Prem Apart Edinburgh Limited

Prem Apart Edinburgh Limited, based in Glasgow, UK, is a small, active company founded three years ago in 2022. With two employees and £638,812 in assets, it operates from a real address and is managed by four directors, although there are no registered owners. The company boasts a solid Google rating of 4.0 based on 447 reviews and is a regular importer of furniture, lighting, and prefabricated buildings, with 32 months of import activity recorded, the latest in August 2023.

The company’s website, though not detailed, indicates it operates within the hotels and similar accommodation industries, potentially offering serviced apartments in Edinburgh. It’s a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50.

Financially, Prem Apart Edinburgh Limited presents a mixed picture. Current assets have fallen by 22%, while net assets have plummeted 160%, indicating a significant equity decline. Bank borrowings have increased by 29%, and cash reserves have decreased by 49%. Creditors have also risen by 29%, and trade debtors have decreased by 43%. The company’s small size allows for agility, but the substantial equity drop and rising debt raise concerns. No auditor is mentioned, likely due to its small size and exemption from auditing requirements.

The company’s financial data suggests it may be burning through cash reserves, potentially due to increased borrowing or decreased revenue. The change in directors four months ago could signal a shift in strategy or management restructuring, and it's likely the company is working to improve its financial health.

Registered in Scotland under the registration number SC725534, with a registered address at G1 3BX, United Kingdom, Glasgow, Olympic House, 136-148 Queen Street.

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