Haptic Networks Limited

Haptic Networks Ltd, based in Northants, UK, is a small, active company founded 20 years ago. With 11 employees and £695,438 in assets, it’s a well-established business led by a solo founder and single director. The company enjoys a stellar 5.0 Google rating from 58 reviews, reflecting its strong customer service. It’s a regular importer of machinery, boilers, and mechanical appliances, with its last import activity recorded four months ago.

The company operates in the other information technology service activities industries, offering IT support and services in Kettering. Its registered address is real, with only one other company registered at the same location. The company has previously been known as Computer Products Limited, For Web Limited, and Seckloe 241 Limited.

Financially, Haptic Networks Ltd shows some concerning trends. While current assets increased by 43% to £700,000, net assets have plummeted 41% to £170,000. Bank borrowings have decreased by 5.7% to £110,000, and cash reserves have dropped a substantial 68% to £120,000. Creditors have risen dramatically, increasing by 96% to £690,000. Trade debtors have also increased significantly, ballooning by 400% to £580,000. The company meets the criteria for a small business, with a turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The lack of an auditor mentioned likely reflects its status as a small, exempt company. Depreciation on motor vehicles increased by 89%, which may be due to a recent purchase.

These financial shifts suggest the company is facing some challenges, potentially burning through cash faster than it’s generating revenue. It's possible that increased debtor levels are a temporary issue, or perhaps the company has invested heavily in growth initiatives. The significant rise in creditors warrants closer scrutiny, but it could also be a strategic move to manage cash flow.

Registered in England/Wales under the registration number 05305571, with a registered address at NN15 6PP, Northants, Unit 3 Orion Park Orion Way, Kettering.

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