Octa It Ltd

Octa It Ltd, based in Ashford, UK, is a small, active company founded six years ago. With just one employee and £878 in assets, it operates from a virtual address and is led by a single director and owner. The company regularly imports electrical machinery and equipment, with 45 months of import activity recorded. It’s also involved in providing accounting services, as evidenced by its website.

The website, Octa Accountants, presents a more expansive picture. It’s a tech-driven accounting firm offering a wide range of services, including bookkeeping, VAT registration, virtual CFO services, audit assurance, and company incorporation. The firm caters to a diverse clientele, from sole traders and startups to larger businesses, across various industries like retail, healthcare, and creative sectors. It even has a presence in Singapore and Pakistan, suggesting international expansion. The website also features a blog with articles on topics like automation in accounting and UK corporation tax.

Financially, Octa It Ltd’s recent report paints a mixed picture. Current assets have dramatically decreased by 93%, dropping to just £880, while net assets have also fallen significantly by 20%, reaching -£10,000. Liabilities have also decreased, which is a positive sign. Cash reserves are down 22%, and accrued liabilities have increased by 33%. Trade debtors have plummeted by 97%, which could be due to a change in payment terms or a reduction in sales. The company’s small size (meeting two of three criteria for a small company) allows for flexibility, but the decline in equity is concerning. The report is unaudited, and no auditor is mentioned, which is common for small companies.

The company's focus on a wide range of accounting services, coupled with its international reach, suggests an ambition beyond its current financial standing. It’s possible the company is investing heavily in growth, which could explain the decline in equity. However, the sharp drop in assets and cash reserves warrants close monitoring.

Registered in England/Wales under the registration number 11533294, with a registered address at TN27 0JS, England, Ashford, Kent, King Arthurs Court Maidstone Road, Charing.

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