Mimir Marine Limited

Mimir Marine Ltd from Hull UK: a small, active company founded 18 years ago, employs 16 people, and holds £688,075 in assets. Operating from a virtual address and led by three directors and a solo founder, the company imports electrical machinery infrequently (just one month of activity) but regularly exports optical and medical tools and devices (nine months of exports). It’s a small business, meeting two of three conditions to be considered small: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees.

The company’s website, while not providing detailed e-commerce information, reveals that Mimir Marine Ltd operates within the manufacture of other special-purpose machinery n.e.c. industries. It’s unclear if they have an online store or primarily engage in business-to-business sales.

Financially, Mimir Marine Ltd’s recent performance presents a mixed picture. Cash reserves have taken a significant hit, plummeting by 97% to just £3,300. Trade debtors have also decreased by 16%, suggesting a possible tightening of credit terms or difficulties collecting payments. However, creditors have increased by 38%, which could be due to increased borrowing or supplier payments. Net assets have also increased by 2.9%, and current assets have decreased by 19%. It’s worth noting that the company’s net losses have increased by 14%, and the company has a deferred tax policy. The company has no auditor mentioned, likely due to being exempt as a small company.

Despite these challenges, Mimir Marine Ltd's consistent export activity in the optical and medical device sector suggests a stable revenue stream. The company’s small size allows for agility, but the decline in cash reserves warrants close monitoring. The increase in creditors, while potentially manageable, could indicate a reliance on short-term financing.

Registered in England/Wales under the registration number 06032906, with a registered address at HU2 8HX, Hull, Princes House, Wright Street.

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