Savanna Rags International Limited

Savanna Rags International Limited, based in Mansfield, UK, is a large company with an active status, having been founded 31 years ago in 1994. Employing 192 people, the company holds assets worth £8,200,489. While it has a registered address, it’s likely a virtual address as 25 companies share the same location. With four directors and a solo founder, Suleman Ahmed, at the helm, the company maintains a respectable Google rating of 4.0 based on seven reviews.

The company’s core business revolves around the collection, processing, and export of used textiles. It’s a family-run operation, collecting textiles, bric-a-brac, and more from charity shops, local authorities, and schools across the UK. This material is then exported globally, with 6 months of import activity and 39 months of export activity recorded. They also offer wiping cloths, shoes, and footwear to businesses, and even provide cash for clothing at multiple locations in Nottinghamshire. The company’s website highlights its commitment to reducing textile waste and supporting charitable organizations.

Financially, Savanna Rags International Limited presents a mixed picture. While cash and cash equivalents increased by 11% to £4,800,000, net assets decreased by 4.9% to £6,200,000. Turnover has seen a significant drop, falling 36% to £8,000,000. Bank borrowings have surged by 2,400%, reaching £29,000, and cash reserves fell 30% to £28,000. The company's staff costs have decreased by 40%, which could be a sign of cost cutting measures. The company is not required to have an audit, so the figures are unaudited.

The sharp decline in turnover and the increase in bank borrowings suggest the company may be facing challenges, but the increase in cash reserves and the company's commitment to its core business could help it weather the storm. The company’s long history and established network of suppliers and customers are also valuable assets.

Registered in England/Wales under the registration number 02887068, with a registered address at NG18 3DH, England, Mansfield, 106 Carter Lane.

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