hughes, will need to closely monitor these trends to ensure the company's long-term financial health.

Registered in England/Wales under the registration number 03569752, with a registered address at WA15 9HW, England, Altrincham, 91 Hale Road, Hale.

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