Reliance Garage (ryedale) Limited

Reliance Garage (Ryedale) Limited, based in Bridlington, UK, is a holding company with a solid 47-year history. Employing 122 people and boasting assets of £23,694,562, the company maintains a virtual address, a detail worth noting. Five directors and one owner (Chapman Raymond) steer the business, which holds a remarkable 5.0 Google rating from 60 reviews. The company regularly imports furniture, lighting, and prefabricated buildings, with the most recent import occurring in July 2024.

Beyond being a holding company, Reliance Garage (Ryedale) Limited operates as a car repair shop and dealership, as evidenced by its website, The Helmsley Garage. It offers services ranging from MOTs and repairs to car sales and even garden machinery. The website also showcases a used car sales division and highlights a partnership with Clive Brook Limited. Customer testimonials praise the friendly, professional service and the business’s commitment to quality.

However, a closer look at the financial data reveals a mixed picture. While the company’s revenue appears stable, several key metrics have shifted. Bank borrowings have increased significantly, by 370%, reaching £330,000, and cash reserves have decreased by 410%, falling to £930,000. Creditors have also risen, by 67%, to £950,000. The number of employees has nearly doubled, from 120 to 240, which could indicate expansion or increased workload. The decrease in trade debtors by 51% could be a positive sign of improved cash flow management, or it could reflect a slowdown in sales. The company’s auditor, UHY Hacker Young Manchester LLP, hasn't released any statements, so the figures are unaudited.

Overall, Reliance Garage (Ryedale) Limited seems to be navigating a period of change. The expansion of its workforce and increased borrowing suggest ambitious growth plans, but the decline in cash reserves and rising creditors warrant careful monitoring. The company's strong reputation and diverse range of services, however, provide a solid foundation for future success.

Registered in England/Wales under the registration number 01313672, with a registered address at YO16 4LZ, Bridlington, East Riding Of Yorkshire, Medina House, 2 Station Avenue.

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