Sovereigntech Ltd

Sovereigntech Ltd, based in Farnham, UK, is a small, active company founded four years ago. It’s a solo founder operation with one director and one employee, holding a real registered address. The company operates in the retail sale via mail order houses or via internet industries.

The company’s website, Sovereign Technology Innovation Limited, focuses on easing the living of company staff through digitization. Their big idea is to revolutionize access to essentials for working individuals with a service called Foodbank, allowing employees to apply for food loans and have groceries delivered monthly. The website outlines a four-step process: problem identification, innovative solution design, user feedback integration, and strategic partnerships. They clearly aim to simplify access to essentials and promote workplace wellbeing.

Financially, Sovereigntech Ltd presents a mixed picture. While cash bank on hand increased significantly by 190% to £16,000, net assets liabilities deepened to -£590. Creditors rose by 24% to £9,600 within a year, and net current liabilities plummeted by a staggering 5600% to £9,000. The company's small size (meeting two of three conditions for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay agile, but the decline in equity and the large net current liabilities raise concerns. The accounts are described as "filleted" and unaudited, relying on director-reported data, and no auditor is mentioned. It seems like they are burning through cash to grow their Foodbank service, which is a common trait for startups.

Registered in England/Wales under the registration number 12974787, with a registered address at GU9 8NB, England, Farnham, Dragon House, St. Georges Road.

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