Romad Limited

Romad Ltd from Ilford UK is a small, active company founded eight years ago. With six employees and £546,738 in assets, it operates from a virtual address and is run by one director and two owners – a family business. The company regularly imports and exports printed materials like books, newspapers, and pictures, with 33 months of import activity and 46 months of export activity recorded.

Romad is a family-owned warehouse and distribution specialist, providing comprehensive mail, parcel, and e-commerce services. Its website highlights a dual focus: a core business of warehousing and distribution, and a separate venture involving high-end piano restoration through 1066 Pianos. The latter, based in Cambridge, even has a showroom in Harrods, London, specializing in museum-grade restorations. The company caters to a wide range of customers, from startups to established businesses, offering services like wholesale mail delivery, parcel shipping, and e-commerce support.

Financially, Romad Ltd shows a mixed picture. Current assets have decreased by 24% to £550,000, while net assets have fallen by 110% to £510. Bank overdrafts remain steady at £29,000, and cash reserves have increased by 180% to £27,000. Creditors have decreased by 25% to £560,000, suggesting improved debt management. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows it to remain agile. The decrease in equity, however, raises questions about its long-term financial health. With no auditor mentioned, the figures rely on unaudited statements.

The company’s increased tax liabilities, rising by 450%, may indicate a period of growth and increased profitability, but it also suggests a need for careful tax planning. The decrease in other debtors, falling by 99%, could be a positive sign of efficient collection practices, or it could signal a reduction in sales or credit extended. Overall, Romad Ltd appears to be navigating a period of change, balancing its core warehousing business with the prestige of its piano restoration division.

Registered in England/Wales under the registration number 10341482, with a registered address at IG4 5NX, England, Ilford, 6 Roding Lane South.

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