The Workshop (wisbech) Limited

The Workshop Wisbech Ltd from Wisbech UK is a small, active company founded 25 years ago. Employing 273 people and holding £462,614 in assets, it operates from a virtual address – a point to note as 128 companies are registered at the same location. The business is a family affair, managed by three directors and two owners, and boasts a respectable Google rating of 4.0 based on 19 reviews. It’s an irregular importer, primarily dealing in toys, games, and sports equipment, with its last import activity recorded one month ago in August 2022.

The company’s website isn't available for review, so it’s difficult to determine if they have an e-commerce presence or operate solely as a business-to-business supplier. They are described as operating in the temporary employment agency activities industries.

Looking at the financial data, The Workshop Wisbech Ltd shows a mixed picture. Current assets have decreased by 12%, dropping to £460,000, while net assets have also fallen by 19%, settling at £92,000. Bank borrowings have increased by a significant 2,400%, reaching £29,000, and cash reserves have fallen by 6.5%, dropping to £250,000. However, creditors have decreased by 11%, suggesting some improvement in debt management. The company meets two of the three conditions to be considered small – turnover under £10.2 million and assets under £5.1 million – and employs fewer than 50 people. The lack of an auditor mentioned likely means the accounts are unaudited, relying on director-reported data.

The company's average number of employees has decreased by 6.2%, from 270 to 260, which could be a result of changing market conditions or internal restructuring. The increase in bank borrowings, coupled with the decline in cash reserves, suggests the company may be burning through money faster than it's bringing it in, though it’s hard to say for sure. The decrease in trade debtors, however, is a positive sign. It’s possible that the company is focusing on quicker payments, which could improve its overall financial health.

Registered in England/Wales under the registration number 03791548, with a registered address at PE13 3BH, United Kingdom, Wisbech, Cambs, Unit 14 The Boathouse Business Centre, 1 Harbour Square.

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