Third Equation Ltd

Third Equation Ltd from Bristol UK: a small, active company founded five years ago, employs 17 people, and holds £863,030 in assets. It operates from a virtual address – thirteen companies registered at the same location – and is managed by four directors, with Fitzpatrick Michael as the sole owner. The company regularly imports electrical machinery and equipment, with its last import operation occurring in August 2024.

The company’s website showcases a focus on transforming the energy grid with innovative technology. Third Equation and Monash University have launched a project to strengthen Australia’s electricity grid, and the company positions itself as a pioneering technology company focused on enabling zero-carbon electricity. The core offering revolves around the Network Exchanger (NEx), designed to enhance grid capacity, stability, and efficiency. The website highlights the NEx's ability to add up to 20% capacity to the grid at substation level, supporting renewable energy integration. It’s clear that Third Equation is not an e-commerce business; rather, it’s a technology provider targeting the energy sector.

Financially, Third Equation Ltd’s recent performance presents a mixed picture. While fixed assets increased by 15%, current assets decreased by 40% to £860,000. Cash reserves plummeted 39% to £510,000, and net assets dropped 27% to -£6.8 million. Creditors surged by 50% to £7.9 million, indicating a reliance on borrowing. It’s worth noting that the company’s average number of employees decreased by 24% to 13. The company’s small size – meeting two of three criteria for a small company – allows for agility, but the significant decline in equity and increased borrowing raise concerns. No auditor is mentioned, so the figures are unaudited.

The company's focus on technology and renewable energy, combined with its financial challenges, suggests it’s a company in a growth phase, investing heavily in its core technology while navigating the pressures of securing funding and managing cash flow.

Registered in England/Wales under the registration number 12188439, with a registered address at BS2 0EL, United Kingdom, Bristol, 3rd Floor 2 Glass Wharf.

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