Everless Limited

Everless Limited is a small, holding company registered in London, UK, with an active status. Founded four years ago in October 2020, the company has one employee and holds £117,164 in assets. It operates from a virtual address, registered at 483 Green Lanes, where 1407 other companies are also registered, and is led by one director and two owners. Everless Limited runs an e-commerce site, selling innovative, reusable bags.

The company's website, Everless GYRE, showcases the "SmartBag"—a compact, foldable bag designed to replace disposable options. It’s marketed as a global hit, having raised significant funds on Kickstarter and selling thousands of units across multiple countries. The site emphasizes sustainability, highlighting the bag’s durability, portability, and eco-friendly design. The site also sells in USD, and has a newsletter.

Financially, Everless Limited has experienced a concerning downturn. Current assets have fallen by nearly 50%, dropping to £120,000, while net assets have plummeted 70%, leaving just £45,000. Cash reserves have also shrunk considerably, decreasing by over 50% to £100,000. Bank borrowings have increased, and trade debtors have decreased. Depreciation costs have increased, and the company’s retained earnings have decreased. The company’s small size (meeting two of three conditions for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) means it’s exempt from an audit, and the figures are unaudited.

The sharp decline in equity and cash reserves suggests Everless Limited may be burning through money faster than it’s generating revenue. While the e-commerce site appears to be performing well, the financial data paints a picture of a company facing significant challenges. The company’s reliance on Kickstarter funding and its focus on a niche product could be contributing to these pressures.

Registered in England/Wales under the registration number 12986866, with a registered address at N13 4BS, England, London, 483 Green Lanes.

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