Quinn Ropes Ltd

Quinn Ropes Ltd from Tamworth UK is a small, active company founded seven years ago. With three employees and £52,993 in assets, it’s a family business run by two directors and owners. The company is an irregular importer of iron or steel products, with just one month of import activity recorded as of March 01, 2022. Quinn Ropes operates in the manufacture of wire products, chain, and springs industries.

The company’s website highlights its focus on high-performance steel wire ropes, catering to industries like crane operations and construction. It acts as a UK distributor for ArcelorMittal products, offering a full range of ropes for various applications, including overhead gantry cranes and winches. The site includes a catalogue, contact information, and a subscription form for updates. It’s clear Quinn Ropes is focused on B2B sales, providing specialist ropes to industrial clients.

Financially, Quinn Ropes Ltd presents a mixed picture. Current assets have fallen by 15%, dropping to £53,000, while net assets have increased slightly by 2%, reaching £21,000. Bank borrowings have decreased by 8%, settling at £19,000. Creditors have seen a significant decrease of 46%, falling to £17,000, which is a positive sign. Cash reserves have also declined by 6%, ending at £6,200. The company meets two of the three conditions to be considered small, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. The increase in other creditors by 2500% is a little concerning, though. As a small company, it’s exempt from an audit, so the figures are unaudited.

Overall, Quinn Ropes Ltd appears to be navigating a period of adjustment. While it’s maintaining a lean operation and managing its debts, the decline in cash reserves and the rise in other creditors suggest potential pressures. The company’s focus on a specialized market and its relationships with key suppliers like ArcelorMittal should help it weather these challenges.

Registered in England/Wales under the registration number 11002612, with a registered address at B77 1AG, England, Tamworth, Unit 3 Kettlebrook Road.

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