Formtech Machining Uk Limited

Formtech Machining Uk Limited, based in Nottingham, UK, is a large, active company founded five years ago. Employing 155 people, it holds £1,511,901 in assets and generates £2,339,042 in yearly revenue. Despite its size, it operates from a virtual address, registered with twenty-one other companies, raising some questions. The company is led by a solo founder, Hilmer Franz, who serves as both director and owner, and enjoys a perfect 5.0 Google rating based on one review. It’s an irregular importer, primarily bringing in machinery, boilers, and mechanical appliances, with its last import operation occurring one month ago.

Formtech Machining Uk Limited operates within the machining and other engineering activities industries. The company's website isn't available for review, so it’s difficult to determine if it's involved in e-commerce.

The company’s financial health presents a mixed picture. While turnover increased significantly, rising by 380%, the company is experiencing some financial challenges. Net assets decreased by 110%, and cash reserves fell 40% to £570,000. Bank borrowings increased by 97%, reaching £530,000. Creditors decreased by 35%, suggesting improved debt management. The company’s large size, meeting two of three criteria for a large company, means it’s subject to more stringent reporting requirements. The lack of an auditor mentioned suggests the company is exempt from an audit.

The significant increase in administrative expenses, dropping by 38%, could be a result of streamlining operations or a temporary reduction in costs. The decrease in average employees, falling by 50% to 78, is a notable trend that warrants further investigation. It’s possible that the company has automated processes or outsourced work to reduce labor costs. The increased cost of sales, rising by 42%, could be due to increased material costs or changes in pricing.

Registered in England/Wales under the registration number 12240975, with a registered address at NG13 9FG, England, Nottingham, Bridge House Old Grantham Road, Whatton.

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