Steering Developments Limited

Steering Developments Ltd from Herts UK: a small, family business with an active status, has been operating for 33 years. Employing 19 people, the company holds £608,340 in assets and boasts a perfect 5.0 Google rating based on 29 reviews. It's a regular importer of vehicles, parts, and accessories (excluding trains and trams), having imported for 33 months, with the latest import in February 2025. Export activity is more sporadic, with just one month of exports recorded in November 2023. The company has three directors and four owners.

The company’s website highlights its specialization in vehicle adaptations, controls, and WAVs (Wheelchair Accessible Vehicles) for people with disabilities. They offer a wide range of services, from power steering and braking controls to wheelchair loading and storage solutions, catering to both commercial and individual needs. The website emphasizes a 40-year history of expertise and a focus on bespoke solutions, with a showroom and a commitment to customer support.

Financially, Steering Developments Ltd shows some concerning trends. Cash reserves have significantly dropped by 57% to £260,000, and net assets have fallen by 24% to £360,000. Bank borrowings have increased slightly, with overdrafts rising by 2.6%. Creditors have also decreased by 33%, suggesting better debt management, but the drop in cash is a key indicator. 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 decline in equity warrants attention. The unaudited financial statements, which do not mention an auditor, rely on director-reported data.

The company's core business seems to be doing well, with a strong reputation and a focus on a niche market. However, the financial data suggests that Steering Developments Ltd is burning through cash, and the long-term sustainability of the business will depend on its ability to improve its cash flow and maintain its customer base.

Registered in England/Wales under the registration number 02646099, with a registered address at HP2 7HF, Herts, Unit 5 Eastman Way, Hemel Hempstead.

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