66 Contracts Ltd

66 Contracts Ltd is a small, active company based in Farnborough, UK, founded fifteen years ago in 2010. The company, a family business with two owners and three directors, employs just two people and holds £12,478 in assets. It operates from a virtual address, registered at Sherwood House, which is shared by forty-two other companies, which is a bit odd.

The company specialises in automotive solutions within the UK and Northern Ireland, offering experience in all aspects of the sector. Its website highlights a focus on electric vehicles and pushing forward the latest technology, offering options to clients and associates in an ever-changing industry. It's an irregular importer, with its top import category being vehicles, parts, and accessories (not for trains or trams), totaling one month of imports, the last being in August 2023.

Financially, 66 Contracts Ltd is showing some concerning trends. Current assets have plummeted by a staggering 96%, dropping to just £12,000, while net assets have fallen 50% to £48,000. Bank borrowings have decreased by 33%, but cash reserves have evaporated almost entirely, falling 98% to a mere £3,200. Creditors have also decreased significantly, by 90%, which is a positive sign. The company meets two of three conditions to be considered small – turnover under £10.2m, assets under £5.1m, and fewer than 50 employees – which helps it maintain agility. With no auditor mentioned, the financial data is unaudited.

Overall, 66 Contracts Ltd appears to be facing financial pressures despite its expertise in the automotive sector. The sharp decline in assets and cash reserves suggests the company is burning through money, although the decrease in creditors indicates some effort to manage debt. It will be interesting to see if the company can weather this storm and continue to provide automotive solutions in the years to come.

Registered in England/Wales under the registration number 07212935, with a registered address at GU14 6JP, Farnborough, Hampshire, Sherwood House, 41 Queens Road.

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