Innova Engineering Limited

Innova Engineering Ltd, based in Gloucester, UK, is a small, active company established thirteen years ago in March 2012. With a single employee and £526,962 in assets, it's a lean operation managed by one director and owner. The company’s registered address is real, with only one other company registered at the same location. It operates as a regular importer of electrical machinery and equipment, with recent activity in January 2024, and occasionally exports machinery, boilers, and mechanical appliances, last recorded in October 2024.

The company’s activities appear to center around the manufacture of computers and peripheral equipment, as well as providing information technology consultancy services. A quick search reveals a website, though it’s currently unavailable, suggesting a focus on B2B rather than direct consumer sales. It’s likely that Innova Engineering Ltd operates as a supplier or consultant within the tech sector, rather than a retail business.

Financially, Innova Engineering Ltd presents a mixed picture. While cash bank on hand remains relatively stable at £320,000, creditors have increased significantly, rising by 320% to £260,000. Trade debtors have also increased, by 160% to £93,000, which could indicate challenges in collecting payments. Equity has decreased by 25% to £340,000, a concerning trend that warrants further investigation. Despite these challenges, the company’s net current assets have also decreased by 25% to £270,000. The company is classified as a small entity, meeting two of three conditions: turnover less than £10.2 million, balance sheet total less than £5.1 million, and average number of employees less than 50. There is no auditor mentioned, which is common for small, exempt companies.

Overall, Innova Engineering Ltd appears to be navigating a period of change. While it maintains a stable asset base and cash position, the increase in liabilities and decrease in equity suggest it's burning through money. The company’s long-standing presence and focus on specialized services indicate resilience, but careful management will be crucial to ensure its long-term viability.

Registered in England/Wales under the registration number 07977942, with a registered address at GL2 4PN, Gloucester, The Old Rectory School Lane, Quedgeley.

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