Freight Meter Ltd

Freight Meter Ltd, based in Hounslow, UK, is a small, active company founded four years ago. With seven employees and £471,739 in assets, it operates from a real address and is led by two directors and a solo founder. The company is irregularly importing and exporting electrical machinery and equipment, with recent activity recorded in December 1st, 2023.

The business appears to focus on warehousing and storage facilities for air transport activities, and other transportation support activities. It’s a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50. The company’s website is currently unavailable, so it’s difficult to determine if it operates an e-commerce site.

Financially, Freight Meter Ltd presents a mixed picture. Cash bank on hand has significantly dropped by 84%, falling to just £4,900. Creditors have increased dramatically, rising by 850% to £92,000 within one year, while trade debtors have also increased by 11%. Despite this, net assets have increased by 17%, reaching £96,000. Fixed assets have seen a substantial rise of 510%, indicating investment in equipment or property. It’s worth noting that the company’s retained earnings and accumulated losses have also increased. The lack of an auditor mentioned suggests the company is exempt as a small business, relying on unaudited financial statements.

While the company’s assets have increased slightly, the sharp decrease in cash reserves and the rise in creditors suggest it might be burning through money. The increase in fixed assets could be a sign of expansion, or it could be due to depreciation. The directors, Faisal Naveed and Afzal Muhammad Waqar, will need to carefully manage these trends to ensure the company’s long-term financial health.

Registered in England/Wales under the registration number 12940304, with a registered address at TW5 0LD, England, Hounslow, 19 Church Road, Heston Industrial Mall.

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