Veritek Global Limited
Registered name: VERITEK GLOBAL LIMITED
Veritek Global Limited made £10.5m revenue and a £161k loss in the year to 31 Mar 2023.
Veritek Global Limited’s revenue grew 48% to £10.5m in the year to 31 Mar 2023, with a loss of £161k and 90 employees. The company is classified under “repair of electronic and optical equipment” and is based in Polegate; we hold 2 years of its filed accounts.
- Status
- Active
- Location
- Polegate, South East
- Age
- 40 yrs · since 1986
- Type
- Private Limited Company
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2022 | 31 Mar 2023 |
|---|---|---|
| Disclosure | Full P&L | Full P&L |
| Profit & loss | ||
| Revenue (turnover) | £7.1m | £10.5m |
| Cost of sales | £5.6m | £8.9m |
| Gross profit | £1.5m | £1.6m |
| Operating profit | −£200k | −£72k |
| Profit before tax | −£252k | −£161k |
| Profit after tax | −£252k | −£161k |
| Profit (best available) | −£252k | −£161k |
| Staff costs | £3.3m | £3.6m |
| Employees (average) | 85 | 90 |
| Ratios | ||
| Profit margin | −3.5% | −1.5% |
| Gross margin | 21.3% | 15.3% |
| Revenue per employee | £83.9k | £117k |
| Profit per employee | −£3k | −£1.8k |
| Growth (year on year) | ||
| Revenue growth | — | ▲47.5% |
| Headcount growth | — | ▲5.9% |
| Balance sheet — indirect signals, not revenue | ||
| Cash at bank | £39k | £108k |
| Net assets | £45k | −£116k |
| Fixed assets | £702k | £713k |
| Current assets | £3m | £3.6m |
| Debtors | £1.3m | £1.6m |
| Deferred income | £292k | £356k |
| Source | Accounts · bulk data Dec 2023 | Accounts · bulk data Dec 2023 |
How the business works
- Profit margin
- −1.5%
- Profit ÷ revenue.
- Gross margin
- 15.3%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £117k
- Revenue ÷ average employees.
- Profit per employee
- −£1.8k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 6.8%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 3.4%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 14.8%
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- ▼358%
- Now −£116k
- Cash at bank
- ▲177%
- Now £108k
- Headcount
- ▲6%
- Now 90
- Deferred income
- ▲22%
- Now £356k
- Fixed assets
- ▲2%
- Now £713k
Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.
Group structure
Minority corporate shareholders
From the Persons with Significant Control register (corporate controllers only).
Similar profitable businesses
Sources
Latest figures from accounts for the year to 31 Mar 2023 (profit −£161k), from the Companies House accounts bulk data published Dec 2023. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.