Point Shipping Services Ltd

Point Shipping Services Ltd, based in Newry, UK, is a small, family-run business with an active status. Founded ten years ago in 2014, the company employs six people and holds £633,706 in assets. It operates from a real address and is managed by two directors and two owners. The business primarily imports machinery, boilers, and mechanical appliances – parts, with the last import activity recorded just one month ago in December 2021. The company operates in the service activities incidental to water transportation industries.

The business appears to have a modest online presence, with no website readily available. This suggests a focus on direct client relationships and potentially a more traditional, B2B model rather than direct-to-consumer sales.

Financially, Point Shipping Services Ltd presents a mixed picture. While net assets increased by 9.5% to £110,000, current assets only rose slightly by 4.1% to £630,000. Bank borrowings decreased significantly by 26% to £27,000, and cash reserves increased by 8.5% to £280,000, indicating improved liquidity. Creditors decreased by 29%, suggesting better debt management. The company meets two of three conditions to be classified as small: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. With no auditor mentioned (likely exempt as a small company), the unaudited figures rely on director-reported data.

The company’s reliance on irregular imports, particularly in a single category, could make it vulnerable to supply chain disruptions. The decrease in bank borrowings is a positive sign, but the slight increase in current assets doesn't necessarily indicate strong growth. It's possible the company is carefully managing its expenses and focusing on maintaining a healthy cash flow, but it’s also possible the company is burning through money.

Registered in Northern Ireland under the registration number NI627806, with a registered address at BT34 3LF, Northern Ireland, Newry, Down, 8 Charlotte Street, Warrenpoint.

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