Network Steels Ltd

Network Steels Ltd, based in Coatbridge, UK, is a small, active family business founded thirteen years ago in 2012. With five employees and £557,747 in assets, it operates from a real address in Glenboig. Two directors and two owners manage the company, which has been importing iron or steel products regularly for the last twenty months. It also exports machinery, boilers, and mechanical appliances, though less frequently, with just two months of export activity recorded.

The company’s website, Network Steels, highlights its focus on “Shaped Forgings, Rings, Bars,” and notes a transition from MaterialProcurement.com. It suggests a focus on metal fabrication and supply, catering to industrial clients. The site implies a business that is changing and adapting to new opportunities.

Financially, Network Steels Ltd presents a mixed picture. While cash reserves grew by 7%, bank borrowings decreased by 14%, and net current assets increased by 42%, other key metrics show concerning trends. Accumulated depreciation on plant machinery increased significantly by 16%, and the company’s other taxation and social security payable increased by a staggering 230%. Trade debtors rose by 14%, which could indicate difficulties in collecting payments. 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 flexibility, but the rise in depreciation and tax liabilities suggests potential cost pressures. With no auditor mentioned, the figures are unaudited.

Overall, Network Steels Ltd seems to be navigating a period of change, with a focus on adapting to new markets and managing costs effectively. The company’s long history of importing and occasional exporting, combined with its family-run structure, suggests a resilient business, but the financial data indicates a need for careful management to ensure long-term stability.

Registered in Scotland under the registration number SC419881, with a registered address at ML5 2QT, Scotland, Coatbridge, 31 Main Street Glenboig.

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