Race Recycling Limited

Race Recycling Ltd, based in Buxton, UK, is a small, family-run business with an active status. Founded fourteen years ago in 2010, the company employs eight people and operates from a virtual address – forty other companies share the same location, which is a little odd. It's led by one director and two owners, and regularly exports textile products, used clothing, and rags, with six months of export activity recorded, the last in November 2023.

The company’s website is currently undergoing maintenance, but a contact email is provided, and a user login and password reset option are available, suggesting an established online presence. It seems Race Recycling is focused on recovery of sorted materials and retail sales via mail order and internet industries.

Financially, Race Recycling Ltd presents a mixed picture. Accumulated depreciation on plant and machinery increased significantly by 48%, reaching £270,000, which could indicate investment in equipment. However, net assets have plummeted by 82%, falling to just £20,000 – a considerable drop. Bank borrowings also increased, reaching £49,000, and cash reserves have shrunk. Creditors have also increased, although trade debtors have decreased. The company meets the criteria for a small company, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. There is no auditor mentioned, which is common for small, exempt companies.

Overall, Race Recycling Ltd appears to be facing financial pressures, despite its ongoing export activity. The significant decrease in equity raises concerns, and the increased bank borrowings suggest a reliance on external funding. It’s a small business with a family feel, but its future depends on its ability to manage its finances and maintain its export markets.

Registered in England/Wales under the registration number 07445726, with a registered address at SK17 6EQ, Buxton, Derbyshire, Unit 1 11 Eagle Parade.

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