Spider Magnetics Ltd

Spider Magnetics Ltd is a small, active company based in Barnsley, UK, founded twelve years ago in 2012. With just one employee and £56,529 in assets, it's a solo venture led by a single director and owner, Kipling Richard. The company operates from a virtual address, sharing space with thirty-six other businesses, and is regularly importing electrical machinery and equipment—nineteen months of import activity were recorded, with the most recent in August 2024. Its core business involves retail sales via mail order and via the internet.

The company's website is minimal, lacking detailed product listings or e-commerce functionality. It seems to primarily serve as a contact point and provides basic company information. This suggests a business-to-business model, or perhaps a more traditional sales approach relying on direct contact and orders.

Financially, Spider Magnetics Ltd shows a mixed picture. Current assets have decreased by 4.4% to £57,000, while equity has fallen by 13% to £38,000. Cash reserves remain relatively stable at £29,000, but bank borrowings have increased by 2.2% to £28,000. Creditors have also risen by 19%, reaching £20,000. The company's small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 10 employees) means it is exempt from an audit, so the figures are unaudited.

The decrease in equity and increase in creditors could indicate a period of tighter margins or increased investment in inventory. However, the stable cash position suggests the company is managing its finances adequately. The company's import activity, while consistent, hasn’s necessarily translated into significant revenue growth. It's likely that the company is facing challenges in scaling its business, but its long-standing presence and consistent import activity suggest a degree of resilience.

Registered in England/Wales under the registration number 08035090, with a registered address at S71 3PQ, Barnsley, South Yorkshire, Henry Morgan House Industry Road, Carlton.

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