North Cars Ltd

North Cars Ltd, based in London, UK, is a small, active company founded six years ago in 2019. Employing just three people, the company holds £683,120 in assets and operates from a virtual address – eighty-five other companies are registered at the same location. It's led by one director and one owner, with Kayani Faisal holding both roles. The business primarily imports vehicles, parts, and accessories (excluding trains and trams), with a sporadic import history spanning just one month as of April 2022.

The company’s website, North Cars Ltd, focuses on providing PCO car hire, targeting drivers looking to earn a living quickly. It offers flexible rental terms, support with document uploads, and covers all servicing costs. The site emphasizes reliability and offers a range of vehicles, from hybrids to electric models. It also has a financing calculator and trade price request form, suggesting a focus on attracting both rental customers and potential trade buyers.

Financially, North Cars Ltd shows a mixed picture. Current assets decreased by 18% to £680,000, while net assets declined by 54% to -£48,000. Bank borrowings plummeted by 89%, reaching just £4,600, and cash reserves fell 91% to £27,000. Creditors also decreased by 89%, suggesting better debt management. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it remain agile, but the significant equity drop is concerning. With no auditor mentioned, the figures are unaudited.

The company's substantial decrease in cash reserves and negative equity suggest it may be burning through money. While the PCO car hire business appears to be active, the financial data reveals a company facing challenges. It’s likely that the business is struggling to generate enough profit to cover its expenses and build up reserves, and the virtual address raises questions about overhead costs.

Registered in England/Wales under the registration number 11862080, with a registered address at E17 9BG, England, London, 309 Hoe Street.

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