Hanover Flooring Limited

Hanover Flooring Limited, based in Keighley, UK, is a large holding company with an active status, established 29 years ago. The company employs 18 people and holds £12,080,968 in assets, generating a yearly revenue of £20,202,255. It has a real address and is overseen by one director and two owners, boasting a perfect 5.0 Google rating from just two reviews. The company regularly imports and exports carpets and textile floor coverings, with 56 months of import activity and 39 months of export activity recorded.

The company operates in the wholesale of furniture, carpets, and lighting equipment industries. It’s a holding company, owning Hanover Carpets Limited. Previous names include Carpet Line Direct Limited and Melrose Carpets Limited. The company’s website doesn’s provide much detail, it seems to be a wholesale operation rather than an e-commerce site.

Financially, Hanover Flooring Limited shows some concerning trends. Current assets have decreased by 8.4%, dropping to £12,000,000. Bank borrowings have increased significantly, by 34%, reaching £620,000. Creditors have also risen by 9.4%, reaching £14,000,000. However, the company’s net assets have plummeted by 990%, falling to -£6,300,000. This substantial decrease in equity, coupled with the increase in borrowings, suggests the company is burning through cash. The company’s small number of directors and owners, and the lack of an auditor mentioned, likely means the figures are unaudited. Despite meeting two of three criteria for a large company—turnover more than £36 million, balance sheet total more than £18 million, average number of employees more than 250—the company’s financial health appears precarious. It’s likely that the company is facing challenges in maintaining profitability, and the significant drop in equity is a cause for concern.

Registered in England/Wales under the registration number 03120403, with a registered address at BD21 4BZ, England, Keighley, C/O Walkers Accountants Ltd Aireside House, Royd Ings Avenue.

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