Riverbank Restaurant Limited

Riverbank Restaurant Ltd from Westcliff On Sea UK: a small, active company established 22 years ago, employs four people, and holds £140,575 in assets. It operates from a virtual address – a fact highlighted by the presence of 24 other companies registered at the same location – and is overseen by two directors and one owner. The company is an irregular importer, primarily dealing in machinery, boilers, and mechanical appliances, with its last import operation occurring one month ago in August 2021.

The company runs Riverbank Restaurant, Clubhouse Gastro Bar, and The Mill Master’s House, all located in Dromahair, Co. Leitrim, Ireland. The website showcases a focus on Irish food experiences, friendly service, and a warm atmosphere, catering to both casual diners and larger gatherings. It appears to be a popular destination, with TripAdvisor reviews consistently praising the quality of food, cleanliness, and hospitality. The restaurant's website highlights its commitment to using fresh, local produce and creating an award-winning culinary experience.

Financially, Riverbank Restaurant Ltd presents a concerning picture. Retained earnings and accumulated losses have plummeted by a staggering 130%, resulting in negative equity of -£26,000. Cash reserves have also decreased, and bank borrowings have risen, suggesting the company is burning through cash. While creditors have decreased slightly, other debt has increased significantly. The company’s small size (meeting two of three criteria for a small company) allows for agility, but the sharp decline in equity raises questions about its long-term viability. The lack of an auditor mentioned (likely exempt as a small company) means the figures rely on unaudited director’s reports.

It seems Riverbank Restaurant Ltd is facing financial headwinds, despite its strong reputation and positive customer reviews. Whether it can weather these challenges and continue to thrive remains to be seen.

Registered in England/Wales under the registration number 04702302, with a registered address at SS0 7LP, Westcliff On Sea, Essex, 114 Hamlet Court Road.

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