Speedwell Racing Ltd

Speedwell Racing Ltd from Oldham, UK, is a small, active company founded three years ago in February 2022. With just £861 in assets and a virtual address shared by seventy-four other companies, it’s a lean operation run by a solo founder who also serves as both director and owner. The company employs one person and operates in a diverse range of industries, including retail sales via mail order and internet, taxi operation, and other service activities.

The company's website, Speedwell Engineering, specializes in performance, racing, and restoration parts and services for Austin Healey Sprite and MG Midget cars. It offers a wide range of components, from battery boxes and bonnet latching systems to alloy trailing arms and tubular anti-swaybars. The site clearly caters to a niche market of classic car enthusiasts, with a focus on quality and craftsmanship. It’s an ecommerce site, selling parts and services directly to customers.

Financially, Speedwell Racing Ltd presents a mixed picture. Current assets have seen a dramatic increase of 760%, jumping to £860, while net assets have declined by a significant 750%, ending at -£650. Cash bank on hand has also increased substantially, rising 390% to £490. Creditors remain steady at £2400, and the company’s small size (meeting two of three conditions for a small company) allows for flexibility. The lack of an auditor, as it’s exempt as a small company, means these figures are unaudited. Intangible assets have increased, but the company has incurred losses.

Overall, Speedwell Racing Ltd appears to be navigating a challenging financial landscape. While the increase in current assets and cash suggests recent activity, the significant net asset decline and ongoing losses indicate a need for careful management. The company’s niche focus on classic car parts and services provides a potential avenue for sustainable growth, but it will require diligent financial oversight.

Registered in England/Wales under the registration number 13934370, with a registered address at OL9 6HT, England, Oldham, Prospect House, Featherstall Road South.

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