Mitchell Acoustics Limited

Mitchell Acoustics Limited is a small, active company based in London, UK, founded six years ago in 2018. It’s a tight operation with just one employee and £745,309 in assets, operating from a virtual address shared by eleven other companies. The company has three directors and is owned by Mitchell Paul William, whose ownership details were recently updated – a good sign for potential sales.

The company's website, uStream Smart Home Stereo, showcases a range of Bluetooth-enabled stereo speakers, highlighting features like long battery life and fast shipping. The site's design suggests a focus on direct-to-consumer sales, with a clean layout and prominent "Buy Now" buttons. The company seems to be targeting tech-savvy consumers interested in high-quality audio for their homes.

Financially, Mitchell Acoustics Limited presents a mixed picture. Cash reserves have seen a dramatic increase, jumping 9800% to £240,000, which is a very positive sign. However, net assets have plummeted 580% to -£1.5 million, and retained earnings are also deeply negative. Trade creditors have also increased significantly, rising 8800% to £640,000, suggesting a reliance on credit from suppliers. The company’s bank borrowings have also decreased by 25%, which is good, but the large increase in creditors is a concern. Despite these challenges, the company’s assets have increased by 410% to £750,000. The lack of an auditor mentioned, likely due to its small size, means these figures are unaudited.

The company’s recent activity shows it’s a regular importer of electrical machinery and equipment, with the latest import occurring in March 2024. It also exports occasionally, with the last export recorded in October 2024. While the financial picture is complex, the surge in cash reserves suggests a recent injection of capital or a successful sales period. It will be interesting to see if the company can manage its increased creditor obligations and turn its negative equity around.

Registered in England/Wales under the registration number 11438199, with a registered address at EC1V 2NX, England, London, 124-128 City Road City Road.

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