Covelec Ltd

Covelec Ltd from Cheddar, UK, is a small holding company with an active status, established 42 years ago in 1982. The company employs 16 people and holds £769,869 in assets. It’s managed by one director and one owner, and boasts a stellar 5.0 Google rating based on four reviews. Covelec operates as an irregular importer, primarily bringing in machinery, boilers, and mechanical appliances, with its last import activity occurring two months ago in June 2023.

The company's website, while not providing extensive details, indicates a focus on electrical motor repair and related services. It’s a private limited company registered in England and Wales, and its registered address is a real address with only one other company registered at the same location. The company’s operations are described as “other service activities n.e.c.” industries.

Financially, Covelec Ltd’s recent performance shows some concerning trends. Current assets have plummeted by 40%, dropping to £770,000, while net assets have also seen a significant decline, falling 50% to £470,000. Bank borrowings have decreased, and cash reserves have increased substantially, suggesting a temporary boost. However, trade debtors have also decreased, which could be a sign of slower customer payments. The company meets the criteria to be considered small, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The company's accounts are unaudited, and no auditor is mentioned.

While the company's Google rating is excellent, the financial data suggests it's facing some challenges. The decrease in assets and net assets, despite the increase in cash reserves, warrants closer monitoring. It’s possible these fluctuations are part of a seasonal cycle or reflect changes in business strategy.

Registered in England/Wales under the registration number 01653837, with a registered address at BS27 3RP, England, Cheddar, Somerset, Unit 4 Labourham Farm, Draycott Road.

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