Tennant Metallurgical Group Limited

Tennant Metallurgical Group Ltd, based in Chesterfield, UK, is a holding company with an active status, celebrating 65 years in business. Founded in 1960, the company employs twelve people and holds assets valued at £9,959,518. With six directors and one owner, it operates from a real address, sharing the space with only one other company. The firm regularly imports and exports iron and steel, with 297 months of import activity and 39 months of export activity recorded.

The company's core business revolves around the wholesale of metals and metal ores, and it seems to have a connection to ferro alloys, metals, and minerals used in various industrial fields. It also owns companies T M (developments) Limited and Tennant Metallurgical Limited. Previous names include Tennant Midgley Group Limited and Hafslund Limited.

Financially, Tennant Metallurgical Group Ltd has experienced some significant shifts. Administrative expenses have drastically decreased by 60%, a positive sign, but bank borrowings have surged by 330%, reaching £2.1 million. Cash reserves remain relatively stable at £2,600. Creditors have increased by 18%, and net assets have fallen by 31%, dropping to £4.9 million. Interestingly, the company’s tax credit on profit or loss on ordinary activities has decreased by 36%, and trade debtors have fallen by 13%. The company’s auditor is BHP LLP.

While the decrease in administrative expenses is encouraging, the increase in bank borrowings and the decline in net assets suggest the company is facing financial pressure. It’s possible the company is investing in growth or dealing with increased costs, but the trends warrant close monitoring. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay agile, but the sharp equity drop raises questions.

Registered in England/Wales under the registration number 00646646, with a registered address at S41 8NG, United Kingdom, Chesterfield, Derbyshire, Room 111 Dunston Innovation Centre, Dunston Road.

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