Inov8 Medical Solutions Limited

Inov8 Medical Solutions Ltd, based in Chesterfield, UK, is a small, active company founded 14 years ago. Employing 10 people, it holds £388,951 in assets and operates from a real address within the Tapton Park Innovation Centre. With one director and two owners, the company is a regular exporter of plastics and plastic products (13 months), but an irregular importer of paper and paperboard (2 months).

The company’s website reveals a core business: designing, manufacturing, and supplying modular pharmacy shelving. It’s a leading provider, boasting 40 years of experience and serving clients like Boots, Rowlands, and even the Ministry of Defence. Beyond shelving, Inov8 Medical offers design services, repair options, and even custom shelving solutions with 3D imaging mockups. The website highlights a wide range of shelving options, including pull-out drawers and deep storage units, catering to various needs within pharmacies and other healthcare settings.

Financially, Inov8 Medical shows some concerning trends. Accumulated amortisation and impairment of intangible assets increased by 13%, while depreciation of plant and machinery decreased by 8.5%. Advances to directors increased significantly by 61%, but advances repaid were zero. Bank borrowings remained steady, but cash reserves grew by a healthy 54%. Creditors remained relatively stable. However, a significant drop in equity, down 6.7%, is noticeable, with net assets declining to -£1,100,000. The company meets the criteria for a small company, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. With no auditor mentioned, the figures are unaudited.

The increase in directors advances, combined with the negative equity, suggests the company may be relying on external funding to maintain operations. While its established presence in the pharmacy shelving market and strong customer base are positives, the financial data indicates a need for careful management to ensure long-term stability.

Registered in England/Wales under the registration number 07400323, with a registered address at S41 0TZ, Chesterfield, Derbyshire, C/O Smith Craven Tapton Park Innovation Centre, Brimington Road.

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