Tool Despatch Ltd

Tool Despatch Ltd from Southend-On-Sea UK is a small, active company founded eleven years ago. Despite its active status, accounts are currently overdue by a year, a potential red flag. The company employs eight people and holds £184,299 in assets, but operates from a virtual address shared by seventy-eight other companies, which is a bit odd. It’s a family business managed by three directors and two owners, with Hatcher Michael John and Hatcher Susan Kay at the helm.

The company’s primary focus is retail sale via mail order houses or via internet, and its website reveals it's a leading manufacturer of industrial ovens and furnaces. They supply a range of markets including electronics, healthcare, and transportation, offering benchtop, walk-in, and conveyor ovens, alongside accessories and custom solutions. The site’s extensive product descriptions and technical resources suggest a focus on quality and expertise, with a press section highlighting partnerships and expansions, like a new partnership with Etek Europe.

Financially, Tool Despatch Ltd presents a mixed picture. While bank borrowings decreased by 25%, cash reserves dropped significantly by 53%, leaving just £9,900. Trade debtors increased by nearly 4%, suggesting potential issues with customer payments. Creditors also rose by 23%, and net assets declined by 70%, resulting in a negative equity of £170,000. Although the company is small, meeting two of three conditions for classification (turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees), the drop in equity and cash reserves is concerning. There is no auditor mentioned, which is typical for small companies. The company's reliance on a virtual address, coupled with the overdue accounts and negative equity, warrants further investigation, though its strong product offering and established presence in the industrial oven market could provide a foundation for future growth.

Registered in England/Wales under the registration number 08632755, with a registered address at SS2 6HZ, Southend-On-Sea, Essex, Cumberland House, 24-28 Baxter Avenue.

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