Sylk Tech Ltd

Sylk Tech Ltd is a small, active company based in Glasgow, UK, founded eight years ago in 2016. With a real registered address and two directors, the company employs just one person and holds £217,665 in assets. It's a private limited company with a focus on developing SilkDerived Protein products.

The company’s website highlights its innovative technology, emphasizing the benefits of SDP ingredients for various applications, from medical products to cosmetics and food. It positions itself as a partner for businesses looking to enhance their products with silk-based solutions, offering access to patented technology and exclusive database resources. The site is very clear about what they do, and it’s a very professional website.

Financially, Sylk Tech Ltd shows a mixed picture. Current assets have decreased by 33%, dropping to £220,000, while net assets have fallen by 28%, settling at £180,000. Bank borrowings have increased, and cash reserves have declined by 54%, leaving just £140,000. Trade debtors have increased significantly by 160%, suggesting potential issues with customer payments. Despite these challenges, creditors have decreased by 45%, which is a positive sign. The company’s small size (meeting two of three conditions for being small) allows for flexibility, but the decline in equity raises concerns. The accounts are unaudited and exempt, relying on director-reported data.

Overall, Sylk Tech Ltd seems to be navigating a period of financial strain. While its website and technology showcase promise, the declining assets and cash reserves suggest the company is burning through money. The increase in trade debtors also points to potential cash flow problems. It’s difficult to say whether this is typical startup turbulence or a longer-term challenge, but Sylk Tech Ltd will need to carefully manage its finances to ensure its survival.

Registered in Scotland under the registration number SC549462, with a registered address at G3 6AB, United Kingdom, Glasgow, C/O Nka Cca, 4 Lynedoch Place.

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