Stainless Band Limited

Stainless Band Limited, based in North Yorkshire, UK, is a medium-sized company operating as a holding company with an active status. Established eighteen years ago in 2007, it employs 43 people and holds assets worth £4,953,605. The company generates a yearly revenue of £10,417,459 and has one director and one owner. It regularly imports and exports iron and steel, with 286 months of recorded activity in both categories.

The company's core business revolves around processing stainless steel coil products in various forms, finishes, grades, and dressings. It caters to diverse sectors, including automotive, insulation, petrochemical, construction, packaging, and heating/air conditioning industries, serving customers across the UK and worldwide. Stainless Band's website highlights its capabilities in slitting, processing, bobbin winding, oscillating winding, temper rolling, flattening, polishing, and edge conditioning, offering a wide range of stainless steel products to meet specific customer needs.

Financially, Stainless Band Limited shows some concerning trends. While revenue remains strong at £10.4 million, net assets have declined significantly, dropping 23% to £2.6 million. Cash reserves have also taken a hit, falling 56% to £440,000. Bank borrowings have increased by 63%, reaching £440,000, and trade debtors have decreased by 30%, suggesting possible difficulties in collecting payments. Despite these challenges, the company's creditors decreased by 17%, indicating improved debt management. The lack of an auditor mentioned in the report suggests the company is exempt, relying on unaudited statements.

The company’s turnover has decreased by 21% to £10 million, which could be due to a number of factors, including increased competition or changes in market demand. The significant drop in cash reserves is a particular point of concern, as it could limit the company’s ability to invest in future growth or weather unexpected expenses. While the decrease in creditors is a positive sign, it’s unclear whether it will be enough to offset the other financial pressures.

Registered in England/Wales under the registration number 06128898, with a registered address at HG3 1GY, North Yorkshire, 3 Greengate, Cardale Park, Harrogate.

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