Sip Sportswear Limited

Sip Sportswear Ltd, based in Morecambe, UK, is a small, active company founded just three years ago. With a single employee and £10,070 in assets, it operates from a virtual address—a detail noted by the registration of 105 other companies at the same location—and is led by a solo founder who also serves as director and owner. The company runs an e-commerce site specializing in sportswear and irregularly imports clothing and accessories, not knitted or crocheted, with the last import occurring one month ago.

The website, sip-sportswear.com, showcases a range of designer sportswear focused on performance and style. It highlights technical t-shirts, 3-in-1 detachable shorts, and loose-fit options, emphasizing flexibility, comfort, and durability. Customer reviews praise the quality and innovative designs, particularly the detachable shorts and lightweight technical t-shirts. The site also features a community section with videos and social media links, encouraging engagement and brand loyalty.

Financially, Sip Sportswear Ltd presents a mixed picture. Cash reserves have dramatically decreased by 96%, dropping to just £30, while creditors have surged by 190%, reaching £13,000. Current assets, however, have increased significantly by 1,100%, rising to £10,000. The company’s net assets are down 42%, sitting at -£18,000. Despite meeting two of the three criteria for a small company—turnover under £10.2m, assets under £5.1m, and fewer than 50 employees—the increase in creditors and decrease in cash suggest it's burning through money. The lack of an auditor, typical for a small, exempt company, means the figures are unaudited. It's likely the company is still navigating the challenges of a startup, relying on its innovative designs and online presence to sustain growth.

Registered in England/Wales under the registration number 13720989, with a registered address at LA4 5HR, United Kingdom, Morecambe, Lancashire, The Old Court House, Clark Street.

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