Coombe Fisheries Limited

Coombe Fisheries Ltd from Barnstaple UK: a large company, holding company, active status, founded 44 years ago, employing 135 people, boasting assets of £8,853,041, and generating a yearly revenue of £31,912,993. It has a real address, four directors, and one owner, with a respectable Google rating of 4.0 based on 22 reviews. The company regularly imports miscellaneous food products (for nine months) and exports fish and seafood, including shellfish and other water creatures (for 176 months).

This family-run business is a leading provider of seafood in the South West, operating from a custom-built facility in Barnstaple, Devon. Founded in 1980, Coombe Fisheries has achieved consistent growth by developing long-term partnerships with suppliers, staff, and customers. Currently, its annual turnover exceeds £30 million, with approximately 85% coming from frozen sales. It mainly processes king scallops, whelks, cuttlefish, squid, and sprat, supplying a truly global customer base, from wholesalers to continental hypermarkets and the Far East.

The company’s website highlights its commitment to quality and sustainability, showcasing its BRC Grade A rating—a testament to its rigorous quality management system. It also emphasizes its customer-focused approach, offering a wide range of seafood products and services.

Financially, Coombe Fisheries Ltd presents a mixed picture. While revenue remains strong, certain indicators raise questions. Accrued income has increased significantly, jumping 270% to £96,000, which could indicate delayed payments or increased short-term liabilities. Accumulated amortisation impairment intangible assets also rose, up 17%, and depreciation of property, plant, and equipment increased by 13%. However, the company’s average number of employees has increased by 15%, suggesting growth in operations. Despite these changes, bank borrowings have dramatically increased by 630%, reaching a substantial £1.2 million, which may be linked to expansion or investment. The company’s cash reserves have plummeted, falling 99% to a mere £1,800, which is a cause for concern. Creditors have also decreased, which is a positive sign.

The company’s financial data, audited by Milsted Langdon LLP, reveals a complex situation. While turnover remains high, the sharp decline in cash reserves and the substantial increase in bank borrowings suggest that Coombe Fisheries may be burning through money. The increase in accrued income also indicates potential cash flow challenges. However, the company’s strong market position and commitment to quality could help it weather these pressures.

Registered in England/Wales under the registration number 01506577, with a registered address at EX31 1QN, Barnstaple, Devon, Riverside Road, Pottington Business Park.

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