Magallanes Tidal Energy Ltd

Magallanes Tidal Energy Ltd, based in Kirkwall, UK, is a small, active company founded five years ago. With just two employees and £74,147 in assets, it’s a solo-founder operation overseen by three directors and one owner, Marques De Magallanes Regojo Alejandro Luis. The company operates in the engineering related scientific and technical consulting activities industries. It’s a regular importer, primarily bringing in machinery, boilers, and mechanical appliances—parts, with five months of import activity recorded, the last in October 2023.

The company’s website is currently unavailable, making it difficult to assess its operations beyond the import activity. It seems to be a specialized consultancy, potentially focused on tidal energy-related projects, given the name. However, without a website, it’s impossible to confirm this.

Financially, Magallanes Tidal Energy Ltd presents a mixed picture. Current assets have fallen significantly by 79%, dropping to £74,000. Debtor values have also decreased by 77%, now at £61,000. However, creditors have fallen by a substantial 74%, now at £75,000. Equity has decreased by 15%, now at -£340,000. Cash reserves are down a dramatic 85%, now at just £14,000. The company’s small size (meeting two of three conditions for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the decrease in cash and the negative equity are concerning. The lack of an auditor mentioned (likely exempt as a small company) means the figures are unaudited.

While the company's import activity suggests ongoing business, the financial data reveals a company struggling to maintain its financial health. The decrease in cash reserves, in particular, raises questions about its ability to meet its obligations. It’s possible that the company is experiencing a temporary setback, or that it’s burning through money faster than it’s bringing it in. The management structure, with three directors, could also indicate a more complex decision-making process, which may be contributing to the financial challenges.

Registered in Scotland under the registration number SC661403, with a registered address at KW15 1ZL, United Kingdom, Kirkwall, Unit 2, Warness Park Hatston Pier Road, Crowness Business Park.

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