Mid-ulster Auctions Limited

Mid Ulster Auctions Ltd, based in Magherafelt, Northern Ireland, is a small, active company established 26 years ago. Employing eight people, it holds £760,879 in assets and operates from a real address. With five directors and one owner, the company specializes in auctioning a variety of goods. It’s an irregular importer, bringing in machinery, boilers, and mechanical appliances – parts for two months, and an irregular exporter of vehicles, parts, and accessories (excluding trains and trams) for one month.

The company’s website showcases a robust auction platform, facilitating both buying and selling. It’s clear Mid Ulster Auctions operates primarily as an auction house, offering a wide range of items from construction equipment to cars and HGVs. The site highlights a commitment to customer service, with features like online bidding, viewing appointments, and flexible payment options. They even have a section dedicated to corporate services, suggesting a focus on business-to-business transactions.

Financially, Mid Ulster Auctions Ltd presents a mixed picture. While current assets increased by 80% to £760,000, net assets also grew by 24% to £430,000. Bank borrowings decreased by 63%, to £5,800, and cash reserves rose by 85% to £510,000. However, trade debtors increased significantly by 71%, suggesting a potential challenge in collecting payments. Creditors also rose, by 150%, to £340,000. The company’s small size (meeting two of three criteria for being small) helps it remain nimble, but the rise in debtors warrants closer monitoring. The lack of an auditor mentioned suggests the company is exempt from an audit as a small company.

Overall, Mid Ulster Auctions Ltd appears to be a well-established auction house navigating a dynamic market. The company’s focus on customer service and diverse inventory positions it for continued success, but the increase in debtors will need to be addressed.

Registered in Northern Ireland under the registration number NI035966, with a registered address at BT45 8DP, Magherafelt, Co L'Derry, 1 Loves Hill, Castledawson Roundabout.

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