Powertech Marine Limited

Powertech Marine Limited, based on Hayling Island, UK, is a small, active company established 21 years ago. With six employees and £73,044 in assets, it operates from a real address and is led by three directors, with Whittle Keith Martin as the sole owner and founder. The company holds a stellar 5.0-star Google rating based on 16 reviews. It's an irregular importer, with its last import activity dating back to July 2021, and primarily deals with retail sales of sports goods, fishing gear, camping goods, boats and bicycles.

The company’s website is currently unavailable, making it difficult to determine the extent of its online presence and e-commerce activities. It seems the business operates primarily through physical channels, possibly catering to local customers and marine enthusiasts.

Financially, Powertech Marine Limited appears to be facing some challenges. Current assets have decreased by 32%, dropping to £73,000, while net assets have plummeted by a staggering 320%, landing at -£34,000. Bank borrowings have increased significantly, reaching £16,000, and cash reserves have dwindled to a mere £140. On a slightly more positive note, creditors have decreased by 51%, suggesting some improvement in debt management. The company’s small size (meeting two of three criteria for a small company) allows for agility, but the substantial equity decline is concerning. No auditor is mentioned, consistent with its status as a small, exempt company.

The sharp decline in equity and cash reserves suggests Powertech Marine Limited may be burning through money, perhaps due to increased operating costs or decreased sales. The increase in bank borrowings indicates a reliance on external financing to cover short-term obligations. While the company maintains a strong Google rating, its financial health warrants close monitoring.

Registered in England/Wales under the registration number 05105167, with a registered address at PO11 0NH, England, Hayling Island, Unit 3 & 4 Mallard Building, Northney Marina.

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