Drive System Design Limited

Drive System Design Ltd, based in Leamington Spa, UK, is a large, holding company with an active status, celebrating 17 years in business. Employing 71 people and boasting assets of £13,556,469, the company generated £17,077,045 in revenue last year. It’s a well-established player, with four directors and one owner, operating an e-commerce site and maintaining a 5.0 Google rating from 19 reviews. The company regularly imports and exports electrical machinery and equipment, with 26 months of import activity and 34 months of export activity recorded.

The company’s website highlights Drive System Design Ltd as a specialist in propulsion system engineering, offering services across automotive, aerospace, commercial vehicle, defence, marine, and off-highway sectors. They provide integrated system approaches, simulation-led design, development, and testing, and analysis of powertrain systems. The site details facilities in the USA, UK, and India, and emphasizes a global reach with offices in South Korea, Japan, and Australia. Recent news posts showcase expansions in capabilities, strengthened leadership, and the unveiling of a new EMC test cell.

Financially, Drive System Design Ltd presents a mixed picture. While turnover increased by a substantial 14%, comprehensive income decreased by 40%, and net assets dropped by 28%. Cash bank on hand experienced a significant 65% decline, falling to £1,900,000. However, administrative expenses surged by a staggering 100%, and amounts owed by group undertakings increased dramatically by 4000%. The company’s investments in fixed assets grew by 61%, and total assets less current liabilities increased by 39%. Despite these fluctuations, the company’s director remuneration increased by 58%, and the average number of employees grew by 23%. The company’s auditor, Dafferns LLP, issued an unqualified opinion on the financial statements.

The company’s growth in employee numbers and investment in facilities suggests a focus on expansion, but the decrease in cash reserves and increase in administrative expenses could indicate growing pains. The large increase in amounts owed by group undertakings may be a sign of internal funding arrangements. Overall, Drive System Design Ltd appears to be a dynamic company navigating a period of change, with its future success dependent on its ability to manage these financial pressures.

Registered in England/Wales under the registration number 06304697, with a registered address at CV31 1NB, England, Leamington Spa, Warwickshire, Unit B, Berrington Road.

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