Offshore Shellfish Limited

Offshore Shellfish Ltd, based in Oban, UK, is a small, active company established eighteen years ago. Employing twelve people and operating from a real address, the company is led by three directors and owned by three individuals. It’s a regular importer of textile padding, felt, and nonwoven fabrics, ropes, and cables, with the last import activity recorded in July 2024. It also exports these same products, though less frequently, with the last export activity in January 2024.

The company’s website highlights its focus on sustainable mussel farming in Lyme Bay, Devon. It’s building what will be the UK’s largest offshore, rope-cultured mussel farm, aiming to produce high-quality seafood while regenerating marine biodiversity and capturing carbon. The farm utilizes specially designed technology to grow blue mussels and boasts accreditations like Best Aquaculture Practice (BAP) and Soil Association Organic certification. The business is family-run, with over thirty years of experience in mussel farming, and emphasizes working in harmony with the natural environment. They’re even recognized for their aquaculture practices and new products.

Financially, Offshore Shellfish Ltd presents a mixed picture. Creditors surged by a staggering 37%, reaching £13 million, while debtors plummeted 61% to £170,000—a significant shift. Cash reserves also took a hit, falling 56% to £790,000. Bank borrowings increased, and accrued liabilities jumped dramatically, reaching £3.2 million. Despite these challenges, the company’s net assets still sit at a negative £8.7 million. The company's small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the large equity drop raises concerns. The lack of an auditor (likely exempt as a small company) means the figures are unaudited.

The company's focus on sustainable aquaculture and premium products suggests a commitment to quality, but the financial data indicates a need for careful management and perhaps a re-evaluation of its business model. It’s clear that the company is facing some financial pressure, but its dedication to environmental responsibility and its unique farming approach could be key to its long-term success.

Registered in Scotland under the registration number SC303631, with a registered address at PA34 4AT, Oban, Argyll, 21 Argyll Square.

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