Gym Armour Ltd

Gym Armour Ltd, based in London, UK, is a small, active company founded six years ago in 2019. With a single employee and £45,556 in assets, it operates from a virtual address shared by many other businesses – a bit odd, really. Three directors and one owner (Agha Imran) steer the ship, with the company described as a solo founder venture. Gym Armour imports clothing and accessories (not knitted or crocheted) sporadically, with the last import operation occurring two months ago. The company’s core business involves retail sale via mail order houses or via internet industries.

The company’s website is minimal, offering little insight beyond its product range. It’s clear that Gym Armour operates primarily as an e-commerce business, selling athletic apparel and accessories online. There’s no elaborate marketing or branding, suggesting a straightforward, no-frills approach to sales.

Financially, Gym Armour Ltd presents a mixed picture. Current assets have plummeted 62% to just £17,000, while net assets have also seen a significant drop of 53%, settling at -£120,000. Cash bank on hand has decreased by 24%, now standing at £16,000. Creditors have increased by 14%, reaching £86,000, and trade debtors have fallen dramatically, dropping 71%. The company’s small size (meeting two of three criteria 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. It’s a little concerning that the company is reporting losses, and the reliance on bank borrowings (currently at £54,000) suggests it’s burning through cash. The dramatic decrease in debtors, however, could indicate improved payment collection.

Overall, Gym Armour Ltd appears to be a small e-commerce venture facing financial headwinds. While its niche focus and online presence offer potential, the negative equity and decreasing cash reserves raise concerns about its long-term viability.

Registered in England/Wales under the registration number 11898643, with a registered address at EC1V 2NX, England, London, 124 City Road.

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