Newbury Electrical Services Ltd

Newbury Electrical Services Ltd, based in Newbury, UK, is a small, active company founded six years ago in 2018. Employing ten people and holding £139,858 in assets, it operates from a virtual address shared by many other companies – a bit of a red flag, really. The business is led by a solo founder and one director, Carl Lofthouse, and maintains a respectable 4.0 Google rating from nine reviews. It’s an irregular importer of electrical machinery and equipment, with just one month of imports recorded as of May 2023.

The company’s website, while not detailed, indicates a focus on electrical installation services. It’s a fairly standard operation, really, catering to commercial and industrial clients. It seems to be a straightforward, if not particularly innovative, business.

Financially, Newbury Electrical Services Ltd presents a mixed picture. Current assets have decreased by 9%, dropping to £140,000, while net assets have plummeted a staggering 95%, leaving just £1,600. Bank borrowings have increased by 36%, reaching £140,000, and cash reserves have fallen 140%, leaving only £11,000. Creditors have also increased, with current financial instruments rising by 36%. Despite these challenges, debtors have decreased significantly by 33%, suggesting improved collection efforts. The company qualifies as small, meeting two of three criteria: turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. As a small company, it’s exempt from an audit, so the figures are unaudited.

The company’s financial data suggests it’s struggling to maintain a healthy balance sheet. While it’s managed to reduce its debtors, the sharp decline in net assets and the increased reliance on borrowing are concerning. Whether this is a temporary setback or a longer-term trend remains to be seen, but it’s clear that Newbury Electrical Services Ltd needs to carefully manage its finances to ensure its continued success.

Registered in England/Wales under the registration number 11673643, with a registered address at RG14 1DY, England, Newbury, Berkshire, 2 Toomers Wharf, Canal Walk.

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