Tergeste Ltd

Tergeste Ltd from Bristol UK: small company, active status, founded 1 year ago, 1 employee, £57,826 assets, real address, 1 director, 1 owner, solo founder. Regular importer of drinks, alcohol, and vinegar (12 months imported). It’s a small business, meeting two of three conditions to be classified as such: turnover under £10.2 million, balance sheet total under £5.1 million, and fewer than 50 employees. The company has been active since its incorporation on May 1st, 2023, and currently employs just one person.

While the name suggests a connection, Tergeste Ltd’s website reveals a completely different operation: Tergeste Power and Propulsion S.r.l., based in Trieste, Italy. This company specializes in innovative water propulsion systems, boasting an international patent for its orbital paddle technology. The website highlights a focus on high maneuverability and instant thrust direction, catering to a niche market of power and propulsion solutions. It’s not clear how the UK-based import business relates to this Italian engineering firm, but both share a branding element and appear to be family-owned.

Financially, Tergeste Ltd’s picture is a little concerning. While current assets remain steady at £58,000, net assets have plummeted to -£200,000—a significant loss. Bank borrowings are also substantial at £260,000, and cash reserves are a meager £10,000. The company’s creditors have remained at £78,000, which is a good sign. The lack of employees, combined with the negative equity, suggests the business is burning through cash. As a small company, it’s exempt from an audit, so these are unaudited figures, which means we’re relying on the director’s reporting. It’s likely the import business is struggling to generate enough revenue to offset its expenses, and the connection to the Italian engineering firm, if any, isn’t providing financial support.

Registered in England/Wales under the registration number 14906557, with a registered address at BS8 1EY, England, Bristol, Flat 1 16 Triangle South.

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