Independent Forgings & Alloys Limited

Independent Forgings & Alloys Ltd, based in Sheffield, UK, is a large, active company holding a prominent position in the forging industry. Established 24 years ago in December 2000, it employs 223 people and boasts assets totaling £31,531,968. With a real address and five directors overseeing operations, the company is a significant player in the region. It’s a holding company, owned by Ifa Metals International Ltd. Google reviews give it a stellar 5.0 rating based on 13 reviews.

The company specializes in forging, pressing, stamping, and roll-forming of metal, as well as powder metallurgy. Its website details a comprehensive range of capabilities, from open-die radial forging to closed-die hydraulic press forging, catering to industries like aerospace, military, defence, and oil & gas. It’s unique in possessing a single-site forge with a wide array of processes, offering a fully integrated metals service centre.

Financially, Independent Forgings & Alloys Ltd shows a mixed picture. While revenue increased by a substantial 20% to £33 million, net assets grew by 38% to £22 million. However, cash reserves decreased by a significant 93% to just £60,000. Bank borrowings surged by 52% to £3.1 million, and net losses deepened to £7.8 million. Creditors decreased by 14%, suggesting improved debt management, but the sharp drop in cash and increase in borrowings are concerning. The company’s large size (meeting two of three criteria for a large company) means it's likely subject to more scrutiny. The audit firm, BHP LLP, conducted the audit.

The company is a regular importer, bringing in various base metals and cermets for 45 months, and a regular exporter of nickel and nickel products for 104 months. The decrease in cash reserves, despite increased revenue, suggests potential challenges in managing working capital or increased investment in operations. The company’s continued growth and strong customer approvals, however, point to a resilient business model.

Registered in England/Wales under the registration number 04122236, with a registered address at S6 2BL, Sheffield, South Yorkshire, Victoria Forge, Livesey Street.

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