South Cars Ltd

South Cars Ltd is a small, active company based in London, UK, founded six years ago in 2018. It employs just one person and holds £502,540 in assets. The company operates from a virtual address – eighty-five companies registered at the same location – and is led by a single director and owner. South Cars Ltd is an irregular importer, primarily dealing in vehicles, parts, and accessories (excluding trains and trams), with its last import operation recorded one month ago.

The company's activities encompass the sale of used cars and light motor vehicles, as well as the renting and leasing of these vehicles. While it doesn's have a website, its business model suggests a focus on B2B or local sales rather than direct-to-consumer e-commerce.

Financially, South Cars Ltd presents a mixed picture. Current assets have seen a significant jump, increasing by 790% to £500,000, while net assets have decreased by 170% to -£4,300. Bank borrowings decreased by 10%, and cash bank on hand increased by 32%. Trade debtors have also increased substantially, rising by 960%. The company’s small size—meeting two of three conditions for a small company—allows for flexibility, but the decline in equity is concerning. As a small company, it is exempt from an audit, so the financial data is unaudited.

The company's director, Abiodun Latifat Mojisola, appears to be handling all aspects of the business. The fluctuating financial figures suggest the company may be experiencing cash flow challenges, possibly due to delayed payments from customers or increased expenses. It’s possible the company is reinvesting heavily in inventory or expanding its operations, but the negative equity warrants close monitoring.

Registered in England/Wales under the registration number 11564989, 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.