Mag Innovations Ltd

Mag Innovations Ltd, based in Romford, UK, is a small, active company founded nine years ago in 2015. With a single employee and £137,091 in assets, it operates from a real address and is managed by one director and owner. The company runs an e-commerce site and regularly imports electrical machinery and equipment – 25 months worth, with the last import occurring in November 2024. It’s classified as operating in the “other professional, scientific and technical activities n.e.c.” industries.

The company’s website, Mag Innovations Wholesale, focuses on selling electronic peripherals and accessories, catering to a trade-only audience. It emphasizes assured product provenance, legal compliance, and warranty support, offering a range of products from audio equipment to gaming accessories. The site encourages businesses to create trade accounts for access to low pricing and streamlined order management.

Financially, Mag Innovations Ltd presents a mixed picture. Cash bank on hand has decreased by 35% to £12,000, while creditors have increased by 11% to £94,000. However, merchandise has seen a healthy 15% increase to £120,000, suggesting strong sales. Equity has significantly risen by 120% to £8,800, which is a positive sign, though bank borrowings have surged by a whopping 190% to £73,000. The company meets the criteria for a small business, with turnover under £10.2m, assets under £5.1m, and only one employee. There’s no auditor mentioned, which is typical for companies of this size.

While the company's inventory and sales appear robust, the increase in borrowings and decrease in cash reserves suggest it may be reinvesting heavily in its business or facing tighter cash flow. The rise in equity, however, indicates a potential for long-term stability.

Registered in England/Wales under the registration number 09800212, with a registered address at RM5 2QR, England, Romford, 13 Navarre Gardens.

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