Scion Tech Limited

Scion Tech Ltd, based in Thatcham, UK, is a small, active company founded twelve years ago. With two employees and £177,984 in assets, it’s a modest operation managed by three directors and one owner. The company regularly imports electrical machinery and equipment, having done so for nineteen months, with the latest import in August 2023. It also exports these items, albeit irregularly, with just two months of export activity recorded as of September 2022.

Scion Tech Ltd operates as a provider of security, fire protection, and connectivity solutions, catering to both residential and commercial clients. Its website details a range of services, including CCTV installation, access control, intruder alarms, fire alarm systems, and broadband/phone solutions. It even has a showroom in Harrods, London. The company emphasizes its commitment to innovation and excellence, positioning itself as a trusted partner for businesses seeking to consolidate their services.

Looking at the financial data, Scion Tech Ltd shows some concerning trends. Current assets have fallen by a significant 41%, dropping to £180,000, while net assets have plummeted 100%, leaving just £2 in the bank. Bank borrowings have increased by 14%, reaching £7,700, and cash reserves have vanished entirely. Creditors have also decreased, suggesting better debt management. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the dramatic equity decline is a red flag. There is no auditor mentioned, which is typical for small companies exempt from an audit.

The company's focus on security and connectivity, coupled with its established presence in the market, suggests potential for growth. However, the recent financial downturn indicates a need for careful management and possibly a reevaluation of its business strategy. It’s unclear whether the company is burning through money or simply experiencing typical startup turbulence, but the sharp decline in equity warrants close monitoring.

Registered in England/Wales under the registration number 08253891, with a registered address at RG18 3DL, England, Thatcham, Berkshire, 82 Mersey Way.

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