New Net Technologies Ltd

New Net Technologies Ltd, a small holding company based in London, UK, has been active for nineteen years, employing seventeen people and holding assets of £5,527,832. Founded in 2005, the company operates from a virtual address—a detail flagged by the registration of 550 other companies at the same location—and is led by four directors and one owner. It boasts a perfect 5.0 Google rating based on a single review. The company is an irregular importer, primarily dealing with electrical machinery and equipment, with its last import activity occurring in July 2024.

The company’s website, while not providing detailed e-commerce information, indicates involvement in business and domestic software development. It appears to be a service-oriented business rather than a retail operation.

Financially, New Net Technologies Ltd presents a mixed picture. While current assets increased by 55% to £5,500,000, other key indicators raise concerns. Net losses deepened to -£23,000, and cash reserves dropped significantly by 58% to £69,000. Bank borrowings surged by 2,400% reaching £29,000, and trade debtors ballooned by 59% to £5,500,000. Creditors, however, decreased by 72% to £68,000, suggesting improved debt management. The company’s small size—meeting two of three criteria for a small company—helps it remain agile, but the decline in equity and cash reserves warrants closer scrutiny. The company’s auditor, SAS Audit Limited, has reported unqualified accounts. It's likely that the company is burning through cash to grow, but it's important to monitor these trends closely.

Registered in England/Wales under the registration number 05601327, with a registered address at EC4A 3TW, United Kingdom, London, 5 New Street Square.

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