Naked Solar Ltd.

Naked Solar Ltd, based in Newquay, UK, is a small, active company founded thirteen years ago in 2011. With thirty-six employees and £1,216,747 in assets, it’s a well-established player in the local solar industry. The company is led by three directors and owned by Sampson Tony Lea, who also serves as a founder. It regularly imports aluminum and aluminum products – nineteen months worth, with the most recent in February 2024 – and occasionally exports electrical machinery and equipment, with just one month of export activity recorded in April 2022.

The company’s website paints a picture of a customer-focused installer, winning awards and emphasizing impartiality. They offer a wide range of solar solutions, from standard installations to storage options like Tesla Powerwall and GivEnergy, and even offer training and apprenticeships. The site highlights their commitment to sustainability and independence, even offering a “Try before you buy” option. It’s clear they’re targeting homeowners and businesses looking to reduce their carbon footprint and energy bills.

Financially, Naked Solar Ltd’s recent performance shows some concerning trends. Current assets have fallen by a significant 33%, dropping to £1,200,000. Net assets also decreased, falling 41% to £950,000. Bank borrowings have surged by an impressive 2,400%, reaching £29,000, and cash reserves have fallen 30% to £540,000. However, creditors have decreased by 18%, suggesting improved debt management. 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 remain agile, but the sharp equity drop raises questions. With no auditor mentioned, the figures rely on unaudited statements.

The company’s increasing reliance on bank borrowings, coupled with the decrease in cash reserves, suggests it may be burning through money faster than it’s bringing it in. Perhaps the surge in demand caused by rising energy bills, mentioned on the website, has led to increased investment and expansion, straining its financial resources. It’s possible that the company is experiencing growing pains as it scales up its operations, but the trend warrants close monitoring.

Registered in England/Wales under the registration number 07740412, with a registered address at TR8 4DS, England, Newquay, Cornwall, 7 Quintdown Business Park West Road, Quintrell Downs.

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