Sovereign Medical Limited

Sovereign Medical Ltd, based in Stansted, UK, is a small, family-run business with an active status, having been established 24 years ago. The company employs 19 people and holds £1,964,228 in assets. With three directors and two owners, it operates from a real address and is a regular importer and exporter of optical and medical tools and devices, with 142 months of import activity and 6 months of export activity recorded.

The company’s operations center around the retail sale of medical and orthopaedic goods, and it seems to be a well-established player in its niche. While a website isn’t available to analyze, the company’s activities suggest a focus on distribution and sales within the medical sector.

Financially, Sovereign Medical Ltd’s recent performance shows some concerning trends. While current assets increased by 49% to £2,000,000, net assets only increased by 12% to £960,000. Bank borrowings surged by a significant 660% to £76,000, and cash reserves plummeted 99% to just £260. Creditors also increased by 92% to £1,300,000. The company meets the criteria for a small business, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. The substantial increase in bank borrowings and the sharp decline in cash reserves, however, suggest the company may be burning through money. The rise in creditors also indicates a potential strain on its ability to manage short-term liabilities. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

Overall, Sovereign Medical Ltd appears to be a stable business with a long history, but its recent financial performance warrants close attention. The company’s ability to manage its debt and maintain sufficient cash reserves will be crucial for its long-term success.

Registered in England/Wales under the registration number 04027264, with a registered address at CM24 8GF, Stansted, Essex, Unit 16 M11 Business Link, Parsonage Lane.

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