Canal Water (mcr) Ltd

Canal Water (mcr) Ltd, based in Prestwich, UK, is a small, active company founded six years ago in 2018. Employing fifteen people and holding assets of £1,821,785, it operates from a virtual address – sixty one other companies are registered there too – and is overseen by eight directors and three owners. The company is an irregular importer, primarily dealing in furniture, lighting, and prefabricated buildings, with just one month of imports recorded as of April 2024.

The company's website reveals a focus on the Bridgewater Canal, a historic waterway stretching across North West England. It’s not a retail site, but rather a resource for boating enthusiasts, offering information on activities, licensing, and maintenance. The site highlights the canal’s history, its recreational opportunities (paddleboarding, fishing), and even offers updates on ongoing restoration projects, like the breach at Dunham. It’s a community-focused organization, aiming to regenerate the towpath and promote the canal as a valuable asset.

Financially, Canal Water (mcr) Ltd presents a mixed picture. While current assets remained stable at £1,800,000, net assets declined significantly by 25%, settling at -£890,000. Cash bank on hand plummeted 68%, falling to just £3,600. Trade debtors remained steady at £1,800,000, but creditors increased by 15%, reaching £1,100,000. Borrowings also increased, reaching £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) means it’s exempt from a full audit, relying on unaudited statements.

The sharp decline in equity and cash reserves suggests the company is facing financial pressures, despite its stable turnover. The ongoing canal restoration projects, however, demonstrate a commitment to long-term value – and perhaps a hope that increased usage and tourism will eventually bolster its financial health. The directors, including Chen Jingde and Tang Ziyao, will need to carefully manage these challenges to ensure the canal’s future.

Registered in England/Wales under the registration number 11668359, with a registered address at M25 0TL, England, Prestwich, 2nd Floor Parkgates, Bury New Road.

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