Stovax Heating Group Limited

Stovax Heating Group Ltd from Exeter, UK, is a large holding company with an active status, established twelve years ago in 2012. Employing ten individuals and holding £622,294 in assets, it operates from a real address and is overseen by six directors and one owner. Boasting a solid 4.0 Google rating from 187 reviews, the company is a regular importer and exporter of iron or steel products, with 150 months of import activity and 195 months of export activity recorded.

The company specializes in the manufacture of high-quality wood burning, multifuel, gas, and electric stoves, fires, and fireplaces, catering to a wide range of customer needs. Its website highlights a diverse collection of designs, from traditional log burners to modern gas fires and electric fireplaces, serving both residential and commercial clients. The company also offers services like piano restoration, showcasing a commitment to heritage and craftsmanship.

Financially, Stovax Heating Group Ltd presents a mixed picture. While turnover remains undisclosed, administrative expenses have doubled to £2.8 million, and cash bank on hand has dramatically decreased by 97% to just £74,000. Debtor balances have surged by 3100%, reaching £550,000, while accrued liabilities have increased significantly to £1.1 million. Despite these challenges, the company’s fixed assets have increased by 840% to £1.9 million. The company's accounts are audited by Haines Watts, and the strategic report indicates a transfer of assets to the Skypark facility, which is expected to lead to operational efficiencies.

These trends suggest a period of investment and potential restructuring, possibly driven by expansion or adaptation to changing market conditions. The company’s continued focus on high-quality products and its strong brand reputation should help it navigate these challenges, but the sharp decline in cash reserves warrants close monitoring.

Registered in England/Wales under the registration number 08299613, with a registered address at EX5 2FR, England, Exeter, 3 Spitfire Avenue, Clyst Honiton.

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