Marine Electrical Installations Limited

Marine Electrical Installations Limited, based in Glasgow, UK, is a small, active company established 23 years ago. With 18 employees and £647,630 in assets, it operates from a virtual address and is led by three directors and two owners, holding a stellar 5.0 Google rating from two reviews. The company regularly imports and exports electrical machinery and equipment, with 13 months of import activity and 5 months of export activity recorded.

The company’s core business revolves around the repair of electrical equipment, catering to the marine sector. Its website, while basic, highlights a focus on marine electrical systems and services. There’s no obvious e-commerce presence; instead, it appears to be a service-based business relying on direct client engagement.

Financially, Marine Electrical Installations Limited presents a mixed picture. Cash reserves have seen a healthy increase of 57%, reaching £260,000, and current assets have risen by 38% to £650,000. However, equity has decreased by 47%, dropping to £12,000. Bank borrowings have also increased, albeit modestly, to £1,800. Trade debtors have grown significantly, rising by 30% to £370,000, which could indicate a reliance on customer payments. Creditors have decreased by 54%, suggesting improved debt management. The company meets the criteria for a small company, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. The absence of an auditor is typical for a small company, and the accounts are unaudited.

The company’s growth in assets and cash reserves is encouraging, but the decrease in equity warrants attention. The increase in trade debtors suggests a potential need to monitor payment collection. While the company’s financial health isn’t dire, it’s clear that careful management is needed to sustain its growth and address the decline in equity.

Registered in Scotland under the registration number SC226588, with a registered address at G66 3AA, United Kingdom, Glasgow, Scotland, C/O Premier Accounting 9b Dalrymple Court, Kirkintilloch.

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