Swytch Technology Ltd

Swytch Technology Ltd, based in London, UK, is a holding company with an active status, established seven years ago. Employing 64 people, the company holds £2,259,663 in assets and generates a yearly revenue of £10,510,547. It operates from a real address and is managed by five directors and one owner. Swytch Technology Ltd runs an e-commerce site and regularly imports toys, games, and sports equipment (for 40 months), and exports vehicles, parts, and accessories (for 20 months). However, its Google rating is a concerning 1.0 based on just one review.

The company’s website showcases a focus on e-bike conversion kits, targeting both the UK and international markets. It emphasizes innovative technology and a commitment to sustainable transportation. The site is well-designed and user-friendly, highlighting the benefits of converting existing bikes into electric models. It's clearly geared toward online retail.

Financially, Swytch Technology Ltd presents a mixed picture. While turnover remained stable at £11 million, net assets took a significant hit, dropping 73% to just £16,000. Cash reserves plummeted 82%, leaving only £480,000. Bank borrowings increased by a substantial 63%, reaching £630,000. Creditors also rose by 35%, suggesting increased reliance on short-term financing. The company’s staff costs decreased by 21%, with only 38 employees reported, which could reflect efforts to reduce expenses. It’s worth noting that the company is exempt from an audit as a small company.

These figures suggest Swytch Technology Ltd is facing financial pressures, despite its revenue. The sharp decline in equity and cash reserves is a cause for concern, and the increased borrowings indicate a need for external funding. The decrease in staff could be a strategic move to cut costs, but it could also reflect difficulties in maintaining operations. The low Google rating is also a red flag, and the company should focus on improving customer satisfaction to boost its online reputation.

Registered in England/Wales under the registration number 10932147, with a registered address at E3 2TB, United Kingdom, London, Unit, 9 455 Wick Lane.

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