Economical Ltd

Economical Ltd is a small, active company based in Birmingham, UK, founded five years ago in 2019. With just one employee and £103 in assets, it operates from a virtual address shared by 474 other companies, a bit unusual. Nelson Shanel is both the director and owner of the business, and it’s been that way for five years.

The company’s website, Economical Solution, describes itself as a vehicle equipment conversion specialist, operating from Worksop, Nottinghamshire. It offers a range of services and products, including ongoing and future projects, and even has a gallery and merchant policies section. The site suggests an ecommerce focus, with a clear emphasis on online retail.

Financially, Economical Ltd’s situation appears precarious. Net assets and liabilities have plunged from -£9,900 to -£12,000, a significant drop. Cash reserves have virtually disappeared, falling 99% to just £1. Bank borrowings remain steady at £5,700, but creditors have increased by 33% to £6,100. Current assets have also decreased substantially, dropping 73% to £100. The company’s small size (meeting two of three criteria for a small company) helps it remain flexible, but the sharp decline in equity and cash raises concerns. There’s no auditor mentioned, so the financial statements are unaudited.

In short, Economical Ltd is facing financial headwinds. While its online retail operation seems to be running, the company's assets are decreasing and it’s burning through money. It’s a challenging situation, and whether it can turn things around remains to be seen.

Registered in England/Wales under the registration number 11984532, with a registered address at B19 2HN, United Kingdom, Birmingham, Six Ways Business Centre, 1 Guildford Street.

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