Galaxy Market Limited

Galaxy Market Limited, based in Southend-on-Sea, UK, is a small, active e-commerce business founded six years ago. Despite a 4.0 Google rating from 106 reviews, the company faces some financial challenges, with accounts overdue for two years and confirmation statements outstanding for one. It holds assets valued at £26,599 and operates with two directors and a single owner, who is also the solo founder.

The company's website, Galaxy Foods Online, showcases a vibrant online grocery store specializing in oriental foods. It offers a wide range of products, from Japanese drinks and Korean staples to Chinese New Year Poon Choi. The site emphasizes convenience with click-and-collect options, nationwide delivery, and secure payment methods like Apple Pay and PayPal. It's clear they're targeting the UK’s growing demand for authentic Asian ingredients and prepared meals.

Financially, Galaxy Market Limited’s picture is a bit mixed. While bank borrowings increased significantly to £72,000, cash reserves dropped to £23,000. Creditors also rose to £72,000, indicating a reliance on short-term financing. On a positive note, current assets stand at £27,000, and trade debtors are a manageable £3,600. The company’s net assets are currently at -£38,000, a significant drop, and it’s not clear how they’re managing this. With no auditor mentioned, the figures are unaudited. It's a small company, meeting two of three conditions for classification (turnover under £10.2m, assets under £5.1m, fewer than 50 employees), so the lack of external scrutiny is not unusual. It seems they’re burning through cash, but the website’s activity suggests they’re still trying to grow their business.

Registered in England/Wales under the registration number 11944098, with a registered address at SS2 4DH, United Kingdom, Southend On Sea, Essex, 108 Norwich Avenue.

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