Elite Motorsport Ltd

Elite Motorsport Ltd, based in Thetford, UK, is a small, active company founded seven years ago in 2017. With nine employees and £506,657 in assets, it operates from a real address and is overseen by one director and owner. The company irregularly imports optical and medical tools and devices (one month of imports recorded in March 2023) and exports vehicles, parts, and accessories (also one month of exports recorded in April 2023). It’s classified as operating in the other sports activities industries.

The company’s website reveals a significant focus on motorsport, particularly Ginetta racing. Elite Motorsport runs teams and provides services for various Ginetta championships, including the Junior, GT4 Supercup, and GT5 Challenge. The site showcases team drivers, latest news, and even offers packages for aspiring racers. It’s clear that the business is heavily involved in supporting and participating in competitive racing events—a far cry from a simple parts retailer. There’s also a section dedicated to the Ginetta Academy, indicating a commitment to nurturing young talent.

Financially, Elite Motorsport Ltd presents a mixed picture. Accumulated depreciation on motor vehicles increased significantly by 49%, reaching £490,000, while cash reserves plummeted 91% to just £6,900. Bank borrowings also decreased, but remain at £44,000. Creditors increased by 38%, reaching £410,000, and net assets declined 72% to -£430,000—a substantial drop. 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 flexibility, but the equity decline suggests it’s burning through cash. No auditor is mentioned, likely due to its small size, meaning the financial information is unaudited.

The company’s irregular import/export activity, combined with its focus on motorsport, suggests a niche business model. Whether the racing operations are profitable and sustainable remains to be seen, but Elite Motorsport appears to be a dedicated player in the competitive world of Ginetta racing.

Registered in England/Wales under the registration number 10790645, with a registered address at IP25 7PH, United Kingdom, Thetford, 16 Bradenham Road, Shipdham.

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