Ibasis Limited

Ibasis Limited, based in Bolton, UK, is a small, active company founded 17 years ago in 2008. With a single employee and £57,626 in assets, it operates from a virtual address—a point of interest, as 116 other companies are registered at the same location. The company has two directors and one owner, and runs an e-commerce site.

The website, iBasis Domestic and Commercial Spares, positions itself as a "Heating Parts Finder," offering a searchable database of boiler spares. It’s a subscription service, charging £99 a year for access to over 1.5 million parts, diagrams, and manuals. The site targets stockists, contractors, and engineers, promising to streamline the process of finding the right spare part. The site also offers website integration services. The company manufactures parts and supplies them to manufacturers like Actu, Alcon, and Andrews Water Heaters.

Financially, Ibasis Limited presents a mixed picture. Cash bank on hand decreased by 12% to £23,000, while creditors increased dramatically by 220% to £58,000—a significant jump. Trade debtors, however, exploded by 3,100% to £35,000, which could indicate a change in payment terms or a period of delayed customer payments. Equity has also plummeted by 94% to just £560, a concerning trend. While the company meets the criteria for a small business (turnover under £10.2m, assets under £5.1m, and fewer than 50 employees), the decline in equity and the rise in creditors suggest potential financial pressures. The accounts are abridged and unaudited, and were prepared by Xeinadin Group. It's likely that the company is burning through cash, though the increase in debtors might be a temporary factor.

Registered in England/Wales under the registration number 06555489, with a registered address at BL1 2RZ, England, Bolton, Regent House, Folds Road.

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