Bingo Limited

Bingo Limited, based in Ruislip, UK, is a small, active company founded 20 years ago. Despite its longevity, the company has accounts overdue for a year and currently employs just one person. With £17,657 in assets and a real address, it’s a solo founder operation led by a single director and owner, Magon Ashish.

The company’s website, Buzz Bingo, positions itself as striving to become the nation's number one choice for bingo. It blends "fresh vibes" with traditional British bingo, offering a mix of social games and live entertainment, with a focus on safer gambling practices. Recent news highlights include recognition for a live bingo presenter and a double win at the EGR Awards, showcasing the company's efforts to innovate and expand its reach. The website also details a transformation of one of its Borehamwood clubs, hinting at ongoing efforts to adapt to changing market conditions.

Financially, Bingo Limited presents a mixed picture. Cash reserves remain steady at £1,000, but net assets have plunged to -£34,000—a significant decline. Bank borrowings have increased substantially to £50,000, while current assets have risen to £18,000. Creditors also increased to £16,000. The company's small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the substantial equity loss suggests ongoing financial pressure. As a small company, it is exempt from an audit, so the figures are unaudited.

While Bingo Limited appears to be actively working to maintain its presence in the competitive bingo market, the financial data reveals a company struggling to stay afloat. The reliance on bank borrowings and the negative equity position raise concerns about its long-term sustainability.

Registered in England/Wales under the registration number 05291841, with a registered address at HA4 7HT, England, Ruislip, London, 20 Church Avenue.

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