Performance Finance Limited

Performance Finance Ltd, based in Kettering, UK, is a small, active company founded 22 years ago. With fourteen employees and £38.4 million in assets, it’s a well-established player, boasting a perfect 5.0 Google rating from 22 reviews. The company is led by a solo founder, with three directors overseeing operations. It has a real address and is a regular importer of optical and medical tools and devices, though its import activity is somewhat irregular, with just one month of imports recorded.

The company’s website paints a picture of a specialist finance provider. Performance Finance focuses on lending and broking services for professionals, including opticians, dentists, solicitors, accountants, vets, doctors, and GPs. It offers a range of funding options, from lease and business loans to personal and tax loans, catering to both new startups and established businesses. The site highlights competitive rates, fast approvals, and a team of knowledgeable account managers. It also provides services for asset finance and even offers a client area and supplier area.

Financially, Performance Finance Ltd shows some concerning trends. Accrued liabilities and deferred income increased by 28%, while bank borrowings surged by a significant 48%, reaching £14 million. Cash bank on hand, however, decreased by 33%, dropping to £530,000. Trade debtors increased by 31%, suggesting a potential issue with customer payments. Despite these challenges, net assets grew by 21%, reaching £5.1 million, and the company’s retained earnings accumulated losses increased by 38%. The company's small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay agile, but the increased borrowing and decreased cash reserves warrant close attention. The accounts are unaudited, and no auditor is mentioned, which is common for small companies.

Overall, Performance Finance Ltd appears to be a well-regarded specialist finance provider, but the recent financial data suggests it may be burning through cash. The company’s success will likely depend on its ability to manage its debt and maintain its reputation for excellent service.

Registered in England/Wales under the registration number 04725729, with a registered address at NN15 6PE, England, Kettering, Northamptonshire, First Floor, Orion House, Orion Way.

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