SOCKET ELECTRICAL LTD

Executive Summary

Socket Electrical Ltd operates as a financially stable micro-entity within the UK electrical installation sector, reflecting typical small-scale service provider characteristics. The company has demonstrated steady net asset growth and sound working capital management but remains a niche player with limited scale compared to larger industry competitors. Market trends favoring sustainable electrical solutions present growth opportunities, though the company must leverage its agility and local focus to compete effectively.

SOCKET ELECTRICAL LTD - Analysis Report

Company Number: 13116229

Analysis Date: 2025-07-20 14:40 UTC

1. Industry Classification

Socket Electrical Ltd operates within the electrical installation sector, classified under SIC code 43210. This sector primarily involves installation, maintenance, and repair of electrical wiring and equipment in buildings and infrastructure. It is characterized by a mix of small and medium enterprises providing specialized services to residential, commercial, and industrial clients. The industry is typically project-driven, with revenues closely tied to construction and refurbishment activity, and influenced by regulatory standards relating to electrical safety and energy efficiency.

2. Relative Performance

Socket Electrical Ltd is classified as a micro-entity, reflecting its very small scale with turnover and balance sheet values well below industry midpoints. With net assets increasing steadily from £4,742 in 2021 to £10,169 in 2025 and maintaining positive net current assets (£10,219 in 2025), the company shows a stable financial footing typical for a new entrant consolidating its market position. The fixed asset base remains minimal (£1,150 in 2025), consistent with a service-focused business model relying on labor rather than capital-intensive equipment. Average staff count of 2 employees also aligns with micro-business norms in the sector. Compared to typical industry benchmarks, Socket Electrical Ltd operates at a modest scale but demonstrates prudent working capital management and incremental equity growth.

3. Sector Trends Impact

The electrical installation industry is currently influenced by several market dynamics: increasing demand driven by new housing developments, commercial refurbishments, and infrastructure upgrades; a growing emphasis on sustainable and energy-efficient installations including electric vehicle charging points and smart home technology; and regulatory changes enforcing higher safety and environmental standards. Supply chain disruptions and skilled labor shortages have posed challenges recently. Being a micro business, Socket Electrical Ltd may be agile in adapting to these trends but also sensitive to fluctuations in demand and regulatory compliance costs. Its ability to capture niche opportunities in green technologies or specialist installations could be critical to future growth.

4. Competitive Positioning

Within the electrical installation sector, Socket Electrical Ltd represents a small-scale, niche player rather than a market leader or large follower. Its strengths lie in its low overhead structure, direct management (ownership and control concentrated with Mr. Ritchie Perriam and Mrs. Stephanie Perriam), and financial prudence which reduces risk exposure. However, limited scale, a small workforce, and modest asset base may constrain capacity to take on larger contracts or invest in advanced technologies. Competitors at medium or large scale benefit from greater resource pools, brand recognition, and diversified service offerings. For Socket Electrical Ltd, focusing on specialized, high-quality service delivery and building strong client relationships in local markets will be essential to maintain competitiveness.