Starship Technologies Ltd

Starship Technologies Ltd from Milton Keynes UK: a small, active company founded nine years ago, is currently facing some financial challenges with accounts overdue by three months. The business employs eighteen people and holds assets worth £8,497,129. It has two directors, but no owners are officially listed, likely one of the directors holds the shares. The company regularly imports electrical machinery and equipment (96 months) and exports machinery, boilers, and mechanical appliances; parts (13 months).

The company operates in the other business support service activities n.e.c. industries. It’s a small business, meeting two of three conditions: turnover less than £10.2 million, balance sheet total less than £5.1 million, and fewer than 50 employees. The company’s website, Retail Technology Innovation Hub, is a news and events platform focused on retail technology. It doesn’t appear to be an e-commerce site itself, but rather a content hub featuring articles, interviews, and lists related to retail innovation. The site regularly publishes news about partnerships, appointments, and trends in the retail sector, covering topics like AI, supply chain technology, and customer experience.

Financially, Starship Technologies Ltd shows some concerning trends. Net assets have plummeted 51%, dropping to £160,000, while bank borrowings have increased by 22%, reaching £6 million. Cash reserves have also declined by 43%, sitting at £200,000. While trade debtors have risen by 17%, reaching £810,000, creditors have also increased by 40%, to £8.4 million. The number of employees has increased dramatically by 120%, to forty people, which could be a sign of growth or increased operational costs. It's worth noting that the company's accounts are unaudited, and the lack of an auditor mentioned suggests it is exempt as a small company.

The sharp decline in equity, coupled with increased debt, suggests the company may be burning through cash. However, the growth in employees and the continued import and export activity indicate that the business is still operating and potentially expanding. The Retail Technology Innovation Hub platform, while not directly generating revenue, could be a valuable asset for building brand awareness and attracting customers.

Registered in England/Wales under the registration number 10071803, with a registered address at MK1 1DX, United Kingdom, Milton Keynes, Unit C2, Building C, Denbigh Business Park 23 First Avenue, West Denbigh.

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