The Specs Factory Outlet Ltd

The Specs Factory Outlet Ltd, based in Pinner, UK, is a small, family-run business with an active status. Founded 16 years ago, it employs five people and holds £154,118 in assets. Operating from a virtual address (ten companies share the same location), the company is led by two directors and two owners. It boasts a stellar 5.0 Google rating from 92 reviews, and irregularly imports optical and medical tools and devices, with the last import occurring two months ago. The business operates in the retail sale by opticians industries.

The company’s website, thespecsfactoryoutlet.co.uk, showcases a modern opticians practice in St. Albans. It offers a wide range of services, including eye examinations (NHS and private), children’s eye exams, digital retinal photography, and dispensing of designer eyewear brands like Ray-Ban, Lindberg, and Serengeti. The site also highlights innovative technologies like Meta Smart Glasses, Zeiss Myopia Control lenses, and Apple Vision Pro optical inserts, catering to both fashion-conscious customers and those seeking advanced vision correction. The website also includes a blog with articles about eye care and new technologies.

Financially, The Specs Factory Outlet Ltd presents a mixed picture. While current assets increased by 75% to £150,000, net assets only grew by 41% to £720, with a significant drop in cash reserves—down 32% to £4,000. Bank borrowings were reduced by 50% to £10,000, and creditors increased by 110% to £140,000. Trade debtors saw a dramatic rise of 310%, suggesting a possible shift in payment terms or increased sales on credit. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the increase in creditors and the drop in cash reserves warrants attention. The accounts are unaudited, and no auditor is mentioned.

In conclusion, The Specs Factory Outlet Ltd appears to be navigating a period of growth, but with some financial challenges. The focus on high-end eyewear and innovative technologies suggests a strategy to differentiate itself in a competitive market—though managing cash flow will be key to long-term success.

Registered in England/Wales under the registration number 06879566, with a registered address at HA5 5PW, Pinner, Greater London, 52 High Street.

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