Penn Industries Ltd

Penn Industries Ltd is a small, active company based in Brierley Hill, UK, founded four years ago in October 2020. With just one employee and £1,780 in assets, it operates in the retail sale via mail order houses or via internet industries. The company has a real address at Unit 10 Silver End Business Park, and is overseen by two directors, with Penn Andrew listed as the sole owner.

The company's website, though not provided, suggests a focus on online retail. It's likely an e-commerce operation, selling goods directly to consumers through an online store. Given the limited information, it's difficult to determine the specific products or services offered beyond the broad category of retail sales.

Financially, Penn Industries Ltd presents a picture of a very small business navigating early-stage challenges. Current assets have increased significantly, jumping 280% to £1,800. However, net assets are in negative territory, dropping 93% to -£32. Bank borrowings increased by 120% to £1,800, and cash reserves fell by 80% to just £4. Creditors also increased by 100% to £1,700. The company's small size (meeting two of three criteria for a small company) helps with agility, but the negative equity is concerning. The accounts are unaudited, relying on director-reported data.

It appears Penn Industries Ltd is burning through cash, likely a common occurrence for startups. The increase in creditors suggests the company may be relying on short-term financing to cover expenses. Whether this is a temporary situation or a longer-term trend remains to be seen, but the company will need to focus on improving its profitability and managing its cash flow to ensure its survival.

Registered in England/Wales under the registration number 12968559, with a registered address at DY5 3LG, England, Brierley Hill, West Midlands, Unit 10 Silver End Business Park.

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