Palmtex Ltd

Palmtex Ltd is a small, active company based in London, UK, founded three years ago. It’s a solo founder operation with one employee and £2,645 in assets, operating from a real address shared by six other companies. The company is led by a single director and owner, Bacaci Volkan.

Palmtex Ltd’s website suggests a focus on design services for digital and rotary screen printing, alongside pattern collections. It appears to offer services like colour separation and price quotes, but a visible error message indicates issues with the Instagram feed—a common problem for smaller e-commerce sites. The site lists several activities, including wholesale trade, retail via internet, management consultancy, and specialised design activities.

Financially, Palmtex Ltd’s numbers paint a concerning picture. Current assets have plummeted by a staggering 65%, dropping to just £2,600. Cash bank on hand has also experienced a significant decline of 50%, falling to £1,800. While creditors have decreased, the sharp drop in assets and cash reserves suggests the company is burning through money. Equity, however, has seen a dramatic increase of 750%, reaching £590—likely due to retained earnings. Trade debtors remain steady, but the overall trend indicates financial strain. The company’s small size (meeting two of three criteria for a small company) means it’s likely exempt from an audit, and the figures are unaudited.

The company's reliance on a single founder and a small amount of assets, combined with the financial losses, suggest it’s in a precarious position. While the design services offer potential, the company needs to address its cash flow issues to ensure its long-term survival.

Registered in England/Wales under the registration number 13584948, with a registered address at N15 5EA, England, London, C/O Dirench & Co, 151 West Green Road, Seven Sisters.

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