Textile Technologies Europe Limited

Textile Technologies Europe Ltd, based in Hyde, UK, is a small, active company with a long history, having been founded 69 years ago in 1955. With nine employees and £941,436 in assets, it operates from a real address and is managed by three directors and a single owner. The company runs an e-commerce site and is a regular importer and exporter of glass and glassware, with 95 months of import activity and 79 months of export activity recorded.

The company specializes in the manufacture and merchanting of industrial, technical, and high-temperature textiles, supplying various industries including automotive, foundry, steel processing, power generation, and wind turbine sectors. Its website highlights a broad range of textiles, from thermal fabrics to medical filtration materials, and even offers services like heat-resistant textile solutions for extreme environments. It also appears to have a presence in the composites industry, offering reinforcement textiles for construction.

Financially, Textile Technologies Europe Ltd shows a mixed picture. Current assets increased by 7.6% to £940,000, while net assets grew by 20% to £700,000. Cash reserves saw a significant boost, increasing by 110% to £220,000. However, trade debtors decreased by 11%, and prepayments fell by 30%. Bank borrowings decreased by 40%, and creditors also decreased by 18%, suggesting improved debt management. The company meets the criteria for a small business, with turnover likely under £10.2 million, assets under £5.1 million, and fewer than 25 employees. The accounts are unaudited, a common practice for small companies.

Overall, Textile Technologies Europe Ltd seems to be in a relatively stable position, benefiting from its long-standing presence and diverse customer base. The increase in cash reserves is a positive sign, although the decrease in trade debtors could indicate a need to tighten credit terms. The company’s ability to adapt to changing market demands, particularly in the textile and industrial sectors, will be key to its continued success.

Registered in England/Wales under the registration number 00556653, with a registered address at SK14 2BZ, Hyde, Cheshire, Unit 6a Kingston Mills, Manchester Road.

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