Michael Spiers (jewellers) Limited

Michael Spiers Jewellers Ltd, a well-established family business based in Plymouth, UK, has been a fixture in the jewellery and watch retail scene for 64 years. With a workforce of 60 employees and substantial assets of £16.1 million, the company boasts annual revenue of £28.7 million. Six directors and five owners guide the business, which operates from a real address and maintains a thriving e-commerce site, evidenced by a perfect 5.0 Google rating from 157 reviews. The company regularly imports jewelry, precious stones, and metals (for 21 months) and exports clocks, watches, and their parts (for 28 months).

The company is considered a large business, having met two of three conditions: turnover exceeding £36 million and balance sheet total over £18 million, alongside having more than 250 employees. They are an active company, and the financial data reveals some interesting trends. While cash reserves have significantly decreased by 87%, dropping to £390,000, net assets have increased by 21%, reaching £14 million. Bank borrowings have also decreased, suggesting a move towards reduced debt. Trade creditors have decreased by 11%, indicating better management of short-term liabilities.

The company’s focus on importing and exporting, alongside its online presence, suggests a diverse revenue stream. The surge in bank borrowings could be a sign of investment in inventory or expansion, while the decrease in cash reserves might be a consequence of increased sales and operational expenses. The absence of an auditor mentioned in the report is likely due to the company's size and exemption from mandatory audits. Overall, Michael Spiers Jewellers Ltd appears to be a financially stable, albeit dynamic, business navigating the challenges and opportunities of the jewellery and watch market.

Registered in England/Wales under the registration number 00689786, with a registered address at PL1 1LR, England, Plymouth, 54 Cornwall Street.

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