Magnet & Steel Ltd

Magnet & Steel Ltd, based in Cowbridge, UK, is a small, active company established eighteen years ago. With ten employees and £2,574,609 in assets, it’s a well-established player in its sector. The company, owned by Cartledge Philip Vincent, has five directors, and operates from a real address at Unit 6 Vale Business Park. It’s a regular importer of printed materials like books, newspapers, and pictures (35 months of activity), and a regular exporter of furniture, lighting, and prefabricated buildings (32 months of activity).

The company’s website, Magnet Steel Ltd, focuses on retail, specifically personal protective equipment (PPE) and site supplies. It boasts a perfect 5.0 Google rating from eight reviews, showcasing a commitment to customer satisfaction. The site emphasizes competitive pricing and a 30-day return policy, hallmarks of a modern e-commerce business. It's clear they're trying to build a strong online presence, with blog content reinforcing their expertise in safety solutions.

However, a look at the financials reveals some concerning trends. Cash reserves have fallen by 53%, dropping to £300,000, while bank borrowings have increased significantly by 31%, reaching £160,000. Trade debtors have ballooned by 28%, suggesting potential issues with customer payments. Although creditors decreased by 22%, it’s not enough to offset the other negative indicators. 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 decline in equity and cash is a cause for concern. With no auditor mentioned, the figures are unaudited, relying on director-reported data.

In conclusion, Magnet & Steel Ltd appears to be facing financial pressures despite its strong online reputation. The company’s ability to navigate these challenges will likely depend on its ability to manage its debtors and control its borrowing.

Registered in England/Wales under the registration number 05836433, with a registered address at CF71 7PF, Cowbridge, South Glamorgan, Unit 6 Vale Business Park, Llandow.

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