Conveyortek Limited

Conveyortek Limited, based in Belfast, UK, is a small, family-run business with an active status. Incorporated sixteen years ago in March 2009, the company employs fifty-six people and holds assets totaling £2,144,089. It operates from a real address, managed by four directors and five owners. The company regularly imports and exports machinery, boilers, and mechanical appliances, with parts, having imported for ninety-seven months and exported for ten months.

The company’s core business involves manufacturing, distribution, and servicing of industrial belts. It also has a division dedicated to high-end piano restoration, operating from Cambridge and even featuring a showroom in Harrods, London. The piano division specializes in museum-grade restorations, self-play system integrations, and disaster recovery for damaged pianos.

Financially, Conveyortek Limited shows some concerning trends. Net assets declined by 72%, dropping to £920,000, while bank borrowings increased significantly, reaching £79,000. Cash reserves also fell by 52%, down to £340,000. Trade debtors increased by 30%, suggesting potential issues with customer payments, and creditors decreased by 22%, which could be a positive sign of improved debt management. 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 flexibility, but the sharp decline in equity raises questions. The unaudited financial statements, without an auditor mentioned, rely on director-reported data.

Despite these challenges, Conveyortek’s dual focus on industrial belts and piano restoration suggests a diversified approach. The company’s strong presence in the piano market, with its Harrods showroom, indicates a commitment to high-quality craftsmanship and a premium brand image. Whether this diversification can offset the financial pressures remains to be seen.

Registered in Northern Ireland under the registration number NI072052, with a registered address at BT1 6JH, Northern Ireland, Belfast, C/O Grant Thornton, 12 - 15 Donegall Square West.

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