First Tech1 Limited

First Tech1 Limited is a small, active company based in Nottingham, UK, founded six years ago. Confirmation of its accounts is currently overdue by three months, and it holds just £992 in assets. Run by a solo founder who also acts as director and owner, the company operates from a real address and boasts a lean structure with one director.

The company’s website, Xplor Technologies, reveals a more expansive operation. Xplor provides software and payment solutions to a range of industries, including education, fitness, field services, personal services, and payments. It focuses on vertical-specific SaaS, embedded payments, and growth technologies, offering services like childcare management, fitness studio software, and payment processing. The company's core offering appears to be empowering businesses with technology to grow, with a particular emphasis on recurring nature activities.

Financially, First Tech1 Limited’s situation appears precarious. Current assets have plummeted by 74%, dropping to just £992, while net assets have also decreased by 28% to £200. Cash reserves have fallen significantly, with bank holdings declining 26% to £990. Creditors have decreased substantially, but trade debtors remain steady at £2,400. The company’s small size (meeting two of three criteria for a small company) helps it stay nimble, but the sharp decline in equity and cash raises concerns. Although no auditor is mentioned (likely exempt as a small company), the accounts are described as unaudited and prepared under FRS 102.

The company’s focus on technology solutions seems promising, but the financial data suggests it's burning through cash. Whether it can sustain its growth trajectory with such limited resources remains to be seen—though the company’s website projects an image of a thriving, innovative business.

Registered in England/Wales under the registration number 11769918, with a registered address at NG7 3BW, England, Nottingham, 1a Lismore Close.

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