Tech Island Ltd

Tech Island Ltd, from Slough UK, is a small company with an active status, founded four years ago. It holds £6,832 in assets and operates from a real address in Slough. The company, led by one director and owner – Nazim Shayan – is a solo founder venture. It’s classified as small, meeting two of three conditions: turnover under £10.2 million, balance sheet total under £5.1 million, and fewer than 50 employees.

The company’s primary focus is facilitating technology adoption in Cyprus. Its website positions it as a non-profit IT association dedicated to turning Cyprus into a “tech island.” The site highlights Cyprus's advantages for tech companies, including its EU membership, skilled workforce, attractive tax incentives (including a 12.5% corporate tax rate and potential tax exemptions), supportive government policies, and high quality of life. It actively promotes relocation to Cyprus for tech talent and companies, and hosts a range of events and communities focused on various tech sectors, like HR, marketing, finance, and women in tech. The website also showcases its members, donors, and partners, emphasizing a collaborative ecosystem. Recent events include webinars on tax optimization, meetups for financial professionals, and networking events for tech founders.

Financially, Tech Island Ltd’s recent report reveals some interesting trends. Accumulated depreciation has increased by 27%, reflecting investment in computer equipment. Cash on hand has risen by 71%, a positive sign, but amounts owed to directors have decreased significantly by 36%. Creditors have fallen by 60%, which is good, but finished goods are down 38%. Net assets and net current assets have both seen a dramatic improvement, increasing by 130% and 120% respectively. The company’s small size, as defined by the report, helps it remain flexible. No auditor is mentioned, which is common for small companies.

Overall, Tech Island Ltd appears to be financially stable, although the decrease in finished goods could indicate a shift in inventory management or a slowdown in sales. The company’s focus on fostering a thriving tech ecosystem in Cyprus seems to be paying off, attracting members, donors, and partners—but whether this translates into sustainable profitability remains to be seen.

Registered in England/Wales under the registration number 12717492, with a registered address at SL1 2PX, England, Slough, 54 Ragstone Road.

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