Rapid Mobility Limited

Rapid Mobility Ltd from Weymouth UK: a small, active company founded seven years ago, employs four people, and holds £197,049 in assets. It’s a solo-founded business with two directors, operating from a virtual address shared by thirty-two other companies. The company is an irregular importer, primarily dealing in vehicles, parts, and accessories—though only for one month of imports recorded as of February 2022.

The company’s website, Rapid Mobility, presents itself as a supplier of high-quality mobility scooters, wheelchairs, electric beds, and other disability products, serving customers across the UK. It operates two physical locations in Weymouth and Poole, and offers services including repairs, servicing, finance, and insurance. The website highlights a “Pay in 3” financing option and a focus on customer reviews. It also partners with Acorn Stairlifts, offering stairlift solutions. The company’s product range spans from two-wheeled scooters to riser recliners, catering to a wide range of mobility needs.

Financially, Rapid Mobility Ltd shows a mixed picture. Average number of employees increased significantly by 150% to ten, which is a big jump. Cash bank on hand decreased by 55% to £77,000, and current assets fell by 38% to £200,000. Bank borrowings increased by 48% to £15,000, and net assets dropped 34% to £200,000. Creditors increased by 210% to £34,000, suggesting a need to manage debt more closely. Despite being a small company (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees), the equity drop is a concern. The company is exempt from an audit, so the figures are unaudited.

The increase in employees and the rise in bank borrowings could indicate expansion, but the decrease in cash reserves and the rise in creditors suggest the company is burning through money. It's likely that the company is trying to grow quickly, but needs to manage its finances more carefully.

Registered in England/Wales under the registration number 10914420, with a registered address at DT4 9GD, United Kingdom, Weymouth, Select, C/O Dorset Accountancy Limited Unit 2.11, City & Provincial House, Surrey Close.

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