Turntide Drives Limited

Turntide Drives Ltd from Gateshead UK is a large, active company founded four years ago, employing 100 people and holding £5,602,126 in assets. It operates as a holding company and is regularly exporting electrical machinery and equipment, while its import activity is irregular. The company has two directors and one owner, Collingwood Solutions Ltd, and its registered address is real, with only four companies registered there.

The company operates in the other service activities n.e.c. industries. Its website is not available for analysis, so details on its operations are limited.

Financially, Turntide Drives Ltd appears to be experiencing some challenges. While current assets increased by 43% to £5,600,000, net assets decreased by 49% to -£22,000,000. Bank borrowings have increased significantly by 53%, reaching £24,000,000, and cash reserves have fallen by 29% to £870,000. Creditors have also increased by 42% to £29,000,000. The company’s losses deepened by 36% to -£7,400,000. Despite these setbacks, the company’s increased trade debtors, by 67%, suggests a possible expansion of credit terms or delayed customer payments. The company is audited by Sumer Auditco Limited. It's likely that the company is burning through money, although the increased trade debtors could indicate a period of growth and investment.

Registered in England/Wales under the registration number 13224626, with a registered address at NE11 0QA, United Kingdom, Gateshead, Turntide Drives Eighth Avenue, Team Valley Trading Estate.

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