Magpie Agency Limited

Magpie Agency Ltd from London UK is a small, active company founded nine years ago. With three employees and £136,650 in assets, it operates from a virtual address shared by over 800 other companies, a detail that warrants some scrutiny. The company is led by one director and one owner, and it’s classified as an irregular importer, primarily dealing with clothing and accessories that aren’t knitted or crocheted, with just two months of import activity recorded as of February 2022. It operates in the wholesale of watches and jewellery industries.

The company’s website is not available, which makes it difficult to assess its online presence and sales strategy. This lack of a visible online storefront is a bit unusual for a wholesale business in the modern era.

Financially, Magpie Agency Ltd presents a mixed picture. Current assets have decreased by 8.3% to £140,000, while net assets have plummeted by a staggering 100% to just £10. Bank borrowings have increased significantly, and cash reserves have fallen considerably. Creditors have also remained relatively stable. The company’s small size—meeting two of three criteria for a small company—allows for agility, but the sharp decline in equity is concerning. It’s worth noting that the company’s accounts are unaudited, which is typical for small companies, and there is no auditor mentioned.

The significant decrease in equity suggests the company may be burning through money, perhaps due to increased operating expenses or decreased sales. The rise in trade debtors could indicate difficulties in collecting payments from customers. While the company’s irregular import activity and lack of a visible online presence are noteworthy, the most pressing concern is the sharp decline in net assets, which warrants further investigation.

Registered in England/Wales under the registration number 09881758, with a registered address at WC2H 9JQ, United Kingdom, London, 71-75 Shelton Street.

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