Practical Minds Limited

Practical Minds Ltd, based in Kegworth, UK, is a small holding company with an active status, having been established 18 years ago. The company employs 31 people and holds assets worth £1,329,451. It has four directors and one owner, operating from a real address and registered with three other companies. While it’s an irregular importer of cotton products (just one month of imports recorded in 2022), it’s a regular exporter of furniture, lighting, and prefabricated buildings (four months of exports, most recently in June 2024).

The company’s website highlights its expertise in retail and commercial interiors, working with brands like Harrods and Selfridges. It doesn's appear to be a direct e-commerce operation, but rather a service provider—crafting bespoke interiors for retail spaces and commercial clients. Testimonials from satisfied clients praise Practical Minds' flexibility, professionalism, and ability to deliver high-quality work quickly. They have a can-do attitude and excellent communication, which is a big thank you for pulling out the stops.

Financially, Practical Minds Ltd shows some concerning trends. Accumulated depreciation on property, plant, and equipment has increased significantly, particularly for motor vehicles and plant machinery. The number of employees has decreased by 23%, and bank borrowings have remained consistent, while cash reserves have grown by a substantial 91%. Creditors have also increased slightly, and trade debtors have decreased. Despite these changes, the company’s net assets have declined by 12%, and net current assets have fallen by 15%. It’s a small company, meeting two of three criteria for size (turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees). There is no auditor mentioned, likely due to its small size.

Overall, Practical Minds Ltd seems to be facing some financial pressures, despite its strong reputation for delivering high-quality interior solutions. The decrease in employees and decline in net assets raise questions about its long-term sustainability, but the increase in cash reserves suggests it may be able to weather these challenges.

Registered in England/Wales under the registration number 05903669, with a registered address at DE74 2FJ, United Kingdom, Kegworth, Derby, Practical House, 5 Side Ley.

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