Solatek Ltd

Solatek Ltd from Swindon UK: a small, active company founded seven years ago, employs six people, and holds £278,838 in assets. With two directors and two owners, the company operates from a real address and regularly imports and exports machinery, boilers, and mechanical appliances; parts. It’s a regular importer, with its top import category being Machinery, boilers, and mechanical appliances; parts, totaling 5 months of imports. The last import operation was conducted on March 01, 2024. The company is a regular exporter, with its top export categories including Machinery, boilers, and mechanical appliances; parts, totaling 63 of months exports. The last export operation took place on December 01, 2024. The company operates in the wholesale of computers, computer peripheral equipment and software industries.

The company’s website is minimal, lacking detailed information about its operations beyond its core business of importing and exporting industrial equipment. There's no obvious e-commerce presence, suggesting a business-to-business model rather than direct consumer sales. It's hard to tell if the company has any other ventures.

Financially, Solatek Ltd shows some concerning trends. While current assets increased by 9.5% to £280,000, net assets plummeted 31% to £75,000. Bank borrowings decreased by 55% to £15,000, which is good, but cash reserves disappeared completely, dropping 100% to zero. Creditors increased by 53% to £220,000, which could indicate the company is relying on credit to maintain operations. 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 stay agile, but the significant drop in equity raises questions about its financial stability. With no auditor mentioned, the figures rely on unaudited statements.

The company’s reliance on credit and the complete depletion of cash reserves suggest it's burning through money. While the import and export activity remain consistent, the financial data indicates a need for careful management and potentially a review of operational costs.

Registered in England/Wales under the registration number 10748401, with a registered address at SN2 8BB, United Kingdom, Swindon, Wilts, Unit 8 Rockhaven Park, Kembrey Street.

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