Simnic Imports Limited

Simnic Imports Ltd, based in Selby, UK, is a small, active company founded ten years ago in 2014. With two employees and £53,654 in assets, it’s a modest operation managed by two directors and owners. The company operates from a real address, with only one other business registered at the same location. Its primary focus is importing natural and modified starches, glues, and enzymes, with a consistent record of imports spanning eight months, the last being in November 2024. It has also dabbled in exporting machinery and mechanical appliances, though this activity is irregular, with just one month of export recorded in July 2023.

The company’s website, Simnic Imports, highlights a retail shop currently closed due to Covid-19 restrictions, but maintains a mail-order service. It also showcases a second brand, Iosso and HH66 products, suggesting a broader range of offerings. The site provides contact information, hours of operation, and a location at the Selby Boat Centre. It also mentions a WordPress-powered website, indicating a modern approach to online presence.

Financially, Simnic Imports Ltd presents a mixed picture. While cash bank on hand decreased by 45% to £7,400, trade debtors increased by 45% to £44,000, suggesting potential issues with customer payments. Bank borrowings decreased by 28% to £9,500, which is a positive sign. However, net assets plummeted 93% to just £300, and equity dropped significantly. Creditors decreased by 28%, which could be a result of better 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) helps it stay nimble, but the sharp equity drop raises concerns. The unaudited accounts, prepared using Taxfiler software, do not mention an auditor.

Overall, Simnic Imports Ltd appears to be navigating a challenging financial landscape. The company’s focus on niche imports and its online presence offer potential for growth, but addressing the decline in equity and managing customer payments will be crucial for its long-term success.

Registered in England/Wales under the registration number 09034690, with a registered address at YO8 8NA, Selby, North Yorkshire, Simnic Imports Limited, Bawtry Road.

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