Onward Hire Ltd

Onward Hire Ltd, based in Walsall, UK, is a small, active company established fifteen years ago. With five employees and £156,132 in assets, it operates from a real address and is managed by one director and owner. Boasting a perfect 5.0 Google rating from three reviews, the company is an irregular importer, primarily dealing with machinery, boilers, and mechanical appliances; parts, with the latest import activity occurring two months ago in November 2024. The company operates in the activities of insurance agents and brokers industries.

The company’s website, accessible via Companies House, primarily serves as a resource for company information. It doesn't appear to be an e-commerce platform; instead, it provides details about the company's registration, directors, and financial reporting. Cookies are used for analytics, with options to accept or reject them. The site’s focus is on providing official company data, not selling products or services.

Financially, Onward Hire Ltd’s recent performance presents a mixed picture. Current assets have decreased by 20% to £160,000, while net assets have plummeted 110%, resulting in a negative balance of -£7,700. Cash reserves have virtually disappeared, falling 100% to just £220. Bank borrowings have increased, with a 40% rise in overdrafts. Creditors have also increased by 6.6%. The company’s small size (meeting two of three conditions for being small) helps it remain flexible, but the sharp decline in equity is concerning. The company is exempt from an audit, so the financial statements are unaudited.

While the company’s Google rating suggests positive customer experiences, the financial data reveals a company struggling. The decrease in cash reserves and the negative equity suggest the company is burning through money, and it's likely needing to rely on borrowing. Whether this is a temporary setback or a more fundamental issue remains to be seen.

Registered in England/Wales under the registration number 07159802, with a registered address at WS1 1XB, England, Walsall, 64 Lower Forster Street.

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