Magnificent Gifts Ltd

Magnificent Gifts Ltd from Llansantffraid UK is a small company with an active status, founded nine years ago. It employs just one person and holds £10,745 in assets. The company has a real address and is run by one director and one owner, operating an e-commerce site. It’s a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, and employees less than 50.

The business operates in the retail sale via mail order houses or via internet industries. It’s a small, family-run operation, and the website showcases a range of giftware and home accessories. The company’s online presence is well-maintained, suggesting a focus on customer engagement and online sales.

Financially, Magnificent Gifts Ltd presents a mixed picture. Current assets have fallen by a significant 39% to £11,000, while net assets have dropped 47% to £9,700. Cash bank on hand has also seen a sharp decline, falling 76% to just £2,300. Creditors have decreased by 40%, which is a positive sign, but loans from directors have increased to £1,100. The company’s equity has also shrunk considerably, indicating a potential strain on its financial stability. It seems like the company is struggling to maintain its previous level of assets.

The lack of employees (just one reported) keeps overheads low, but the decline in equity and cash reserves raises concerns. With no auditor mentioned, the figures are unaudited, relying on director-reported data. It's clear that Magnificent Gifts Ltd is facing some financial headwinds, but its e-commerce focus and small size could help it weather the storm.

Registered in England/Wales under the registration number 10020983, with a registered address at SY22 6FH, Wales, Llansantffraid, 4 Lon Maldwyn.

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