Newcastle Drums Limited

Newcastle Drums Ltd, based in Washington, UK, is a small, active company established ten years ago. With seven employees and £306,175 in assets, it’s a modest operation managed by a single director and owner. The company regularly imports musical instruments and parts—17 months of activity recorded, with the latest in June 2023—but exports irregularly, with just one month of activity in August 2022. It operates in the other retail sale in non-specialised stores industries.

The company’s website isn’s available, so it’s difficult to assess its online presence or e-commerce strategy. Without a website, it’s likely Newcastle Drums Ltd focuses on direct sales, perhaps to music stores or individual customers, or operates through other channels.

Financially, Newcastle Drums Ltd presents a mixed picture. Accumulated depreciation increased by 15%, suggesting ongoing investment in equipment, while advances to directors rose by 45%, which could indicate funding or operational needs. Bank borrowings remained stable, and cash on hand increased by 3.6%. However, creditors increased significantly—by 44%—and net assets declined by 120%, a substantial drop. Trade debtors decreased by 33%, which could be a positive sign of improved collections, but the overall decrease in equity is concerning. The company meets two of three criteria to be considered small, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. The lack of an auditor mentioned suggests it’s exempt as a small company.

The company’s financial data indicates it’s facing some challenges. While it maintains a steady import business, the decline in net assets and increased creditors suggests it’s burning through money. The increase in advances to directors might be a temporary solution, but it’s not a sustainable long-term strategy. The lack of employees reported (only 7) suggests a lean operation, but it also limits its ability to scale. The company’s success will depend on its ability to manage its finances and find ways to increase profitability.

Registered in England/Wales under the registration number 09245558, with a registered address at NE37 2SF, England, Washington, Tyne & Wear, Unit 11 Industrial Road, Hertburn.

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