Wefco (gainsborough) Limited

Wefco Gainsborough Ltd, a large company based in Gainsborough, UK, has been operating for 20 years, employing 95 people and holding assets worth £5,630,609. The company generates an impressive £14,454,131 in yearly revenue, boasting a perfect 5.0 Google rating based on one review. It’s an active business with three directors and a single owner, operating from a real address. Wefco specializes in importing and exporting iron or steel products, with a history of six months of import activity and four months of export activity.

The company’s website reveals a focus on manufacturing metal products, including tanks, fabricated metal goods, and metal structures. It appears to be a B2B operation, supplying industrial customers rather than engaging in direct consumer sales. There’s no obvious e-commerce presence, suggesting a reliance on direct sales and distribution channels.

Financially, Wefco’s numbers present a mixed picture. While turnover remained steady, current assets decreased by 20% to £5.6 million, and net assets dropped by 17% to £2.3 million. Bank borrowings decreased by 14% to £410,000, and cash reserves increased by 100% to £870,000—a positive sign. However, the company’s production costs increased by 9.3%, and its administrative expenses rose by 9.3% as well. The company’s net assets are still healthy, but the increase in production costs could be a cause for concern. The company’s auditor, Hemming Vincent LLP, has reported that the company is in good shape.

Despite these challenges, Wefco Gainsborough Ltd appears to be a well-established and financially stable business. The company’s focus on industrial manufacturing and its strong reputation in the market suggest a bright future, though keeping a close eye on production costs will be important.

Registered in England/Wales under the registration number 05334073, with a registered address at DN21 2AU, Gainsborough, Lincolnshire, Britannia Works, Station Approach.

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