Innovative Technology Limited

Innovative Technology Ltd, based in Oldham, UK, is a large, holding company with an active status, having operated for 39 years. Employing 176 people and holding assets worth £38.748 million, it’s a significant player in its sector. The company, overseen by ten directors and owned by Bellis Holdings Ltd, boasts a 4.0 Google rating from seven reviews. It’s a regular importer and exporter of machinery, boilers, and mechanical appliances; parts, with 424 months of import activity and 662 months of export activity recorded.

The company’s website details its core business: the design, assembly, and distribution of equipment for automated transactions. This includes a focus on self-service kiosks and related technologies, serving a global customer base. While the primary focus is on automated transaction equipment, the company also appears to have a presence in the piano restoration business through its subsidiary, 1066 Pianos.

Financially, Innovative Technology Ltd presents a mixed picture. Current assets increased by 18%, reaching £39 million, while net assets increased by 32% to £36 million. However, bank borrowings increased by a substantial 2,400%, reaching £29 million, and cash reserves fell 30% to £28 million. Creditors decreased by 18%, suggesting improved debt management. The company meets two of three criteria to be considered a large company, with turnover exceeding £36 million and balance sheet total exceeding £18 million. The lack of auditor information suggests the company is exempt from mandatory auditing.

The significant increase in bank borrowings, despite the growth in assets, is a point of interest. It could be attributed to investments in new equipment, expansion into new markets, or perhaps a strategic shift in financing. The decrease in cash reserves, coupled with the increased debt, warrants further monitoring to ensure the company maintains financial stability. Overall, Innovative Technology Ltd appears to be a well-established company navigating a period of growth and investment, but with some financial pressures that need careful management.

Registered in England/Wales under the registration number 01954947, with a registered address at OL1 4EQ, Oldham, Lancashire, Innovative Business Park, Derker Street.

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