Polar Automotive Limited

Polar Automotive Limited, based in Chatham, UK, is a small, family-run business with an active status, having been established 26 years ago. The company employs 11 people and holds £809,077 in assets. It operates from a virtual address, registered with 42 other companies, and is led by three directors and two owners. A key feature is its e-commerce site, specializing in snow chains, and boasts a perfect 5.0 Google rating from 38 reviews. It’s a regular importer of iron or steel products, having imported for 10 months, with the latest import occurring in October 2024.

The company’s website, snowchains.com, is the central hub for its operations. It’s a specialist supplier of snow chains for various vehicle types, from passenger cars to commercial vehicles. The site offers a wide range of products, including snow socks and accessories, and emphasizes expert advice and fast delivery. The company even supplies to organizations like the MOD and Fire Service, showcasing its reach and reputation.

Financially, Polar Automotive Limited presents a mixed picture. While current assets increased by a significant 290%, reaching £810,000, net assets declined by 4.6% to £640,000. Bank borrowings decreased by 50%, to £10,000, and cash reserves saw a massive jump of 800%, reaching £620,000. Trade debtors decreased by 26%, suggesting better collection practices. However, other creditors increased by 330%, to £37,000, which could indicate increased supplier costs. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the increase in other creditors warrants closer attention. The accounts are unaudited, as the company is exempt.

Overall, Polar Automotive Limited appears to be in a solid position, benefiting from its strong online presence and reputation. The increase in cash reserves is a positive sign, but the rise in other creditors suggests a need for careful financial management.

Registered in England/Wales under the registration number 03633003, with a registered address at ME4 4QZ, United Kingdom, Chatham, Kent, 2nd Floor, Maritime Place Quayside, Chatham Maritime.

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