Rags Lincoln Ltd

Rags Lincoln Ltd from Lincoln UK: a small, active company founded 11 years ago, employs three people, and holds £255,019 in assets. It has a real address, one director, and one owner. The company is an irregular importer of clothing and accessories, not knitted or crocheted, with just one month of import activity recorded in 2022.

The company operates within the retail sale of clothing in specialised stores. It's a small company, meeting two of three conditions: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The University of Lincoln Students Union website, meanwhile, highlights a very different operation – a bustling hub for student life, offering everything from sports clubs and academic support to live music events and student representation. The site doesn’s seem to be linked to Rags Lincoln Ltd.

Financially, Rags Lincoln Ltd’s numbers paint a mixed picture. Current assets have fallen by 14% to £260,000, while net assets have dropped 5.6% to £200,000. Bank borrowings have significantly decreased by 55%, reaching £8,300, and cash reserves have fallen 48% to £100,000. Trade debtors have increased dramatically by 1300%, reaching £80,000, which could indicate a period of rapid growth or potential issues with customer payments. The company’s creditors have also decreased by 55%, which is a positive sign. With no auditor mentioned, the figures are unaudited.

The company’s irregular import activity and declining cash reserves suggest it may be facing challenges maintaining a steady income stream. The decrease in bank borrowings is a positive sign, but the sharp increase in trade debtors warrants further investigation. It seems the company is holding steady, but it’s important to monitor its financial performance closely.

Registered in England/Wales under the registration number 08565016, with a registered address at LN2 1JG, Lincoln, 278 High Street.

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