Innovation Automotive Ltd

Innovation Automotive Ltd, based in Cirencester, UK, is a small, active company founded seven years ago in 2017. With ten employees and £3,495,727 in assets, it's a family business led by a single director and two owners. The company has a real address and boasts a 4.0 Google rating from nine reviews. It's a regular importer of vehicles, parts, and accessories (excluding trains or trams), with 14 months of import activity recorded, the latest being February 2025.

The company’s website showcases a focus on affordable electric commercial vehicles, particularly the EC35 and BE11 models. It positions itself as a provider of electric benefits without the price premium, offering dealer stock and support packages. The website highlights a five-year warranty, an eight-year battery warranty, and nationwide after-sales partners. It’s clear they are targeting businesses looking to transition to electric vehicles, emphasizing ease of switch and lower total cost of ownership.

Financially, Innovation Automotive Ltd presents a mixed picture. Accumulated amortisation impairment for intangible assets increased significantly by 220%, while depreciation for property, plant, and equipment rose by 36%. Cash bank on hand, however, plummeted 71% to £120,000. Creditors surged by 92%, and trade debtors increased by 130%, suggesting potential cash flow challenges. Despite these pressures, raw materials and inventories both increased by 53%, indicating a focus on stocking up. Tax payable jumped 2200%, which is a big change. The company's small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay nimble, but the decrease in net assets—a 170% increase to -£4.3 million—is a cause for concern. As a small company, it is exempt from an audit, so the figures are unaudited.

Overall, Innovation Automotive Ltd seems to be navigating a period of growth and change, but its financial health requires close monitoring. The company’s focus on electric vehicles and its family-run structure could be strengths, but the rising debt and decreasing cash reserves are something to keep an eye on.

Registered in England/Wales under the registration number 11065805, with a registered address at GL7 1XD, England, Cirencester, Glos, First Floor, Unit 101-102 Cirencester Business Park, Love Lane.

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