Steelsources Ltd

Steelsources Ltd is a small, active company based in Maidstone, UK, founded 20 years ago in 2005. The company has £1,814 in assets, two employees, and operates from a virtual address shared by 107 other businesses. It's led by two directors, including Ross Charles McDonald, and a single owner. Steelsources Ltd is an irregular importer of iron and steel, with just one month of import activity recorded as of November 8, 2016.

The company's core business involves the wholesale of metals and metal ores. While it doesn’t have a dedicated website, its profile suggests a focus on B2B sales rather than direct consumer engagement.

Financially, Steelsources Ltd is facing some challenges. Current assets have plummeted 74%, dropping to just £1,800, while net assets have fallen a staggering 93%, leaving just £200. Cash reserves have also taken a hit, decreasing 70% to £1,800. Debtor’s are completely gone, and creditors have dropped by 34%. There's been a significant increase in depreciation, with plant machinery increasing by 4.7%. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) means it likely avoids a formal audit, relying on unaudited statements.

The sharp decline in equity and cash reserves suggests Steelsources Ltd is burning through money, perhaps due to increased operating expenses or delayed payments. It's likely the company is trying to manage its finances carefully, but the current trends are concerning.

Registered in England/Wales under the registration number 05330271, with a registered address at ME14 5BJ, England, Maidstone, Kent, Berry & Co Sterling House, 7 Ashford Road.

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