Electric Wheels Limited

Electric Wheels Ltd, based in Thetford, UK, is a small, active company founded six years ago in 2018. With seven employees and £615,294 in assets, it operates from a real address and is led by two directors and a solo founder, Abel Anthony Noel. The company regularly imports vehicles, parts, and accessories (excluding trains or trams), with four months of import activity recorded, and exports irregularly, with two months of export activity.

The company’s website, electricwheels.co.uk, showcases a range of electric all-terrain utility vehicles (UTVs) – the Nipper, the HiSun Sector, and others – available for purchase or hire. It caters to sectors like agriculture, leisure, conservation, and events, emphasizing zero-emission technology and all-terrain capabilities. The site also features a used vehicle section and highlights a partnership with dealers across the UK.

Financially, Electric Wheels Ltd presents a mixed picture. Current assets have decreased by 44% to £620,000, while net assets have dramatically fallen by 180% to -£130,000. Bank borrowings have increased significantly by 95% to £390,000, and cash reserves are down 30%. Trade debtors have also decreased by 36%, suggesting a potential improvement in collections. The company’s small size (meeting two of three criteria for a small company) allows for agility, but the substantial equity decline and increased borrowings raise concerns. No auditor is mentioned, likely due to the company’s small size and exemption from an audit.

The surge in bank borrowings and the significant drop in equity suggest the company may be burning through cash, potentially to fuel growth or cover operational costs. It’s possible the company is investing heavily in its dealer network or expanding its product line, but the financial data indicates a need for careful management.

Registered in England/Wales under the registration number 11708662, with a registered address at IP25 6JB, England, Thetford, South Block, Neaton Business Park Norwich Road, Watton.

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