Swegwayfun Limited

Swegwayfun Ltd from Gravesend UK: a small, active company founded eight years ago, is facing some challenges. With five employees and £254,155 in assets, it operates an e-commerce site selling goods and regularly imports optical and medical tools and devices – five months of import activity were recorded. The company has a real address and is led by a solo founder and one director. However, it’s overdue on both accounts and confirmation statements for a year, and has a Google rating of just 2.0 based on 69 reviews.

The company’s core business is retail sales via mail order and the internet, and it seems to be doing okay in that area. It's a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50. However, a look at the financials reveals a concerning trend. Net assets have plummeted a staggering 1200%, dropping to -£280,000 – a significant loss. Cash reserves have also fallen dramatically, down 76% to just £12,000. Bank borrowings have increased by 39%, reaching £9,700, and creditors have jumped 64%, totaling £410,000. Trade debtors have also decreased, suggesting a possible issue with collecting payments.

The company’s small size helps it remain agile, but the sharp decline in equity is a red flag. The lack of an auditor (likely exempt as a small company) means these figures are unaudited. While Swegwayfun Ltd appears to be operating, the financial data suggests it’s burning through money. It’s clear that the company needs to address these financial pressures to ensure its long-term viability.

Registered in England/Wales under the registration number 10616299, with a registered address at DA12 2DN, England, Gravesend, Unit 14 Block C, Lion Business Park, Dering Way.

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