Veritas Medical Solutions Ltd

Veritas Medical Solutions Ltd from London UK: a small, active company founded nine years ago, is facing some financial challenges. Despite a respectable 5.0 Google rating based on a single review, and a steady stream of optical and medical tools and devices imported over the last seven months, the company’s accounts are currently overdue by two years. It holds £84,084 in assets, operates from a virtual address shared by many other businesses, and is managed by a single director and owner.

The company's activities appear to span a few areas. It operates in the retail sale not in stores, stalls or markets, and also offers education services. Its website, while currently unavailable, suggests a focus on training and potentially sourcing medical equipment. The address listed, 20-22 Wenlock Road, is a known hub for virtual addresses, with over 28,000 other companies registered there, which is a bit unusual.

Financially, Veritas Medical Solutions Ltd presents a mixed picture. While cash bank on hand has increased significantly, jumping 810% to £84,000, creditors have also surged by 700%, reaching £99,000. Net assets have seen a remarkable 1300% increase to £12,000, but net current liabilities have also increased by 370% to -£15,000. Property, plant, and equipment have also seen a 570% increase. The company’s small size—meeting two of three conditions for being classified as small (turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees)—means it’s likely exempt from an audit, relying on unaudited accounts. The significant increase in creditors alongside the increase in property, plant, and equipment, could indicate the company is investing in its operations, but it’s also important to monitor its ability to manage its debts. The company’s accounts are prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102, and the company is entitled to exemption under section 477 of the Companies Act 2006.

Registered in England/Wales under the registration number 10021021, with a registered address at N1 7GU, England, London, 20-22 Wenlock Road.

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