Phace Contracts Ltd

Phace Contracts Ltd, based in Dungannon, UK, is a small, family-run company with an active status. Founded twenty years ago in 2005, it employs ten people and holds £461,300 in assets. With a real address and four directors, the business operates as an irregular importer of machinery, boilers, and mechanical appliances – parts, with the last import activity recorded two months ago in May 2022.

The company's core business involves construction of other civil engineering projects, operating within the industry. Its website, while not providing detailed e-commerce functionality, suggests a focus on contracting and plant hire. The site doesn't showcase online sales; instead, it serves as a basic informational platform.

Financially, Phace Contracts Ltd presents a mixed picture. Current assets have decreased by 29%, dropping to £460,000, while net assets have increased by 1.8% to £630,000. Bank borrowings have surged by 86%, reaching £58,000, and cash reserves have plummeted 86%, falling to £58,000. Trade debtors have increased by 140%, suggesting a possible shift in payment terms or increased sales on credit. Creditors have decreased by 68%, which could indicate improved debt management. The company meets two of three criteria to be considered small, with turnover under £10.2 million, assets under £5.1 million, and fewer than fifty employees. As a small company, it’s exempt from an audit, so the figures are unaudited.

The company’s reliance on irregular imports could be a vulnerability, and the drop in cash reserves warrants attention. However, the increase in net assets suggests underlying profitability, and the decrease in creditors is a positive sign. The family business structure likely fosters stability, but the company’s future depends on navigating the challenges of its import activities and maintaining financial health.

Registered in Northern Ireland under the registration number NI053818, with a registered address at BT70 3DA, Dungannon, County Tyrone, 45 Aghintober Road.

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