Changeover Technologies Limited

Changeover Technologies Ltd, based in Belfast, UK, is a small, active company founded sixteen years ago in 2009. Employing eleven people, it holds £101,007 in assets and operates from a real address shared with two other companies. Six directors oversee the business, although no owners are officially registered. The company regularly imports machinery, boilers, and mechanical appliances, with parts imported for three months, the last operation happening in November 19.

The company’s website highlights its focus on providing “greener solutions” for waste cleanup and reuse. It’s researching and developing pelletizing technology to convert discarded waste streams into environmentally friendly pellets for recycling. Their patented formula and pelletising technology are tested by independent laboratories. The company also has a focus on sustainability, investor relations, and even a Real Living Wage accreditation. A recent award to their Executive Chairman, Mervyn McCall, adds to their positive image.

Financially, Changeover Technologies Ltd shows a mixed picture. Current assets have plummeted by a staggering 80%, dropping to just £100,000. Cash reserves have also taken a hit, decreasing by 91% to £30,000. Bank borrowings have disappeared completely, and creditors have decreased by 67%. Net assets have also declined significantly, resulting in a negative equity of -£510,000. The company’s small size (meeting two of three conditions for being small) helps with agility, but the substantial decline in equity raises concerns. As a small company, it's likely exempt from a formal audit, meaning the figures are unaudited.

The company’s focus on green technology and sustainability is promising, but the financial data suggests it’s burning through cash. Whether this is a temporary setback or a longer-term challenge remains to be seen.

Registered in Northern Ireland under the registration number NI071902, with a registered address at BT1 6HL, Northern Ireland, Belfast, C/O Dwf Llp, 42 Queen Street.

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