Korelogic Limited

Korelogic Limited, based in Leeds, UK, is a small, active company founded 14 years ago in 2010. Employing 22 people and holding £250,810 in assets, it operates from a virtual address shared by 24 other companies, raising some questions. The company is led by a solo founder and one director, and boasts a perfect 5.0 Google rating from four reviews. It's an irregular importer, primarily dealing in machinery, boilers, and mechanical appliances, with its last import operation dating back to May 2020.

The company's website highlights its focus on designing, building, and maintaining bespoke applications, products, and data services for businesses. It offers a range of services, including web application development, full-stack engineering, embedded systems, iOS and Android app development, and cloud platform consultation. It also offers managed maintenance services and showcases three products: Redbox (a multivendor marketplace management system), Paybox (a secure payment processing product), and Waybox (a delivery service optimisation platform). The site is well-designed and clearly aimed at attracting clients seeking custom digital solutions.

Financially, Korelogic Limited presents a mixed picture. While fixed assets increased significantly by 62%, current assets declined sharply by 41% to £250,000. Net assets also took a hit, dropping 49% to £150,000. Cash reserves plummeted 51% to £130,000, and bank borrowings increased, suggesting a need for external funding. Creditors also increased, although at a more moderate 17%. The company’s small size (meeting two of three criteria for a small company) allows for agility, but the decline in equity and cash is concerning. The lack of an auditor mentioned suggests it’s exempt as a small company, and the figures are unaudited.

The company’s focus on bespoke digital solutions is a strength, but the financial data suggests it’s burning through cash. The company’s reliance on a single owner and director could also be a risk, although the team seems passionate about their work. It's clear that while Korelogic has a strong offering, it needs to manage its finances carefully to ensure its long-term sustainability.

Registered in England/Wales under the registration number 07352553, with a registered address at LS12 2DS, England, Leeds, Castleton Mill, Castleton Close.

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