Socketfast Ltd

Socketfast Ltd, based in Walsall, UK, is a small, holding company with an active status. Founded fourteen years ago in 2010, it employs just four people and holds £505,797 in assets. With four directors and a single owner, and a real registered address, it’s a relatively compact operation. The company regularly imports iron or steel products, with eight months of import activity recorded, the latest in November 1st, 2024.

Socketfast Limited operates in the wholesale of other machinery and equipment industries. Its website highlights its specialization in distributing high-grade fastener products, including capscrews, setscrews, and countersunk screws, catering to a range of industrial applications. It’s also a member of the British Irish Association of Fastener Distributors, suggesting a commitment to industry standards and best practices. The company’s website also mentions a showroom in Harrods, London.

Financially, Socketfast Ltd presents a mixed picture. Current assets increased by 4.2% to £510,000, while net assets grew by 32% to £84,000. Cash reserves also increased by 11% to £37,000, a positive sign. However, trade debtors surged by a significant 47%, which could indicate challenges in collecting payments or a strategic decision to offer more credit. Creditors remained relatively stable. 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 increase in debtors warrants closer monitoring. The accounts are unaudited, likely due to the company’s small size, and the director signing the financial statements is Mr. I.W. Harris.

Overall, Socketfast Ltd appears to be financially stable, with growing assets and cash reserves. However, the increase in debtors suggests a potential area of concern that should be addressed.

Registered in England/Wales under the registration number 07420879, with a registered address at WS9 8EX, Walsall, Linley Lodge Industrial Estate Westgate, Aldridge.

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