Mistral Provisions Ltd has been a client since November 2022, importing and wholesaling ambient food products. We provide company secretary, registered office and accounting services. The relationship was rated low risk at onboarding, and this is its second annual review.
- Accepted profile (Nov 2022): projected turnover €800,000; customers described as Maltese grocers and caterers; one account with a Maltese credit institution
- Ownership: Anton C. 60% and Rachel V. 40%, both Maltese and resident in Malta, both directors. Unchanged since incorporation.
- Turnover: €2.6m for FY2024 (audited, unqualified) and €4.1m for FY2025 on management accounts. The FY2025 audit is not yet complete.
- Substance: staff have gone from 4 to 14; the company moved from a unit in Qormi to a larger warehouse in Ħal Far in 2024; two refrigerated vans are held on finance
- New business: a supply contract with a Maltese hotel and catering group won in 2024, and re-export of dry goods to a distributor in Pozzallo, Sicily, since early 2025
- Banking: a second account was opened in 2024 with an EU-authorised payment institution. The Sicilian receipts are paid into it. We have never seen a statement for it.
- Director's loan: €120,000 advanced by Anton C. and recorded in the FY2023 accounts was repaid to him during 2025
- Compliance: VAT returns filed and up to date; annual returns and accounts filed on time; screening on both shareholders remains clear
- The file: none of the above was reported to us. The risk assessment on file still records the November 2022 profile.