Backpedal Ltd

Backpedal Ltd from London UK: small company, active status, founded 3 years ago, 3 employees, £116,807 assets, virtual address, 2 directors, 2 owners. Regular importer of electrical machinery and equipment (4 months imported). It's a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50. The last reported current assets is £116,807.

Backpedal Ltd operates as a bike and ebike theft recovery service, exclusively within the M25 area of London. Its core business revolves around installing trackers and deploying recovery agents to locate and retrieve stolen bikes. The company's website highlights a boots-on-the-ground approach, emphasizing rapid response times and a network of ex-police recovery specialists. They also offer insurance and even corporate fleet solutions, indicating an ambition to expand beyond individual bike owners. The company’s website is a modern e-commerce site, with a focus on customer reviews and a clear explanation of its services.

Financially, Backpedal Ltd presents a mixed picture. Cash bank on hand has significantly decreased by 62%, dropping to £86,000, while current assets have also fallen by 48% to £120,000. Creditors have increased substantially, with current financial instruments rising by 180%, and non-financial instruments by 9.9%. Equity has also taken a hit, with retained earnings and accumulated losses increasing by 150%. The company’s reliance on a virtual address, shared by thousands of other businesses, raises questions about its operational costs and legitimacy. The lack of an auditor mentioned—likely due to its small size—means the figures are unaudited. It's a bit concerning that the company's net assets liabilities have turned negative, but the company's turnover is not available.

Overall, Backpedal Ltd appears to be a startup facing challenges. While its innovative service and focus on customer recovery are promising, the declining cash reserves and rising debt suggest it's burning through money. Whether it can sustain its growth and expand beyond London remains to be seen.

Registered in England/Wales under the registration number 13487789, with a registered address at EC2A 4NE, England, London, 86-90 Paul Street.

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