The Needle Company Ltd

The Needle Company Ltd, based in Market Harborough, UK, is a small, family-run business with an active status, having operated for 26 years. The company employs just three people and holds £40,622 in assets. With three directors and two owners, it’s a tight-knit operation with a real registered address. The Needle Co. specializes in the wholesale of machinery for the textile industry and of sewing and knitting machines industries. It’s an irregular importer of iron or steel products (just one month of imports recorded in 2019) but a regular exporter (nine months of exports, the latest in August 2024).

The company’s website reveals a rich history, tracing back to 1915 when it began manufacturing needles for knitting machines. It now offers a wide range of needlecraft products, from hand-sewing needles to specialist needles for aerospace and medical enduses. The website emphasizes quality, fast order turnaround, and bespoke orders—a testament to its commitment to customer service. It even has a showroom in Harrods, London.

Financially, The Needle Company Ltd shows a mixed picture. Current assets have decreased by 36% to £41,000, while cash reserves have fallen by 50% to £19,000. Bank borrowings have also declined, and creditors have fallen significantly. 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 remain agile, but the decrease in equity raises questions. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

Overall, The Needle Company Ltd appears to be navigating a period of change. While its export business remains strong, the decrease in assets and cash reserves suggests it's burning through money. The company’s long history and commitment to quality, however, provide a solid foundation for future growth.

Registered in England/Wales under the registration number 03641564, with a registered address at LE16 7UF, Market Harborough, Leicestershire, Meadow Barn Main Street, Slawston.

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