Scotts (lincs) Jewellers Limited

Scotts Lincs Jewellers Ltd from Skegness UK is a small, family business with an active status, celebrating 61 years since its founding in 1964. Employing 11 people, the company holds £1,243,640 in assets and operates from a real address. With four directors and two owners, it maintains a respectable Google rating of 4.0 based on 48 reviews. Regular imports of jewelry, precious stones, and metals have been ongoing for the past eight months.

The company’s operations center around the retail sale of watches and jewellery, as well as jewellery repair services. They also have a website, though it primarily directs users to Facebook for engagement. The Facebook page suggests a focus on community interaction and promotions, rather than direct e-commerce. It’s clear they’re leveraging social media to connect with customers.

Financially, Scotts Lincs Jewellers Ltd presents a mixed picture. Cash bank on hand has decreased by 24% to £880,000, while current assets have fallen 16% to £1,200,000. Creditors have significantly decreased by 58%, suggesting improved debt management, and other creditors have dropped by a substantial 63%. However, the company’s net assets have also declined by 11% to £1,200,000. The company meets two of three conditions to be considered small, with turnover less than £10.2 million, balance sheet total less than £5.1 million, and fewer than 50 employees. The company's average number of employees has also decreased by 27% to 8. The unaudited financial statements, prepared by Duncan & Toplis Limited, don’t mention an auditor, which is expected for a small company.

Overall, Scotts Lincs Jewellers Ltd appears to be navigating a period of change. While the decrease in cash reserves and net assets is a concern, the reduction in debt suggests a focus on financial stability. The company's long-standing presence and positive customer reviews indicate a resilient business model, though it's important to monitor these trends closely.

Registered in England/Wales under the registration number 00801000, with a registered address at PE25 2AT, Skegness, Lincolnshire, 27 - 29, Lumley Avenue.

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