Ritefast Ltd

Ritefast Ltd from London UK: a small, active company established 22 years ago, employs nine people, and holds assets worth £351,384. With two directors and one owner, it operates from a real address in Lombard Road. While an irregular importer of iron or steel products (just one month of imports in 2018), Ritefast Ltd is a regular exporter (seven months of exports, last in January 01, 2025). The company operates in the manufacture of fasteners and screw machine products industries.

The company’s website is not available, so it’s difficult to determine if Ritefast Ltd operates an e-commerce site. However, its business description suggests a B2B model, supplying iron or steel products to industrial clients.

Financially, Ritefast Ltd presents a mixed picture. Current assets have decreased by 6.7% to £350,000, and net assets have fallen by 0.97% to £720,000. Bank borrowings have decreased by 44% to £13,000, while cash reserves have increased by 18% to £110,000. The company's small size (meeting two of three conditions for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the decrease in profits, which plunged 95% to just £7,900, raises concerns. Creditors have also decreased by 8%, suggesting improved debt management. The accounts are unaudited, which is common for small companies.

The company's decrease in profits could be due to several factors, such as increased competition, rising material costs, or changes in customer demand. The decrease in net assets, while not alarming, warrants monitoring to ensure the company maintains a healthy financial position.

Registered in England/Wales under the registration number 04712257, with a registered address at SW19 3TZ, London, Unit B And C, 14 Lombard Road.

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