Official Watches Limited

Official Watches Ltd, based in Finchley, UK, is a medium-sized company with an active status, having been established eighteen years ago. Employing twenty people, the company holds assets worth £5,984,949 and generates a yearly revenue of £20,601,415. While it has a registered address, 188 companies are registered at the same location, suggesting a virtual address. The business is managed by three directors and owned by two individuals, with regular import and export operations involving clocks, watches, and their parts – 9 months of imports and 18 months of exports.

The company’s website, OfficialWatches.co.uk, is clearly focused on the retail sale of luxury watches. It’s an e-commerce platform showcasing a wide range of brands, including Rolex, Audemars Piguet, Patek Philippe, and many others. The site offers both "Available Now" and "Available to Order" sections, alongside services like watch valuations, repairs, and insurance. A "Sell" section allows customers to trade in their watches, and a blog provides articles and reviews. The site also features a section for "New Arrivals" and a "WOW" section highlighting new products.

Financially, Official Watches Ltd shows some interesting trends. Accrued liabilities have increased significantly, rising by 330%, while bank borrowings have decreased by 59%. Cash and cash equivalents have fallen by 55%, and trade debtors have plummeted by 94%. However, creditors have surged by 320%, suggesting a need to manage payments more effectively. The company’s net assets remain stable, at £1.5 million. Although the company’s auditors, Duncan & Toplis Audit Limited, haven’t been mentioned, the financial statements are audited.

The increase in liabilities, alongside the decrease in cash reserves, could indicate a period of investment or expansion. The surge in creditors suggests the company may be relying on trade credit to manage its operations. Despite these challenges, the company’s strong revenue and asset base suggest a healthy core business, and the e-commerce platform appears well-maintained and actively promoting luxury watch sales.

Registered in England/Wales under the registration number 05970282, with a registered address at N3 2SZ, England, Finchley, London, 3rd Floor Marlborough House, 298 Regents Park Road.

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