Safetech Innovation Limited

Safetech Innovation Ltd from Manchester UK: small company, active status, founded 4 years ago, 6 employees, £150,811 assets, real address, 1 director, 1 owner. It’s a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50. The last reported current assets is £150,811. The company operates in the wholesale of household goods (other than musical instruments) n.e.c., the retail sale via mail order houses or via internet, and other business support service activities.

The company’s website is currently unavailable, making it difficult to ascertain the specifics of its online presence. However, its business activities suggest a blend of wholesale and retail operations, possibly including an e-commerce component, though this can’t be confirmed without access to the website. It’s likely that the company is selling goods online and through mail order, potentially targeting a broad consumer base with household items.

Financially, Safetech Innovation Ltd presents a mixed picture. While the company holds £150,811 in current assets, its equity has plummeted to -£11,000, a significant reversal from the previous year’s £11,000. Cash reserves have also shrunk dramatically, falling by 92% to just £1,300. Trade debtors increased by 11%, suggesting a potential challenge in collecting payments, and creditors rose by 5.5% to £160,000. The reduction in the number of employees from six to one is a notable shift, possibly reflecting cost-cutting measures or a change in operational strategy. The company’s small size and the lack of an auditor (likely exempt due to its size) mean the figures rely on director-reported data.

In conclusion, Safetech Innovation Ltd appears to be navigating a period of financial strain. While it maintains a real address and a small team, the decline in equity and cash reserves, alongside the reduction in employees, suggests a company facing challenges. The reasons behind these trends could be varied, from increased competition to rising costs, but it's clear that the company needs to address these issues to ensure its long-term viability.

Registered in England/Wales under the registration number 13130355, with a registered address at M11 2DU, England, Manchester, 22-26 Kay Street.

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