Simply Dry Limited

Simply Dry Limited, based in Wolverhampton, UK, is a small, active company founded twelve years ago in 2012. Employing six people and holding £149,271 in assets, it's a solo-founded operation with one director and owner. The business operates an e-commerce site selling disposable towels and salon equipment, boasting a perfect 5.0 Google rating from nine reviews. It’s an irregular importer, bringing in clothing and accessories, not knitted or crocheted, for two months, with the last import in December 2023.

The company’s website, Simply Dry, caters to salons and hairdressers, offering disposable towels and other equipment to save time and money while being ecofriendly. They highlight the towels’ composition – free of pesticides, bleach, and polyester – and their biodegradability. The site also features a salon starter kit and offers bulk discounts for business customers. It’s clear they’re aiming to provide a convenient and sustainable solution for the beauty industry.

Financially, Simply Dry Limited shows a mixed bag. Cash bank on hand increased significantly, jumping 130% to £86,000, a positive sign of improved liquidity. However, current assets also increased by 33% to £150,000. Trade debtors decreased by 16% to £33,000, suggesting better collection of payments. Equity increased by 24% to £100,000, a good indicator of retained earnings. Creditors, however, rose by 60% to £46,000. 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 for agility, but the increase in creditors warrants monitoring. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

Overall, Simply Dry Limited appears to be holding its own, with strong cash reserves and a positive online reputation. However, the increase in creditors suggests a need to manage debt effectively. The company’s focus on ecofriendly products and its commitment to customer service position it well for continued success, but careful financial management will be key.

Registered in England/Wales under the registration number 08278302, with a registered address at WV5 8AP, England, Wolverhampton, West Midlands, Unit 1 Heath Mill Industrial Park, Heath Mill Road, Wombourne.

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