Prime Labs Ltd

Prime Labs Ltd, based in Watford, UK, is a small, active company founded six years ago in 2019. With three employees and £105,022 in assets, it operates from a real address and is overseen by two directors and three owners. Its Google rating is a perfect 5.0 based on one review. The company is an irregular importer, primarily dealing in organic chemicals, with just one month of imports recorded as of November 2024. It operates within the professional, scientific, and technical activities sector.

The company's website is not available, making it difficult to ascertain the exact nature of its operations beyond its import activities. It's likely focused on supplying chemicals to other businesses rather than direct consumer sales.

Financially, Prime Labs Ltd presents a mixed picture. Cash reserves have surged dramatically, increasing by 16,000% to £53,000, a very positive sign. However, net assets have decreased by 26% to -£110,000, indicating ongoing losses. Bank borrowings have also decreased by 14%, to £38,000, suggesting better debt management. Trade debtors have plummeted by 64%, which could be a good thing, but also may indicate a reduction in sales. Creditors have also decreased by 14%, which is a positive trend. The company meets two of three criteria to be considered small, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. The lack of an auditor is typical for a small company, meaning the figures are unaudited.

Overall, Prime Labs Ltd seems to be navigating a challenging financial landscape. The significant increase in cash reserves is encouraging, but the ongoing losses and negative equity suggest the company is burning through money. The decrease in debtors is a good sign, but the decrease in current assets is concerning. It's unclear whether the company can sustain its current trajectory, but its small size allows for agility and adaptation.

Registered in England/Wales under the registration number 11746355, with a registered address at WD24 4XX, England, Watford, 3 Bermer Place, Imperial Way.

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