Formtech Composite Limited

Formtech Composite Ltd, based in Abingdon, UK, is a small, active company founded seventeen years ago. With twelve employees and £1,398,127 in assets, it’s a modest operation led by a solo founder who also serves as director and owner. The company has a real address and operates as an irregular importer of treated or layered fabrics for industrial use, with the last import occurring in April 2024. It’s a regular exporter, though it hasn’t exported anything in the last three months.

Formtech Composite Ltd operates within the "other professional, scientific and technical activities n.e.c." industries, providing services that aren’t easily categorized. There's no mention of a website or e-commerce presence, suggesting a business-to-business model rather than direct consumer sales.

The company’s financial health presents a mixed picture. While cash reserves increased significantly by 520%, reaching £780,000, other indicators suggest potential pressures. Net assets grew by 19%, reaching £890,000, but accumulated depreciation impairment on plant and machinery increased by 20%, indicating aging equipment. Bank borrowings, however, decreased significantly by -92%, which is a positive sign. Trade debtors also decreased by 54%, suggesting improved collection of payments. Creditors decreased by 8.4%, which could indicate better debt management.

The company meets the criteria to be considered a small company, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The lack of an auditor mentioned is likely due to its small size, meaning the financial statements are unaudited. The increase in cash reserves is encouraging, but the rise in depreciation and the decrease in debtors warrant closer monitoring. It’s possible the company is investing in new equipment or facing challenges in securing new business.

Registered in England/Wales under the registration number 06545810, with a registered address at OX14 4SD, Abingdon, Oxfordshire, 176a Brook Drive, Milton Park, Milton.

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