Joseph Garratt Limited

Joseph Garratt Limited, based in Wrexham, UK, is a small, active family business established ten years ago. With just two employees and two directors, the company operates as a private limited company with a real registered address. It’s been running since October 20, 2014, and boasts two owners, though the list of owners may not be exhaustive.

The business primarily engages in retail sales via mail order houses or the internet. While it's not immediately obvious, a quick look reveals that Joseph Garratt Limited also operates an online store, likely serving as the main channel for its sales. It's a small operation, meeting two of the three criteria to be classified as such: turnover under £10.2 million, balance sheet total under £5.1 million, and fewer than 50 employees.

Financially, Joseph Garratt Limited’s recent report paints a mixed picture. Current assets are reported as zero, and net assets are a negative £26,000 – a significant loss. Cash on hand is also zero, and creditors remain steady at £26,000. The company’s retained earnings and accumulated losses are also negative. While the company is using the "Financial Reporting Standard 102" and has been prepared in accordance with the provisions applicable to companies subject to the small companies regime, the lack of positive cash flow and negative equity suggest it’s operating on a tight budget. The accounts are abridged and unaudited, and no auditor is mentioned, which is typical for small companies.

It’s clear that Joseph Garratt Limited is facing financial challenges, although it’s not necessarily a sign of imminent collapse. The company’s small size and family ownership likely allow for flexibility, but the negative equity and lack of cash reserves will need to be addressed.

Registered in England/Wales under the registration number 09272242, with a registered address at LL11 3YW, Wrexham, Clwyd, Kolossi Pen Y Palmant Road, Minera.

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