Icom Scottech Limited

Icom Scottech Limited, based in Kelso, Scottish Borders, UK, is a small, active company founded 24 years ago in 2000. With 20 employees and £657,193 in assets, it operates from a real address and is overseen by three directors and one owner. The company regularly imports electrical machinery and equipment, with 18 months of import activity recorded, the latest in October 2024.

The company’s website, Icom Scottech, describes itself as a manufacturer of electronic components, with a focus on providing bespoke solutions for various industries. While the website doesn’t explicitly mention e-commerce, it highlights a range of services, including design, prototyping, and manufacturing. It seems the business operates more as a B2B supplier rather than a direct-to-consumer retailer.

Financially, Icom Scottech Limited shows some concerning trends. Current assets have fallen by 26%, dropping to £660,000, while net assets have also decreased by 19%, settling at £500,000. Bank borrowings have increased by 8.5%, reaching £76,000, and cash reserves have plummeted 83%, leaving just £21,000. On a positive note, creditors have decreased by 15%, suggesting improved debt management. The company’s small size (meeting two of three conditions for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the decline in equity is a notable concern. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

The company's trend of decreasing cash reserves and increasing bank borrowings could indicate that it is burning through money faster than it is generating revenue. It’s possible that the company is investing in new equipment or expanding its operations, but the lack of detail in the report makes it difficult to say for sure. The decrease in net assets, while concerning, could be due to a number of factors, such as depreciation or a decrease in the value of its assets. Overall, Icom Scottech Limited appears to be facing some financial challenges, but its small size and focus on niche markets could help it weather the storm.

Registered in Scotland under the registration number SC211772, with a registered address at TD5 8EU, Scottish Borders, Sprouston Road, Kelso.

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