Magsells Ltd

Magsells Ltd, based in Portsmouth, UK, is a small, active company founded 14 years ago. With three employees and £128,112 in assets, it operates from a virtual address, a detail flagged by the presence of 35 other companies registered at the same location. It's a solo founder operation, managed by a single director and owner, Sarah McCarthy. The company runs an e-commerce site specializing in microwave spare parts, particularly magnetrons, catering to commercial, domestic, and industrial markets.

The website showcases a wide range of magnetrons and components, emphasizing quality and competitive pricing. It even offers technical support and blog content related to microwave repair and safety. The company regularly imports and exports electrical machinery and equipment, with a history of 59 months of imports and 48 months of exports.

Financially, Magsells Ltd presents a mixed picture. While current assets increased slightly to £130,000, net assets grew to £73,000, a positive sign. However, bank borrowings decreased significantly to £4,800, and trade debtors rose sharply to £26,000, which could indicate delayed payments from customers. Cash reserves increased to £15,000, a welcome boost. Creditors also decreased, suggesting better debt management. As a small company, it meets two of three criteria for small business status (turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees). The lack of an auditor mentioned is typical for companies of this size, relying on unaudited statements.

The company’s focus on a niche market—microwave spare parts—and its online presence suggest a targeted approach. The increase in trade debtors, however, warrants attention, and it’s unclear whether the company’s financial health will sustain its import and export activities long term.

Registered in England/Wales under the registration number 07437172, with a registered address at PO6 3TH, England, Portsmouth, Hampshire, Unit 12 Acorn Business Park, Northarbour Road.

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