Phone Gadget Limited

Phone Gadget Limited, based in Ilford, UK, is a small, active company established ten years ago in December 2014. With 23 employees and £824,699 in assets, it operates from a real address and is overseen by one director and one owner. The company specializes in retail sales via mail order and internet, alongside the repair of consumer electronics.

The company's website, while not fully fleshed out, suggests a focus on consumer electronics sales and repair services. It's likely an e-commerce operation, though further details aren't readily available.

Financially, Phone Gadget Limited presents a mixed picture. While its assets remain relatively stable, there's a noticeable decline in key areas. Average employees increased by 22%, which is a good sign, but cash bank on hand dropped significantly by 74%, leaving just £29,000. Bank borrowings increased by 5.5% to £220,000, and creditors rose by 5.5% to £220,000, suggesting a reliance on credit. A more concerning trend is the 20% drop in equity, falling to £370,000. Trade debtors also experienced a sharp decline of 51%, which could indicate difficulties in collecting payments. The company meets the criteria to be classified as small, with a turnover likely under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The lack of an auditor mentioned is typical for small companies.

Overall, Phone Gadget Limited appears to be navigating a challenging period. While its core business seems to be ongoing, the decline in equity and cash reserves warrants attention. The increased reliance on borrowing could indicate a need to manage expenses more carefully, or perhaps a strategic investment in growth. It’s likely the company is trying to grow, but it's important to keep a close eye on its financial health.

Registered in England/Wales under the registration number 09367497, with a registered address at IG1 4NH, United Kingdom, Ilford, Essex, 1st Floor Wellesley House 98 - 102, Cranbrook Road.

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