Summit-gate Ltd

Summit-gate Ltd is a small, active company based in Kirkcaldy, Scotland, founded six years ago in 2019. With £58,938 in assets and a real address at 50 Bennochy Road, it operates as a solo-founded business with three directors and one owner, Dada Ifeyinwa. The company runs an e-commerce site selling makeup and cosmetics, boasting a 5.0 Google rating from 12 reviews. It’s an irregular importer, with its top import category being essential oils and perfumes, totaling two months of imports, the last in March 2022.

The company’s website, Summit Gate, showcases a wide range of beauty products, from eyeliner and eyeshadow palettes to lipstick and foundation. It caters to a global audience, offering currency options and shipping to numerous countries. The site also features a blog with articles on makeup techniques and product recommendations—a good way to attract and engage customers.

Financially, Summit-gate Ltd shows some concerning trends. Net assets decreased by 28% to -£86,000, while bank borrowings increased by 12% to £29,000. Cash reserves, however, saw a significant boost, rising by 270% to £400. Creditors also increased by 12% to £29,000. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay nimble, but the decline in equity raises questions. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

Overall, Summit-gate Ltd appears to be navigating a challenging financial landscape. While its e-commerce site and product range are appealing, the company needs to address its equity decline to ensure long-term sustainability.

Registered in Scotland under the registration number SC623403, with a registered address at KY2 5RB, Scotland, Kirkcaldy, 50 Bennochy Road.

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