Fishtek Marine Limited

Fishtek Marine Limited is a small, active family business based in Totnes, UK, founded eight years ago in 2016. With eleven employees and £818,740 in assets, the company operates from a real address and is overseen by three directors and two owners. While irregular importers of toys, games, and sports equipment (just one month of imports recorded in 2021), Fishtek Marine is a regular exporter of the same goods, with eighteen months of export activity ending in December 6 2024.

The company’s core focus, as highlighted on its website, is reducing the impact of fishing on the marine environment. It designs and sells a range of technological solutions aimed at preventing bycatch—the unintentional capture of non-target species—in various fishing methods. Products include acoustic deterrents (pingers), underwater lights, and electric devices to repel sharks. The website also showcases research and development projects, collaboration with universities and NGOs, and even a “SharkGuard” system. The company’s website is well-designed and professional, suggesting a strong focus on marketing and brand image.

Financially, Fishtek Marine Limited presents a mixed picture. Accumulated amortisation for copyrights and patents increased by 53%, while development costs capitalised rose 60%. However, cash bank on hand plummeted 78% to just £81,000. Creditors surged 160%, indicating a reliance on short-term financing, and trade debtors increased by 110%, suggesting potential issues with customer payments. Despite these challenges, net assets grew by 12% to £1.3 million, and 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. There's no mention of an auditor, likely due to its status as a small company.

Overall, Fishtek Marine Limited seems to be navigating a period of transition. While its innovative products and commitment to sustainability are promising, the significant decline in cash reserves and increase in debt warrant close attention. It’s clear the company is investing heavily in its products and research, but whether this investment will translate into long-term financial health remains to be seen.

Registered in England/Wales under the registration number 10448564, with a registered address at TQ9 6JY, Totnes, Devon, Unit 1a Webbers Way, Dartington.

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