Otolift Stairlifts Limited

Otolift Stairlifts Ltd, based in Consett, UK, is a small, active company founded thirteen years ago in 2011. With six employees and £1,516,445 in assets, it’s a modest operation managed by four directors and a single owner. The company regularly imports machinery, boilers, and mechanical appliances – parts, with recent activity in March 2024, and exports similar items, last recorded in December 2023. It’s a real address, which is good.

The company’s website highlights its focus on providing “reliable stairlift solutions” for homes. Otolift offers a product called ModulAir, emphasizing custom-made solutions and innovative technology. It’s a good website, with a lot of information. They boast over 200,000 stairlifts sold worldwide and operate in over 45 countries, showcasing a surprisingly international reach despite its small size. They also have a history dating back 135 years, which is impressive.

Financially, Otolift Stairlifts Ltd presents a mixed picture. While cash bank on hand increased significantly by 47% to £820,000, current assets decreased by 19% to £1,500,000. Trade debtors increased by 11%, suggesting a possible delay in customer payments. Creditors decreased by 35%, which is a positive sign. The company meets the criteria for a small company – turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. Bank borrowings increased by 2400%, which is concerning. The lack of an auditor mentioned suggests the company is exempt as a small entity, relying on unaudited financial statements.

Overall, Otolift Stairlifts Ltd seems to be navigating a period of change. While cash reserves are healthy, the decrease in current assets and increase in bank borrowings suggest it’s burning through money a bit faster than it’s bringing it in. The company’s international reach and focus on custom solutions are strengths, but managing its finances will be key to its long-term success.

Registered in England/Wales under the registration number 07867994, with a registered address at DH8 6BN, Consett, Co Durham, Unit 53 Consett Business Park.

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