Solaric Limited

Solaric Limited is a small, active company based in Norwich, UK, founded just one year ago in April 2023. It’s a solo-founded operation with one director and owner, Fakorede James Adewale, and holds £3,600 in net assets. The company’s registered address is real, with only one other company registered at the same location. Solaric Limited operates in the electrical installation, retail sale via mail order houses or via internet, and retail sale of electrical household appliances.

The company’s website, megaroofsolaricglobal.com, showcases a focus on rooftop solar projects, particularly in Bangladesh. It positions itself as a country's only RD driven solar focused and vertically integrated company, offering innovative solutions for factories. The site highlights a proven track record, including the installation of a 40 MWp solar project at the KEPZ in Chattogram, and boasts of being the country's largest rooftop solar energy producer, generating 30 GWh of green energy per year. The website is full of videos and information about their projects and services, and it’s clear they’re targeting industrial clients seeking renewable energy solutions.

Financially, Solaric Limited presents a picture of a very small company, meeting two of three criteria for a small company. Cash on hand is a modest £7, while creditors are £3,300. Equity remains stable at £3,600, but net current assets are a slim £340. The company’s accounts are abridged and unaudited, prepared in compliance with FRS 102, and there’s no mention of an auditor. The small number of employees (zero reported) suggests a lean operation, but the low cash reserves and reliance on creditors could indicate a need for careful financial management. It’s possible the company is reinvesting heavily in its projects, but the lack of substantial profits is noticeable. The accounts state that the company is entitled to exemption from audit under section 477 of the Companies Act 2006, which is common for small companies.

Registered in England/Wales under the registration number 14813013, with a registered address at NR2 4AB, England, Norwich, 194 St. Benedicts Street.

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