Overdrive Ecommerce Ltd

Overdrive Ecommerce Ltd from Guildford UK: a small, active company founded two years ago, employs just one person, and holds £15,048 in assets. It operates from a virtual address – a bit unusual, as 135 other companies are registered there – and is led by a single director and owner, who is also the solo founder. The company’s primary focus is retail sale via mail order houses or via internet.

The business operates an e-commerce site, and while the website isn’s particularly detailed, it suggests a focus on online retail. The site doesn’t give much away about the specific products sold, but it’s clear the company is aiming for a digital presence.

Financially, Overdrive Ecommerce Ltd presents a mixed picture. While the company is small (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees), its net assets are currently at -£46,000. Cash bank on hand sits at £15,000, but creditors are at £61,000. This suggests the company is burning through money, and the negative equity is a concern. Director advances credits are minimal, and there’s no auditor mentioned, which is common for small companies. The company’s revenue recognition policy involves recognizing turnover when the customer has signed for the delivery of goods.

Overall, Overdrive Ecommerce Ltd is a small, solo-run operation facing financial challenges. The virtual address and negative equity raise questions, but the company’s focus on online retail and small size could allow it to adapt and overcome these hurdles.

Registered in England/Wales under the registration number 14319312, with a registered address at GU3 1HW, England, Guildford, Surrey, Court Barn, Littleton Lane.

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