Solveig Ltd

Solveig Ltd from London UK: small company, active status, founded 10 years ago, 2 employees, £204,662 assets, virtual address, 1 director, 1 owner. Regular importer of ceramic products (9 months imported). It’s a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50. The company operates in the floor and wall covering industries. Officially, it has one owner or PSCs, one director, and two employees.

The company is a regular importer, with its top import category being Ceramic products, totaling 9 months of imports. The last import operation was conducted on June 01, 2024. While there's no website to analyse, Solveig Ltd seems to be focused on importing and distributing ceramic products for the floor and wall covering sector.

Financially, Solveig Ltd presents a mixed picture. Current assets increased slightly to £200,000, but net assets decreased significantly to £19,000 – a worrying trend. Cash reserves grew substantially to £72,000, a positive sign, but trade debtors dropped by 54%, which could indicate payment issues or a shift in credit policies. Bank borrowings also decreased, which is good, but the large drop in equity suggests the company may be burning through cash to maintain operations. The company’s small size helps it stay nimble, but the equity decline warrants closer scrutiny. With no auditor mentioned, the financial statements are unaudited.

It’s clear that Solveig Ltd is facing some financial headwinds, despite its active import activity. Whether it can sustain its operations and growth remains to be seen, but the company’s focus on a specific niche—ceramic products for floor and wall coverings—could provide a competitive advantage.

Registered in England/Wales under the registration number 09471489, with a registered address at W1W 7LT, England, London, 85 Great Portland Street, First Floor.

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