Malmic Lace Limited

Malmic Lace Ltd, based in Nottingham, UK, is a small, holding company with an active status. Established sixty years ago in 1964, the company employs eight people and holds assets valued at £159,535. It operates from a real address and is overseen by two directors and one owner. The business regularly imports and exports special woven and decorative fabrics—14 months of imports and 16 months of exports recorded—and is involved in the manufacture of other textiles.

The company’s website is non-existent, so it's difficult to determine if they operate an e-commerce site. However, the company’s description suggests a traditional business model focused on wholesale or trade rather than direct consumer sales.

Financially, Malmic Lace Ltd presents a mixed picture. Current assets have decreased by 23%, dropping to £160,000, while bank borrowings have increased by 2400%, reaching £29,000. Cash reserves have also declined by 5.3%, sitting at £97,000. Creditors have risen by 2%, reaching £760,000. The company’s small size—meeting two of three criteria for a small company—helps it remain flexible, but the drop in equity and the rise in borrowings are concerning. The lack of an auditor mentioned suggests the company is exempt, relying on unaudited financial statements. The company’s net assets are at -£600,000, which is a big drop.

The decline in assets and increase in debt could be attributed to several factors, such as rising material costs, increased competition, or changes in customer demand. It’s also possible that the company is investing in new equipment or expanding its operations, which would require additional borrowing.

Registered in England/Wales under the registration number 00819475, with a registered address at NG6 8NG, United Kingdom, Nottingham, Nottinghamshire, Unit 5 Greasley Street.

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