Exec Spec Limited

Exec Spec Ltd, based in Ilkeston, UK, is a small, active company established 21 years ago. With four employees and £129,813 in assets, it’s a modest operation managed by two directors and a single owner, boasting a stellar 5.0 Google rating from 89 reviews. The company is an irregular importer of electrical machinery and equipment, with the last import recorded one month ago in January 2023.

Exec Spec’s website showcases a wide range of automotive services and products, from car audio and security systems to van racking and window tinting. It’s clearly an e-commerce focused business, with a detailed product catalog and online ordering capabilities. The site also highlights fleet installations and ECU remapping services, suggesting a B2B component alongside its retail offerings. They even have a section dedicated to Rhino Products, indicating a partnership with the well-known brand.

Financially, Exec Spec Ltd’s recent report reveals some concerning trends. Accumulated depreciation on computer equipment increased by 17%, and furniture fittings by 11%, suggesting investment in infrastructure. However, bank borrowings have risen significantly, increasing by 190% to £15,000, while cash reserves have decreased by 6% to £74,000. Creditors also increased by 13%, reaching £95,000. The number of employees decreased by 25%, dropping to just three. Equity has fallen by 34%, resulting in a net assets liability of £12,000. The company’s small size—meeting two of three conditions for being classified as small—helps it remain nimble, but the drop in equity is a point of concern. As a small company, it is exempt from an audit, so the figures are unaudited.

Despite these financial pressures, Exec Spec Ltd appears to be a well-regarded business with a strong online presence and a diverse range of automotive services. Whether it can sustain its growth and profitability in the face of rising costs and declining equity remains to be seen.

Registered in England/Wales under the registration number 04936438, with a registered address at DE7 4RJ, England, Ilkeston, Unit 4 Langham Park Lows Lane, Stanton-By-Dale.

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