Kiteswarms Limited

Kiteswarms Limited is a small, active company based in London, UK, founded seven years ago in 2017. It operates with a solo founder, one director, and a single employee, holding assets valued at £591,734. The company’s registered address is a virtual one, shared by forty-two other businesses, which raises a little concern.

Kiteswarms Limited is pioneering airborne wind energy technology. Its website details a solution involving a kite tethered to a ground-based generator, designed to harness wind at high altitudes—far more efficient than conventional wind turbines. The company emphasizes reduced material usage, stable energy output, and minimal environmental impact. It’s currently funded by European Union programs, and its technology is being tested and developed, with news updates detailing progress in auto-landing and aerodynamic advancements. The company’s website also mentions a location in Norway, and it’s clear they are heavily invested in research and development.

Financially, Kiteswarms Limited presents a mixed picture. While cash bank on hand has decreased significantly, dropping 78% to £13,000, creditors have increased by 2.8% to £6.3 million. The company’s equity has taken a hit, declining 26% to -£1.2 million. Although the company’s net current liabilities are substantial, the fact that creditors are so high could indicate they are using debt to fuel growth and development. 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 agility, but the decrease in equity suggests it’s burning through money. With no auditor mentioned (likely exempt as a small company), the figures rely on director-reported data.

It seems Kiteswarms Limited is a high-risk, high-reward venture. The company’s innovative technology holds promise, but its financial situation indicates it’s relying heavily on external funding and facing challenges in managing its cash flow.

Registered in England/Wales under the registration number 10735579, with a registered address at SW19 7JY, United Kingdom, London, C/O Wsm, Connect House 133-137 Alexandra Road, Wimbledon.

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