Waterhaul Ltd

Waterhaul Ltd, based in Newquay, UK, is a small, active company founded five years ago in 2019. With nine employees and £914,059 in assets, it operates from a real address at the Treloggan Industrial Estate. The company is led by two directors, including its solo founder, Dennis Weguelin, and runs an e-commerce site dedicated to tackling marine plastic pollution. Waterhaul specializes in recovering and recycling ghost fishing gear, transforming it into sustainable products like eyewear, litter-picking equipment, and utility knives. It also partners with other brands to increase its impact.

The company regularly imports and exports optical and medical tools and devices, with 35 months of import activity and 6 months of export activity recorded. Its website highlights a commitment to traceability, allowing customers to track the origin of the recycled plastic used in each product. The company’s mission is to create a positive impact on the ocean, and its products are marketed towards environmentally conscious consumers.

Financially, Waterhaul Ltd shows some interesting trends. Cash reserves increased significantly, jumping 440% to £530,000, a positive sign. However, net assets declined by 670% to £690,000, and retained earnings dropped by a substantial 480% to -£300,000, indicating potential losses or significant investments. Bank borrowings decreased slightly, but trade debtors increased by nearly 50%, which could be a concern if payments aren't received promptly. Despite these challenges, the company’s small size (meeting two of three criteria for a small company) allows for flexibility. With no auditor mentioned, the financial statements are unaudited.

Overall, Waterhaul Ltd appears to be a dynamic company with a compelling mission, but the financial data suggests it’s navigating a period of investment and potential losses. Whether the company can sustain its growth and achieve profitability remains to be seen—but its commitment to sustainability and traceable products positions it well in a growing market.

Registered in England/Wales under the registration number 12005391, with a registered address at TR7 2SX, England, Newquay, 9a Seabase Units, Treloggan Industrial Estate.

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