Hydrospec Limited

Hydrospec Ltd from Essex UK: a small, active company founded 36 years ago, employs eight people, and holds £1,861,108 in assets. It's a family business with two directors and two owners, boasting a 4.0 Google rating from eight reviews. The company is an irregular importer of machinery, boilers, and mechanical appliances, with parts imported for just one month, the last operation occurring in October 2022.

The company operates in the specialised construction activities sector, and is a small business as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, and employees less than 50. While no website was found, this suggests a primarily business-to-business operation, likely relying on direct sales or partnerships rather than a public-facing online store.

Financially, Hydrospec Ltd shows a mixed picture. Cash reserves increased by a significant 36%, reaching £1.5 million, and current assets rose by 23% to £1.9 million. However, net losses deepened to -£23,000, and trade debtors increased by 38% to £300,000. Furniture, fittings, and tools equipment depreciated by 2.1%, and bank borrowings increased by 12.0%. The company’s small size and lack of an auditor (likely exempt) mean the figures are unaudited, but the increase in cash suggests a period of growth, despite the losses. The company’s bank borrowings increased, which could be a sign of expansion or a need to cover short-term expenses.

Registered in England/Wales under the registration number 02319035, with a registered address at SS9 1PE, Essex, 57a Broadway, Leigh-On-Sea.

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