Source Lab Limited

Source Lab Ltd, based in Cheadle, UK, is a large, active company founded 21 years ago. Employing 11 people, it holds £3,987,000 in assets and operates from a real address. The company is led by three directors and owned by Ronnie Andrew, who is also the solo founder. It boasts an impressive Google rating of 5.0 based on five reviews. Source Lab Ltd regularly imports and exports clothing and accessories made by knitting or crocheting, with 262 months of import activity and 14 months of export activity recorded.

The company operates in the wholesale of clothing and footwear industries. Its website is not available to analyse, so it’s difficult to determine if it has an e-commerce presence.

Financially, Source Lab Ltd presents a mixed picture. Current assets have decreased by 7%, falling to £4,000,000. Bank borrowings have increased by 2,400%, reaching £68,000, and cash reserves have fallen 7.5% to £2,000,000. Creditors have decreased by 41%, suggesting better debt management. However, the most striking change is the surge in net assets, which have increased by 120%, reaching £2,000,000. This could be due to increased profitability or revaluation of assets. The company meets two of three conditions to be considered large, with a turnover over £36 million, balance sheet over £18 million and employees over 250. The company’s unaudited financial statements were prepared by Hart Shaw LLP.

The significant decrease in administrative expenses, down 20%, and the increase in net profit, up 620%, suggest improved operational efficiency. However, the sharp rise in deferred tax liabilities, up 390%, warrants further investigation. The company’s success in maintaining a high Google rating, combined with its established import/export operations, positions it well for continued growth, but the fluctuating financials indicate a need for careful management.

Registered in England/Wales under the registration number 05001935, with a registered address at SK8 7BS, England, Cheadle, Cheshire, Landmark House Station Road, Cheadle Hulme.

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