Sea Gear Supplies Limited

Sea Gear Supplies Ltd, based in Kirkwall, UK, is a small, family-run business with an active trading status. Founded twenty years ago in 2004, the company employs six people and holds £846,867 in assets. It has a real registered address and is overseen by four directors and two owners. Google reviews are excellent, boasting a perfect 5.0 rating from ten customers. The company regularly imports iron or steel products, with eighteen months of import activity recorded, the last in January 2023.

The company’s website, Sea Gear Supplies, caters to the marine and agricultural industries, offering everything from boots and rope to plotters and bow thrusters. It ships to anywhere in the British Isles, with delivery prices varying depending on location. The website highlights Mantus Anchors, emphasizing their high performance, and promotes quality equipment and clothing for the marine industries, drawing on over twenty years of experience. It also has a blog, customer service section, and links to social media.

Financially, Sea Gear Supplies Ltd shows some concerning trends. Cash bank on hand has dropped significantly, falling 39% to £250,000. Creditors have also decreased by 48%, to £250,000, which could indicate improved debt management, but the sharp drop in current assets – down 22% to £850,000 – is a point of concern. Property, plant, and equipment have increased dramatically, by 340%, to £31,000, which could be due to new equipment purchases. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay agile, but the drop in cash reserves raises questions. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

In short, Sea Gear Supplies Ltd is facing some financial headwinds. While its website and customer reviews suggest a strong reputation, the declining cash reserves and increased property values need to be monitored closely. Whether the company can maintain its momentum in the competitive marine supply market remains to be seen.

Registered in Scotland under the registration number SC275359, with a registered address at KW15 1RW, Kirkwall, Orkney, Wayward House, Upper Crantit Road.

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