D. Mcghee & Sons Limited

D. McGhee & Sons Ltd, based in Glasgow, UK, is a holding company with a strong 74-year history. Employing around 380 people, the company boasts assets of £13,668,886 and is managed by seven directors, with one owner. Its Google rating stands at a respectable 4.0 based on 87 reviews. The company regularly imports machinery, boilers, and mechanical appliances, with recent activity recorded in June 2023.

The company operates as a craft bakery, producing morning goods and flour confectionery. Its website highlights a legacy stretching back to 1936, emphasizing quality and family ownership. It's a well-established brand with a presence in Harrods, London, through its piano restoration division. The company’s website also mentions a commitment to employing disabled persons.

Financially, D. McGhee & Sons Ltd shows some concerning trends. While turnover increased by 12%, profits declined by 18% to £2.7 million. Bank borrowings surged by 2,400% to £29,000, and cash reserves fell 30% to £28,000. However, creditors decreased by 18%, suggesting better debt management. Accumulated amortisation impairment intangible assets remained stable, while staff costs increased by 22%. The company is audited by Azets Audit Services.

The sharp increase in bank borrowings and decrease in cash reserves could indicate a need for increased working capital, or possibly investment in the piano restoration division. The stable creditors, however, suggest that the company is managing its short-term liabilities effectively. Overall, D. McGhee & Sons Ltd appears to be navigating a period of change, balancing its heritage with the demands of a competitive market.

Registered in Scotland under the registration number SC028084, with a registered address at G21 1HX, Glasgow, 10 Keppochhill Drive, M8 Food Park.

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