Red Diamond Distribution Limited

Red Diamond Distribution Ltd, based in Walsall, UK, is a sizable company operating as a holding company with an active status. Established eleven years ago in 2013, the firm employs eleven people and holds assets totaling £8,836,517. It has a real address and is managed by three directors and one owner, boasting a respectable Google rating of 4.0 based on five reviews. The company regularly imports machinery, boilers, and mechanical appliances; parts (301 months imported), while exporting these same items irregularly (1 month imported).

The company’s website reveals it’s a distributor for Mitsubishi Forklift Trucks, offering a wide range of counterbalance, electric, LPG, and diesel forklifts, as well as warehouse equipment. They provide solutions for hire, consultancy, fleet management, and even offer battery solutions, including lithium-ion options. The site also highlights services like forklift driver training and safety features, catering to various industries. The website also mentions a partnership with Logisnext UK Ltd and Red Diamond Distribution Ltd are group companies of Mitsubishi Logisnext Europe B.V.

Financially, Red Diamond Distribution Ltd presents a mixed picture. Current assets have decreased by 23%, falling to £8,800,000, while net assets have increased by 15%, reaching £4,600,000. Bank borrowings have declined by 11%, dropping to £1,800,000, and cash reserves have increased by 6%, reaching £2,900,000. Creditors have decreased by 32%, suggesting improved debt management, but staff costs have increased by 73%, reaching £610,000. The company meets the criteria to be considered large, having met two of three conditions: turnover more than £36 million, balance sheet total more than £18 million, and employees more than 250. The accounts were audited by Ellacotts Audit Services Limited.

The increase in staff costs, combined with the decrease in current assets, could indicate investments in growth or operational challenges. It’s likely that the company is focusing on expanding its services and maintaining its position as a key distributor for Mitsubishi Forklift Trucks.

Registered in England/Wales under the registration number 08590099, with a registered address at WS2 8DQ, England, Walsall, Unit 4 Leftfield Park, Reedswood Park Road.

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