Proc2w Limited

Proc2w Ltd from Hungerford UK: a small, active company founded nine years ago, employs ten people, and holds assets worth £1,245,582. It operates from a real address and is overseen by four directors and one owner. The company is an irregular importer of vehicles, parts, and accessories (excluding trains and trams), with just one month of import activity recorded as of March 2022.

The company’s website, greencommuteinitiative.co.uk, reveals a unique social enterprise focused on the Cycle to Work Scheme. It’s not a traditional retailer; instead, it facilitates the purchase of bikes and accessories through employers, offering significant savings for employees through salary sacrifice. The site emphasizes inclusivity, catering to both commercial and non-profit organizations, and offering a wide range of options from standard bikes to specialist cycles and e-bikes. It even partners with major manufacturers like YT Industries and Canyon, streamlining the ordering process. The website’s focus is on promoting sustainable transportation and improving employee well-being.

Financially, Proc2w Ltd presents a mixed picture. While cash reserves increased by a substantial 35% to £790,000, current assets remained steady at £1.2 million. However, trade debtors decreased significantly by 30%, suggesting potential difficulties in collecting payments from customers. Bank borrowings, meanwhile, surged by 2,400% to £29,000—a dramatic increase that could indicate a need for short-term financing. Creditors also decreased by 11%, which is a positive sign. The company’s small size (meeting two of three criteria for a small company) allows for flexibility, but the increase in borrowing and decrease in debtors raise questions about its short-term liquidity. The lack of an auditor mentioned (likely exempt as a small company) means the figures are unaudited.

The company's directors loan arrangement, involving R N Howes, shows a complex pattern. Specific advances decreased by 27%, and repayments dropped by 50%, suggesting a shift in the loan structure. The company’s focus on the Cycle to Work Scheme and its social enterprise model are commendable, but the financial trends suggest a need for careful management of cash flow and debt.

Registered in England/Wales under the registration number 10007258, with a registered address at RG17 7TU, United Kingdom, Hungerford, Berkshire, Unit F Membury Business Park, Ermin Street, Lambourn Woodlands.

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