Altitude Angel Ltd

Altitude Angel Ltd, based in Reading, UK, is a small, active company founded ten years ago in 2014. With 47 employees and £2,119,225 in assets, it operates from a virtual address – a fact highlighted by twenty other companies registered at the same location. The company is led by four directors, though no owners are officially listed. It’s an irregular importer, primarily dealing in electrical machinery and equipment, with just one month of imports recorded as of June 2023.

The company specializes in developing and providing drone and UTM (Unmanned Traffic Management) solutions. Its website showcases a range of services, including airspace data and services, drone operator tools, and cloud-based platforms for managing drone operations. Altitude Angel caters to a diverse clientele, from airports and authorities to drone manufacturers and commercial operators. They even offer a Detect and Avoid solution, enabling beyond visual line of sight (BVLOS) operations. The company's Skyway project, a network of "drone superhighways" connecting several cities in the UK, demonstrates its ambition to revolutionize airspace integration.

Financially, Altitude Angel Ltd has experienced some notable shifts. Current assets have decreased by 43% to £2,100,000, while net assets have fallen significantly by 74% to £950,000. Bank borrowings have increased by 37000%, reaching £170,000, and cash reserves have declined by 78% to £610,000. Creditors have also increased by 72% to £1,400,000. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the sharp decline in equity raises questions. The lack of an auditor (likely exempt as a small company) means the figures rely on unaudited statements.

In short, Altitude Angel Ltd is navigating a period of change. While its innovative UTM solutions and ambitious projects like Skyway position it for future growth, the recent financial trends suggest the company is burning through cash, and it’s important to monitor its performance closely.

Registered in England/Wales under the registration number 09350032, with a registered address at RG1 3BE, England, Reading, The Blade, Abbey Square.

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