Premium Steel Limited

Premium Steel Limited, based in Windsor, UK, is a small, active company founded five years ago in January 2020. With a single employee and £52,080 in assets, it operates from a virtual address—a fact highlighted by the presence of ten other companies registered at the same location. The company is run by a solo founder who also serves as director and owner. It’s an irregular importer of iron and steel, with just one month of import activity recorded as of August 2022.

The company's website reveals a focus on precision metal fabrication, offering services like cutting, blanking, and shearing of stainless steel and aluminum. It boasts significant machinery, with two machines weighing around 66.5 tonnes each, capable of cutting through stainless steel “like butter.” The site also features a gallery showcasing its work and provides contact information and directions to its Stafford-based facility. It seems they are trying to establish a new name in expertise.

Financially, Premium Steel Limited presents a concerning picture. Current assets have plummeted by 67%, dropping to £52,000, while net assets have fallen by a substantial 53%, reaching -£400,000. Bank borrowings have increased significantly, and cash reserves have shrunk by 73%, leaving just £1,700. Creditors have decreased, which is a positive sign, but the overall trend indicates a company struggling to manage its finances. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) means it’s exempt from an audit, so the figures are unaudited. It’s likely that the company is burning through money, and the management structure, with a single director and owner, could be a factor.

Registered in England/Wales under the registration number 12405904, with a registered address at SL4 1SE, England, Windsor, Berkshire, 13 Vansittart Estate.

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