Drift Innovation Ltd

Drift Innovation Ltd, based in Bromley, UK, is a small, active company founded nineteen years ago in 2006. With just three employees and £2,430,331 in assets, it operates from a virtual address shared by 350 other companies—a bit unusual. The company has one director and one owner, Li Chengqin, and is registered at BR1 3QD, England. Drift Innovation Ltd is a regular importer, though it imports "None" – a bit of a mystery – with the last import activity in November 2023. It's also an irregular exporter, specializing in optical and medical tools and devices, with the last export recorded way back in February 2016.

The company’s website, driftinnovation.com, showcases a range of action cameras, accessories, and mounts. It’s clearly an e-commerce business, targeting both adventure enthusiasts and everyday users—from gamers to fashion lovers. The site highlights the Ghost series cameras, emphasizing features like 4K UltraHD video, waterproof designs, and long battery life. There’s a focus on Huawei mobile device connectivity and even a section for dashcam applications. The site also has a blog and a support section, and offers free shipping over £40.

Financially, Drift Innovation Ltd presents a mixed picture. While current assets increased by 23%, to £2,400,000, net assets decreased by 2.2%, to -£1,000,000. Bank borrowings remained stable, and cash reserves increased by a significant 190%, to £5,000. Trade debtors rose by 8.2%, suggesting a possible increase in sales. 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 for agility, but the negative equity is a concern. The accounts are unaudited, likely due to its small size, so the figures rely on director-reported data.

Despite the negative equity, the company’s focus on a niche market—action cameras—and its online presence suggest a potential for growth. The website’s professional design and marketing efforts indicate a commitment to attracting customers, and the increase in cash reserves offers some breathing room. However, Drift Innovation Ltd needs to address its negative equity to ensure long-term financial stability—it’s a bit of a tightrope walk.

Registered in England/Wales under the registration number 05785546, with a registered address at BR1 3QD, England, Bromley, 36 Scotts Road.

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