North East Panels Limited

North East Panels Limited, based in Washington, UK, is a small, holding company with an active status. Founded eighteen years ago in 2006, the company employs eighty-five people and holds £1,806,534 in assets. With three directors and three owners, it operates from a real address and is registered with Companies House. The company irregularly imports glass and glassware (two months of imports, last in June 2024) and exports plastics and plastic products (one month of exports, last in July 2022).

The company’s website, northeastpanels.co.uk, showcases a range of products and services, including brochures and stock offerings. It appears to be primarily a B2B operation, focused on supplying panels and related products, with no obvious e-commerce functionality for direct consumer sales. The site’s structure suggests a focus on providing technical information and facilitating inquiries rather than driving online orders.

Financially, North East Panels Limited presents a mixed picture. Current assets have decreased by 23%, dropping to £1,800,000, while net assets have plummeted 47%, settling at £890,000. Cash reserves have also taken a hit, falling 49% to £380,000. Trade debtors have seen a significant decline, decreasing by 26% to £930,000, which could indicate improved collection efforts. However, creditors have increased by 11%, reaching £810,000, and bank borrowings are up 2400% to £29,000. 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 drop in equity raises concerns. The unaudited figures, without an auditor mentioned, rely on director-reported data.

The decrease in the number of employees from 85 to 74 is noticeable, potentially reflecting cost-cutting measures or changes in operational needs. While the company operates in the manufacture of other plastic products, the financial data suggests it’s facing challenges in maintaining profitability and managing its liabilities.

Registered in England/Wales under the registration number 06031204, with a registered address at NE38 8QB, Pattinson South Industrial, Estate, Washington, Units 3 & 4, Pinewood Business Park Wilden Rd.

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