Grovewood Machines Limited

Grovewood Machines Ltd, based in Portsmouth, UK, is a small, active company founded thirteen years ago in 2012. With a single employee and £211,163 in assets, it operates from a virtual address – a point to note as fifty-one companies are registered at the same location. The business is run by two directors and owned by Groves Nicholas John. It’s a regular importer of machinery, boilers, and mechanical appliances, parts, with the latest import occurring in October 2024, but an irregular exporter, with the last export recorded in June 2022.

The company’s website showcases a leading supplier of new and used woodworking machines, offering a wide range of products from edgebanders to spindle moulders. It's clearly an e-commerce operation, with detailed product listings, brands like Robland and Casadei, and a focus on competitive pricing. They even offer moving and handling products, servicing, and factory relocation services, suggesting a broader scope beyond just online sales.

Financially, Grovewood Machines Ltd presents a mixed picture. Cash bank on hand has significantly decreased by 57%, dropping to £25,000, while creditors have risen by 40% to £87,000. Trade debtors have also increased considerably, by 66%, reaching £150,000. Despite this, net assets have increased slightly, by 5.9%, to £200,000. The company meets the criteria for a small business, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. As a small company, it’s exempt from an audit, so the financial statements are unaudited.

The company's increased debt and decreased cash reserves could indicate a period of investment or expansion, although it’s also possible that delayed payments from customers are contributing to the situation. It’s a company that seems to be holding its own in a specialized market, but the financial data suggests it needs to monitor its cash flow carefully.

Registered in England/Wales under the registration number 07912046, with a registered address at PO6 3EB, Portsmouth, Hampshire, 4 Spur Road, Cosham.

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