Magnit Ltd

Magnit Building Traders Service Ltd, based in Pinner, UK, is a small, active company established ten years ago in 2014. With just two employees and £20,033 in assets, it operates from a registered address that's also a virtual one, shared by twenty-four other companies. The company is managed by one director and owned by two individuals, though the list of owners changed twelve months ago. It’s a private limited company, and its accounts are unaudited.

The company’s primary focus is construction services, particularly kitchen and bathroom installations and plumbing. Its website showcases a range of services, including interior and exterior painting, roofing, carpentry, tiling, flooring, plastering, stretch ceilings, and locksmith services. It also offers services like boiler servicing and even stretch ceiling installations, with a ten-year guarantee. The company advertises itself as providing “quality and high customer satisfaction.” It’s a private individual enterprise, working directly with clients.

Financially, Magnit Building Traders Service Ltd presents a mixed picture. Cash reserves have fallen significantly, dropping 77% to just £1,700. Bank borrowings have decreased by 46% to £19,000, and current assets have also fallen by 43% to £20,000. However, creditors have also decreased by 44% to £21,000, suggesting improved debt management. Interestingly, trade debtors have increased by a substantial 180%, reaching £8,100, which could indicate delayed payments from clients. The company's net assets have increased by 310% to £680. The company meets two of the three conditions to be considered small, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. The company’s accounts are filleted, and the production software used was Acorah Software Products.

Despite the decrease in cash and assets, the company’s focus on specialized construction services and direct client interaction could be a strength. The increase in trade debtors, however, warrants attention, and the company should monitor its cash flow closely.

Registered in England/Wales under the registration number 09106890, with a registered address at HA5 4HS, Pinner, Middlesex, Avondale House, 262 Uxbridge Road.

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