Bargain Appliances Ltd

Bargain Appliances Ltd, based in Glasgow, UK, is a small, active company founded six years ago. Despite a promising 5.0 Google rating from 77 reviews, the business faces some financial headwinds. Currently employing just one person and holding £14,305 in assets, it operates an e-commerce site selling appliances. The company’s real address is registered, and it's managed by a single director and owner, who also acts as the solo founder.

While the business is active, it's overdue on its accounts for two years and confirmation statements for three years—a potential red flag. The company meets the criteria to be considered small, with a turnover less than £10.2 million, a balance sheet total less than £5.1 million, and fewer than 50 employees.

A closer look at the financials reveals a mixed picture. Bank overdrafts have surged by a staggering 930%, reaching £9,600, while cash reserves remain relatively stable at £3,000. Creditors have also increased significantly, rising by 340% to £13,000. Trade debtors have skyrocketed by 3,200%, reaching £3,200, suggesting potential issues with customer payments. On the positive side, cash bank on hand is stable, and other creditors have risen by 110%.

The company’s website, Euronics, showcases a wide range of home and kitchen appliances, from TVs and washing machines to cookers and small appliances. It operates as a franchise, offering local pricing and stock availability based on postcode. The site’s extensive product categories and brand listings—including LG, Sony, and Samsung—indicate a well-established online retail presence.

The lack of an auditor mentioned suggests the company is exempt from an audit as a small company. While the e-commerce site appears active and well-stocked, the financial data reveals a startup facing some financial pressure. It’s unclear whether the company can sustain its growth trajectory, but its strong Google rating and diverse product offerings provide a foundation for future success.

Registered in Scotland under the registration number SC618587, with a registered address at G32 6AX, United Kingdom, Glasgow, 55 Camburn Street, Unit 2.

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