Penny To Penny Ltd

Penny To Penny Ltd from Ilford UK: small company, active status, founded 2 years ago, 1 employee, real address, 1 director, 1 owner, solo founder. It’s a small business, meeting two of three conditions to be classified as such: turnover less than £10.2 million, balance sheet total less than £5.1 million, and fewer than 50 employees. The company, established in March 2023, operates in the retail sale via mail order houses or via internet industries.

The company’s website, Selective Invoice Finance UK, offers a unique service: selective invoice finance, allowing businesses to cash in specific invoices quickly. It’s not a traditional factoring service; instead, it provides on-demand funding, buying 100% of invoices in as little as two hours. The site emphasizes speed, flexibility, and control, catering to sole traders and small businesses needing to improve their cash flow. It’s a modern, tech-driven approach to invoice financing, with a focus on realtime results and a no-obligation quote process. The website’s FAQ section addresses common concerns, explaining the advantages of selective invoice finance and differentiating it from traditional factoring. It’s clear the company is targeting businesses struggling with late payments and seeking a faster, more flexible funding solution.

Financially, Penny To Penny Ltd’s report shows a very small operation. Total assets less current liabilities are a mere £340, with retained earnings also at £340. Equity is split between £340 retained earnings, £1 share capital, and £340 total. The company’s net current assets and liabilities are both £340. While the figures aren't alarming, they do suggest a very lean business model. The fact that the company is audit exempt and has unaudited accounts is not unusual for a small business. It's likely that the single employee is also the director and owner, Raza Qasim, who appears to be driving the business forward. The company’s small size and solo founder status likely contribute to its agility, but the minimal financial reserves could be a concern if unexpected expenses arise.

Registered in England/Wales under the registration number 14754513, with a registered address at IG6 3SZ, England, Ilford, Essex, 58 Peregrine Road, Office 5828.

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