Midgard Ltd

Midgard Ltd, based in Borehamwood, UK, is a sizable holding company with an active status, having been incorporated nineteen years ago. Employing 210 people, the company boasts substantial assets of £189,945,000 and generates an impressive £612,419,000 in yearly revenue. While it has a registered address, ten companies share this location, raising questions about its virtual nature. With four directors and one owner, and a stellar 5.0 Google rating from five reviews, Midgard Ltd operates as a regular importer of furniture, lighting, and prefabricated buildings, with the latest import activity recorded in November 01, 2024.

The company’s website showcases Midgard Ltd as a full-service construction firm, specializing in both domestic and commercial projects. It emphasizes a focus on quality, innovation, and repeat business, and even features a section dedicated to its history and values. The website doesn's appear to be an e-commerce platform; instead, it serves as a portfolio and marketing tool, highlighting past projects and showcasing the company’s expertise. A phone number, 0208 953 7800, is prominently displayed, inviting potential clients to connect.

Financially, Midgard Ltd's recent performance presents a mixed picture. While turnover increased by 14% to £610 million, key metrics reveal underlying pressures. Net assets have decreased by 13%, falling to £50 million, and cash reserves have plummeted 29%, leaving just £35 million in the bank. Bank borrowings have increased significantly, and trade debtors have ballooned by 890%, indicating potential issues with customer payments. Creditors, however, have decreased by 18%, suggesting improved debt management. The company’s size (meeting two of three criteria for a large company) and lack of an auditor (likely exempt) mean the figures are unaudited, but they do paint a picture of a company navigating a challenging economic climate. The company's net loss has deepened, and the bank borrowings have increased.

Despite these challenges, Midgard Ltd’s strong revenue generation and positive Google rating suggest a resilient business. The company's focus on construction and its established reputation could provide a foundation for future growth, but it will need to address its cash flow situation and manage its debtors effectively.

Registered in England/Wales under the registration number 05718686, with a registered address at WD6 1RN, Borehamwood, Herts, 4 Elstree Way.

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