Nashcar Ltd

Nashcar Ltd from Belfast UK: a small, active company founded nine years ago, employs two people, and operates from a virtual address. It’s a private limited company with two directors and two owners, and it’s an irregular importer of paper and paperboard products, with recent activity recorded two months ago.

The company operates in the take-away food shops and mobile food stands industries. Its registered address is Linenhall Exchange, but sixty-four companies share the same address, suggesting it’s a virtual address. The company is small, meeting two of three conditions: turnover less than £10.2 million, balance sheet less than £5.1 million, and fewer than 50 employees.

While no website is available, the company’s financial data reveals some interesting trends. Cash bank on hand has increased by 33% to £91,000, which is good news. However, net current assets have plummeted into negative territory, at -£3,000. Bank borrowings have decreased by 12%, and creditors have increased significantly, both within and after one year. Dividends paid to shareholders have surged by 400%, reaching £40,000, which could indicate a desire to reward owners despite the challenging financial position.

The company’s net assets have increased by 110% to £11,000, and the company’s losses on ordinary activities before tax have decreased by 3.8% to £54,000. Depreciation rate used for property, plant, and equipment is zero. The company’s tax expense credit has increased by 52% to £8,500.

The company's financial statements are unaudited, and it’s exempt from an audit as a small company. The surge in dividends alongside the negative net current assets suggests the company may be burning through cash to reward shareholders, which could be a risky strategy. The increase in creditors also indicates a need to manage debt carefully.

Registered in Northern Ireland under the registration number NI632699, with a registered address at BT2 8BG, United Kingdom, Belfast, Linenhall Exchange, 1st Floor, 26 Linenhall Street.

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