Stainless Steel Services Limited

Stainless Steel Services Limited, based in Birmingham, UK, is a large, active company founded 30 years ago in 1994. With 27 employees and £6,462,662 in assets, it generates a substantial £15,122,722 in yearly revenue. It’s a family business with five directors and two owners, boasting a perfect 5.0 Google rating from five reviews. The company regularly imports and exports iron and steel, with 392 months of import activity and 24 months of export activity recorded.

The company operates in the non-specialised wholesale trade industries, a sector known for its broad range of products and diverse customer base. While a website isn't available to examine, the company's core business appears to be the distribution of stainless steel and related products.

Financially, Stainless Steel Services Limited is showing some concerning trends. While turnover remained relatively stable, net assets declined by 20%, falling to £2,800,000. Cash reserves also took a hit, dropping 30% to £770,000. Bank borrowings increased significantly, jumping 43% to £1,800,000. Creditors, however, decreased by 18%, suggesting improved debt management. The company meets two of the three criteria to be classified as a large company, with turnover exceeding £36 million and balance sheet total exceeding £18 million. The unaudited financial statements were reviewed by Cooper Parry Group Limited.

These shifts could be due to several factors, such as increased competition, changes in raw material costs, or investments in new equipment or personnel. The increase in borrowings might indicate a need for working capital or funding for expansion, while the decrease in cash reserves could reflect tighter margins or increased operational expenses. It's possible that the company is strategically managing its debt to fuel growth, but the declining net assets warrant close monitoring.

Registered in England/Wales under the registration number 02990634, with a registered address at B21 0BH, Birmingham, West Midlands, Middlemore Road, Handsworth.

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