Permag Limited

Permag Ltd from Larkhall, UK, is a small, family-run business with an active status, celebrating 43 years in operation. Founded in 1982, the company employs 12 people and holds assets valued at £862,371. It has a real registered address, is overseen by six directors, and is owned by two individuals. Permag Ltd regularly imports electrical machinery and equipment, with a history of 10 months of import activity, and has exported "None" for 15 months.

The company specializes in the manufacture and supply of strip-wound magnetic cores, a niche area within the transformer industry. Its website details a focus on flexible service, small batch orders, and technical assistance. They cater to a wide range of customers, offering various grades and gauges of silicone iron, and even providing custom dimensions and finishes. The company also boasts BS EN ISO 9001:2015 registration, demonstrating a commitment to quality management. It’s clear that Permag Ltd is focused on providing specialized products and services to a specific industrial market.

Financially, Permag Ltd shows a mixed picture. Current assets increased by 11% to £860,000, while net assets grew by 3% to £910,000. Bank borrowings decreased by 66% to £1,000, and cash reserves increased by 290% to £330,000. Trade debtors decreased by 32%, suggesting improved collection practices. However, creditors rose by 140%, which could indicate increased supplier payments. The company meets the criteria to be classified as a small company, with a turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. As a small company, it is exempt from an audit, and the figures are unaudited.

Overall, Permag Ltd appears to be in a reasonably healthy position, with growing assets and strong cash reserves. The increase in creditors should be monitored, but the company’s long history, specialized focus, and commitment to quality suggest a stable and sustainable business.

Registered in Scotland under the registration number SC077253, with a registered address at ML9 2PJ, Larkhall, Baird Avenue, Strutherhill Industrial Estate.

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