Speed Plastics Limited

Speed Plastics Ltd, based in Derby, UK, is a small holding company with an active status, celebrating 36 years in business. Employing 39 people, the company holds assets totaling £3,596,376, but operates from a virtual address – a detail worth noting as twenty-three companies share the same registration location. Four directors and one owner (though the list is not exhaustive, only showing owners with over 25% shares) steer the ship.

The company’s core business revolves around high-frequency welding of flexible plastics, offering both bespoke engineering solutions and a range of products including medical and pharmaceutical items, seating solutions, and child learning aids. They're regular importers of machinery, boilers, and mechanical appliances, with 13 months of import activity recorded, and regular exporters of optical and medical tools and devices, boasting 60 months of export activity. Their website highlights a focus on quality and British craftsmanship, with a team of dedicated employees, including a long-serving factory operative celebrating 17 years with the company.

However, a closer look at the financial data reveals some concerning trends. While fixed assets have increased significantly, jumping 180% to £980,000, current assets have fallen by 14% to £3,200,000. Bank borrowings have surged by a staggering 2,400% to £29,000, and cash reserves have plummeted 29% to £280,000. Creditors have also decreased by 25%, which could be a positive sign of better debt management. The company’s small size (meeting two of three criteria for being classified as small) allows for agility, but the substantial equity drop raises questions about its financial health. The accounts are unaudited, and no auditor is mentioned, which is common for small companies. It’s also worth noting that the company's net losses deepened, and trade debtors ballooned, suggesting delayed customer payments or expanded credit terms.

Registered in England/Wales under the registration number 02335046, with a registered address at DE24 8HG, Derby, Derbyshire, 5 Prospect Place Millennium Way, Pride Park.

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