Klassic Wholesale Ltd

Klassic Wholesale Ltd from Greenford UK: a small, active company founded seven years ago, employs twelve people, and operates from a real address. It’s a solo-founded business with one director and owner, running an e-commerce site and holding a stellar 5.0 Google rating from twelve reviews. The company is an irregular importer, primarily dealing in various textile products, sets, used clothing, and rags, with just one month of import activity recorded as of September 2020.

The company’s website details its wholesale operations, focusing on household goods (other than musical instruments). It’s a tight-knit operation, and the business operates in the wholesale of household goods (other than musical instruments) n.e.c. industries.

Financially, Klassic Wholesale Ltd shows a mixed bag. Cash bank on hand increased by 21% to £230,000, while creditors jumped by 40% to £370,000. Trade debtors have increased significantly, by 130%, reaching £260,000. Equity, however, remained steady at £100. Property, plant, and equipment increased by 150% to £36,000, likely reflecting investment in commercial motor vehicles. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the rise in creditors warrants a closer look. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

The company’s rental expense, amounting to £54,000, is payable to Klassic Paper company Ltd, whose directors and shareholders are the same as for Klassic Wholesale Ltd. This suggests a possible related-party transaction that could be impacting the company’s financial performance.

Registered in England/Wales under the registration number 10944666, with a registered address at UB6 8WA, United Kingdom, Greenford, 3a Kelvin Industrial Estate, Long Drive.

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