Gannon Oils Ltd.

Gannon Oils Ltd from Poulton Le Fylde UK: a small, active company founded 27 years ago, employs eight people, and holds £502,008 in assets. It’s a family business with two directors and two owners, operating from a real address. The company regularly imports mineral fuels, oils, and related products (for six months) and exports soaps, cleaning products, and waxes (for 31 months).

The company operates in the treatment of petroleum products and wholesale of petroleum and petroleum products, and its website, while not detailed, suggests a focus on oils and lubricants. 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.

Financially, Gannon Oils Ltd shows some concerning trends. Current assets have dropped by 21% to £500,000, while net assets have decreased by 19% to £190,000. Bank borrowings have fallen by 40% to £24,000, and cash reserves have disappeared entirely. Creditors have also decreased by 20% to £340,000. Trade debtors have fallen by a significant 38% to £150,000. The company’s retained earnings have increased by 7% to £180,000. It's worth noting that the company’s financial statements are unaudited, as it is exempt as a small company.

These figures suggest the company is struggling to maintain its assets and cash flow. The decrease in debtors could be a positive sign of improved collection practices, but the complete disappearance of cash reserves is a serious concern. The increase in retained earnings is a small positive, but it doesn’t offset the overall negative trend.

Registered in England/Wales under the registration number 03536139, with a registered address at FY6 8JX, Poulton Le Fylde, Lancashire, 6 Sovereign Court, Poulton Business Park.

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