Gig Wholesale Ltd

Gig Wholesale Ltd, based in Manchester, UK, is a small, active company founded eight years ago. With six employees and £112,812 in assets, it operates from a real address and is led by a single director and owner, who is also the solo founder. The company specializes in non-specialized wholesale trade and retail sales via mail order and the internet.

The company’s website reveals a focus on wholesale products, encouraging potential customers to contact them via phone or email to obtain a password for the product catalog. This suggests a business-to-business model, relying on direct contact rather than open online browsing. The site is designed and developed by Vertilex Web Solutions Pvt. Ltd., indicating an outsourcing of web development.

Financially, Gig Wholesale Ltd presents a mixed picture. While the company’s small size (meeting two of three conditions for a small company) allows for agility, recent trends raise concerns. Cash reserves have plummeted 66% to £5,400, and net assets have dropped significantly to -£4,400—a substantial loss. Bank borrowings have decreased by 12%, which is a positive sign, but creditors have increased by nearly 30%, indicating growing short-term liabilities. Trade debtors have also decreased, which could mean better payment collection, or a reduction in sales. The lack of director remuneration is notable, suggesting a focus on reinvesting profits. The company’s accounts are unaudited, which is common for small companies, and the accounts status is an audit exempt with an accountants report.

Overall, Gig Wholesale Ltd appears to be navigating a challenging period. The company’s reliance on direct contact for sales, combined with the recent financial pressures, suggests a business that may be burning through cash. Whether this is a temporary setback or a longer-term trend remains to be seen.

Registered in England/Wales under the registration number 10247765, with a registered address at M34 5QA, England, Manchester, 1 C Fairfield View Booth Road, Audenshaw.

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