Formwise Washrooms Ltd

Formwise Washrooms Ltd, based in Wellingborough, UK, is a small, active company founded 17 years ago. With 34 employees and £2,630,981 in assets, it's a well-established player in the washroom manufacturing sector. The company boasts a 5.0 Google rating from six reviews and has four directors and one owner, Nathan Brad. It regularly imports miscellaneous metal items, with its last import operation made on August 01, 2024.

The company specializes in the design, manufacture, and installation of washroom solutions, including toilet and shower cubicles, changing room lockers, and vanity units. Its website highlights a design tool enabling customers to customize their washrooms, showcasing a range of products like Prism glass cubicles and Petrus Tall systems. It's clear they’re targeting commercial and industrial clients, offering durable and complete solutions. The website also mentions a focus on quick and efficient service thanks to its factory's industry machinery.

Financially, Formwise Washrooms Ltd presents a mixed picture. While net assets increased by a significant 46% to £1,700,000, and cash reserves jumped 100% to £790,000, there are some concerning trends. Bank borrowings decreased substantially, dropping 70% to £12,000, which is a positive sign. However, trade debtors remained steady, and creditors decreased by 9.2%. The company’s size – meeting two of three conditions for a small company – allows for agility, but the increase in future minimum lease payments by 510% to £1.5 million is a notable item. The company’s unaudited accounts, prepared by CCH Software, rely on director-reported data.

Overall, Formwise Washrooms Ltd appears to be a stable, if somewhat lean, operation. The increase in assets and cash reserves suggests growth, but the rising lease payments and lack of auditor oversight warrant further monitoring.

Registered in England/Wales under the registration number 06576673, with a registered address at NN8 6BA, Wellingborough, Northants, Unit 3 Wendel Point, Ryle Drive.

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