Verity Medical Limited

Verity Medical Ltd from Romsey UK: a small, active company founded 27 years ago, employs 21 people, and holds £2,550,681 in assets. With a real address, two directors, and one owner, it’s a well-established operation. The company regularly imports and exports optical and medical tools and devices – 138 months of imports and 329 months of exports recorded.

The company’s website showcases a range of neurological and neuromuscular stimulation devices, including the NeuroTrac MyoPlus Pro, MyoPlus4 Pro, and Simplex. These devices cater to physiotherapists and are used for treatments like incontinence, sports development, and rehabilitation. The company operates from Ireland and the UK, with a dedicated sales and technical support team. The website also provides clinical papers, FAQs, and downloadable resources, suggesting a focus on providing value to its professional customer base. It’s clear they are not an e-commerce business, but rather a supplier to healthcare professionals.

Financially, Verity Medical Ltd presents a mixed picture. While cash reserves increased by 19%, net assets only grew by 4%, suggesting a reliance on debt financing. Bank borrowings increased by 7.4%, and trade debtors rose by 15%, which could indicate a period of expansion or perhaps delayed customer payments. A significant drop in total inventories (-46%) is also noticeable, which could be a result of efficient stock management or a slowdown in demand. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows it to remain nimble, but the decline in total assets warrants closer attention. There is no auditor mentioned, likely due to its status as a small company, so the financial statements are unaudited.

Overall, Verity Medical Ltd appears to be a stable, albeit somewhat pressured, business. Its focus on specialized medical devices and its established reputation in the industry are strengths, but the need to manage debt and maintain healthy inventory levels will be crucial for its continued success.

Registered in England/Wales under the registration number 03515848, with a registered address at SO51 0QL, Romsey, Hampshire, Unit 7 The Barn Upper Slackstead Farm, Farley Lane Braishfield.

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