Merlin Coatings Limited

Merlin Coatings Ltd from Bolton UK: a small company with an active status, was founded 21 years ago and currently employs just two people. The company holds £5,930 in assets and operates from a real address, overseen by two directors and one owner. It’s an irregular importer, primarily dealing in plastics and plastic products, with just one month of imports recorded as of October 2022.

The company’s website is non-existent, making it difficult to determine the full scope of its operations beyond what’s publicly available. However, company records indicate Merlin Coatings Limited operates in the manufacture of paints, varnishes and similar coatings, mastics and sealants industries.

A review of Merlin Coatings Ltd’s financials paints a concerning picture. Current assets have plummeted by a staggering 92%, dropping to just £5,900. This is a significant decrease from the previous year's £76,000. Bank cash has also suffered, decreasing by 93% to a mere £4,000. Trade debtors have fallen by 70%, suggesting a slowdown in customer payments, and equity has declined by a substantial 79%, now sitting at £17,000. While creditors have also decreased, the overall trend points towards financial strain. The company meets two of three criteria to be considered small, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. There is no auditor mentioned, likely due to the company's small size.

The sharp decline in assets and cash reserves is a worrying sign, and it’s possible the company is struggling to manage its working capital. It's likely that the company is burning through money like a startup. The decrease in debtors could be a result of customers delaying payments, or it could reflect a slowdown in sales. It's also possible that the company has made significant investments in inventory or equipment, which would explain the decrease in cash reserves.

Registered in England/Wales under the registration number 04809742, with a registered address at BL1 6AN, England, Bolton, 1 Empress Street.

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