Smart Heating Services Ltd

Smart Heating Services Ltd, based in Exeter, UK, is a small, active company founded ten years ago. With three employees and £79,409 in assets, it’s a solo-founded operation managed by a single director and owner, Covaci Horea Ioan. The company regularly imports machinery, boilers, and mechanical appliances—parts, with 12 months of import activity recorded.

The company operates in the other engineering activities industries, offering domestic, commercial, and smart heating services. Its website highlights expertise in boiler services, gas installations, plumbing, and smart home controls. It caters to both residential and organizational needs, including schools, care homes, and hospitals. The site emphasizes a "SMART Guarantee" and a bespoke, friendly service, with over a decade of experience in smart systems. It even has a competition for a Nest 3 thermostat.

Financially, Smart Heating Services Ltd shows some concerning trends. Cash bank on hand decreased by 21%, dropping to £67,000, while current assets declined by 17%, settling at £79,000. Bank borrowings surged by 450%, reaching £120,000—a significant increase. Creditors also rose, jumping 450% to £120,000. However, trade debtors increased by 20%, suggesting improved customer payments. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it remain agile. The increase in bank borrowings and decrease in cash reserves, however, raise questions about its financial health. No auditor is mentioned, likely due to its small company status.

While the company appears to be actively marketing its services and gaining positive customer reviews, the financial data suggests it may be burning through cash. Whether it can sustain this growth remains to be seen.

Registered in England/Wales under the registration number 09440827, with a registered address at EX5 7DD, England, Exeter, 24 St. Michaels Way, Cranbrook.

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