Vellco Limited

Vellco Ltd, based in Leeds, UK, is a sizable holding company with an active status, having operated for 24 years. Employing 84 people and boasting assets of £2,993,732, the company generated £10,050,886 in revenue last year. While it has a registered address, thirteen companies share the same location, raising questions about its virtual nature. Four directors and one owner guide the business, which holds a respectable 4.0-star rating on Google based on 21 reviews.

Vellco’s core business revolves around the recovery of sorted materials, with a particular focus on tyre casings and automotive waste recycling. Its website highlights a dual operation: a tyre casing sales and automotive recycling division and a separate, high-end piano restoration business, 1066 Pianos, operating from Cambridge and even featuring a showroom in Harrods. The company’s website suggests a strong focus on customer service and competitive pricing, hallmarks of a successful e-commerce operation.

Financially, Vellco Ltd presents a mixed picture. While turnover remained stable, current assets decreased by 9.5% to £3,000,000. Bank borrowings increased by 49%, reaching £240,000, while cash reserves remained stable at £1,300,000. Creditors also decreased by 12%, indicating improved debt management. The company meets two of three criteria to be considered large, with turnover exceeding £36 million, balance sheet total exceeding £18 million, and more than 250 employees. The lack of an auditor mentioned suggests the company is exempt from mandatory auditing.

The increase in administrative expenses by 13% and a decrease in director remuneration by 23% are worth noting. The company’s consistent import and export activity—regularly importing and exporting rubber and rubber products—suggests a stable supply chain, though the sharp decline in deferred tax liabilities is a little surprising. Overall, Vellco Ltd appears to be a well-established company navigating the challenges of a competitive market, though the virtual address and fluctuating financials warrant further investigation.

Registered in England/Wales under the registration number 04153063, with a registered address at LS3 1AB, Leeds, Suite B2 Josephs Well, Hanover Walk.

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