Mgw Seafoods Limited

Mgw Seafoods Limited is a small, active company established 22 years ago in Edinburgh, Scotland. With a Google rating of 5.0 based on 29 reviews, it employs nine people and holds £281,134 in assets. The company operates from a virtual address shared by 39 other businesses, managed by one director and one owner, Walker Mark George. It's a private limited company focused on the wholesale of other food, including fish, crustaceans, and molluscs. The business also imports furniture, lighting, and prefabricated buildings, though activity has been irregular, with the last import occurring over two years ago.

While the company's website isn't available for detailed analysis, its core business revolves around supplying seafood to wholesale customers. The company’s name, Mgw Seafoods, suggests a focus on quality and freshness, aligning with the premium nature of the seafood industry.

Financially, Mgw Seafoods Limited presents a mixed picture. While cash bank on hand increased by 12% to £8,300, current assets have decreased by 3.1% to £280,000. Debtor levels have also fallen by 3.5% to £270,000. However, net assets have plummeted by 27% to £4,300, and net current assets liabilities have increased significantly by 250% to -£12,000. Bank borrowings have also decreased by 8.6% to £200,000. The company’s small size—meeting two of three conditions for being classified as small—helps it remain nimble, but the substantial drop in equity raises concerns about its financial stability. The lack of an auditor mentioned suggests the company is exempt from an audit as a small company.

Overall, Mgw Seafoods Limited appears to be navigating a challenging period. While its Google rating indicates customer satisfaction, the financial data suggests it’s burning through money. The company's future hinges on its ability to improve profitability and manage its debt effectively.

Registered in Scotland under the registration number SC248994, with a registered address at EH3 6AT, 9 Ainslie Place, Edinburgh.

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