Boracco It Solutions Ltd

Boracco It Solutions Ltd, a small, active company based in London, UK, was founded five years ago in February 2020. The firm, with a single director and owner—Millan Jose Martin—operates from a virtual address shared by 701 other companies, and currently holds £39,827 in assets. Accounts are overdue by a year, and confirmation statements are 12 months behind, suggesting potential administrative challenges. The company's core business involves a range of activities, including acting as agents for various goods, providing IT consultancy, and offering other information technology and service activities. It’s also an irregular importer, with its top import category being drinks, alcohol, and vinegar, totaling two months of imports, the latest being April 2023.

The company's website, Baracco Group Limited, presents a different picture. It’s positioned as a professional packaging company, supplying products to various industries. The site highlights a focus on quality products and guidance for clients, with a particular emphasis on packaging solutions. It also mentions US and Asian locations, with contact information for both. The website’s design is simple, with a focus on contact information and a brief description of services. It’s clear that the company is trying to establish itself as a reliable packaging supplier, though the connection to the IT services offered by Boracco It Solutions Ltd isn’t immediately apparent.

Financially, Boracco It Solutions Ltd is showing signs of strain. While bank borrowings have remained steady at £50,000, cash reserves have fallen to £39,000. Creditors have also remained constant at £50,000. More concerning is the negative equity, currently standing at -£11,000, a decline from the previous year. Although the company meets the criteria for a small business (turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees), the negative equity suggests it’s burning through money. The lack of employees (zero reported) hints at a lean, possibly solo operation. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements. The company’s website suggests it's trying to expand its reach, but the financial data paints a picture of a business struggling to stay afloat.

Registered in England/Wales under the registration number 12475377, with a registered address at N16 9BS, England, London, 17 Green Lanes.

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