Solen Limited

Solen Limited is a small, active company based in Widnes, UK, founded seven years ago in 2018. It operates as an e-commerce site specializing in solar and electrical products, catering to trade account customers. With a single director and owner, Coban Mehmet, and one employee, the company holds £2,918 in assets and uses a virtual address registered with 291 other companies. It’s a solo founder operation, and the company’s website highlights its distribution services for solar panels, EV chargers, and related equipment.

The company’s website, Solen Energy, presents a professional online marketplace with detailed product listings, manufacturer information, and a focus on quick order capabilities. It’s a trade-focused business, requiring login for access to pricing and account management. The site also features a blog with news and insights related to the solar and electrical industries. While the company operates in the other retail sale of new goods in specialised stores, it’s clear that its focus is on the renewable energy sector.

Financially, Solen Limited is showing concerning trends. Current assets have plummeted by a staggering 90%, dropping to just £2,900, while bank cash has fallen even further to £2,900. Debtors have also decreased significantly, falling 89% to £44. Creditors, however, have also declined by 22%, suggesting some improvement in managing short-term liabilities. Equity has remained constant at -£200,000, indicating ongoing losses. 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 decline in cash reserves is a cause for concern. The accounts are abridged and unaudited, and no auditor is mentioned, relying on director-reported data.

Overall, Solen Limited appears to be struggling financially. While its e-commerce platform presents a professional image, the sharp decline in cash reserves suggests the company is burning through money. Whether it can sustain its operations and turn a profit remains to be seen, but the current trajectory is not encouraging.

Registered in England/Wales under the registration number 11206784, with a registered address at SE11 5QU, United Kingdom, London, 239-241 Kennington Lane.

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