Summit 364 Limited

Summit 364 Ltd, based in Enfield, UK, is a small, active company established eight years ago. With £142,714 in assets and a virtual address (shared by over 200 other companies), it’s a family business run by two directors and owners. The company operates an e-commerce site and is a regular exporter of paper and paperboard products, with 33 months of export activity recorded, the latest in March 2024. It also imports paper and paperboard products, though irregularly, with the last import recorded in June 2022. The company operates in the non-specialised wholesale trade industries.

The website, Summit Packaging, positions itself as a local packaging supplier offering nationwide delivery. It emphasizes competitive prices, direct importing, and quality control. The site features a range of products, including grip seal bags, packing tape, and even eco-friendly dog waste bags made from recycled plastic and oyster shell. It also offers a range of own-brand products and allows customers to create free accounts for preset billing and delivery addresses. The website also provides a distribution centre address in Preston.

Financially, Summit 364 Ltd presents a mixed picture. Cash bank on hand increased significantly, jumping 130% to £45,000, which is a good sign. However, current assets decreased by 38% to £140,000, and net assets declined by 27% to -£190,000, indicating a reliance on debt. Creditors also decreased by 31%, which is positive, but trade debtors increased by 54%, suggesting potential issues with customer payments. The company’s small size (meeting two of three criteria for a small company) allows for agility, but the negative equity is a concern. The company is exempt from an audit, so the figures are unaudited.

The company’s financial situation suggests it’s not burning through money rapidly, but it’s also not generating significant profits. The increase in cash reserves is encouraging, but the negative equity and rising debtors need to be monitored. The family ownership and focus on wholesale distribution could provide stability, but the company will need to manage its debts and improve its profitability to ensure long-term success.

Registered in England/Wales under the registration number 10660833, with a registered address at EN2 8DJ, England, Enfield, 45 Chase Court Gardens.

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