Logie Timber Limited

Logie Timber Ltd, based in Forres, UK, is a small, active company founded five years ago. With nine employees and £207,515 in assets, it’s a modest operation managed by four directors and two owners, boasting a stellar 5.0 Google rating from 23 reviews. The company regularly imports machinery, boilers, and mechanical appliances—parts, with 11 months of import activity recorded.

Logie Timber operates in the sawmilling and planing of wood industries, offering a range of timber products and related services. Its website highlights a focus on locally sourced Scottish timber, catering to craftsmen, builders, and DIY enthusiasts. The site also features a "knowledge hub" with guides and a cladding calculator, indicating an effort to educate and engage customers. There's even a Logie Timber Festival, suggesting a community-focused approach. The website also features a piano restoration venture, 1066 Pianos, which is interesting.

Financially, Logie Timber shows some concerning trends. Current assets have decreased by 17% to £210,000, and net assets have plummeted a staggering 1800%, landing at a negative £240,000. Bank borrowings have remained stable, but cash reserves have fallen significantly by 68%, down to £18,000. Creditors have increased by 15%, reaching £1.3 million, and trade debtors have fallen by 40%, to £69,000. The number of employees has risen by 56% to 14, which is interesting. As a small company, it meets two of three criteria for small business status (turnover under £10.2m, assets under £5.1m, fewer than 50 employees). The lack of an auditor mentioned suggests it’s exempt from an audit.

Overall, Logie Timber appears to be facing financial headwinds, despite its strong Google rating and community engagement efforts. The increase in employees and the rise in creditors suggest a possible expansion or increased operational costs, but the significant drop in equity raises concerns about its long-term sustainability. It's possible that the company is reinvesting heavily in its business, but the figures warrant close monitoring.

Registered in Scotland under the registration number SC658597, with a registered address at IV36 2QN, United Kingdom, Forres, Logie Estate Office, Dunphail.

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