Swim Secure Limited

Swim Secure Ltd, based in Cheltenham, UK, is a small, active company founded eight years ago in 2016. Employing five people, it holds £187,099 in assets and operates a real address. The company is managed by four directors, though it has no listed owners. It runs an e-commerce site specializing in open water swimming safety equipment. Swim Secure regularly imports toys, games, and sports equipment—nineteen months of activity recorded—and exports similar goods, with eight months of export activity.

The company's website, Swim Secure, is dedicated to providing open water swimmers with safety gear, including dry bags, floats, woggles, and goggles. It emphasizes products designed to help swimmers "BeSaferBeSeen." The site also features a blog with articles on topics like cold water swimming and joining open water swimming groups. It even has a section dedicated to ambassadors and stories from swimmers. The site also includes a currency selector, which is a nice touch.

Financially, Swim Secure Ltd presents a mixed picture. Current assets have fallen by a significant 45% to £190,000, and net assets have plummeted 110% to -£330,000. Bank borrowings have increased by 34%, reaching £71,000, while cash reserves have decreased by 30% to £3,400. Creditors have decreased by 14%, which is a positive sign. The company meets two of three criteria for being a small company—turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees—and is therefore exempt from an audit, relying on unaudited financial statements.

The sharp decline in equity is a concern, suggesting the company may be burning through cash. The increase in bank borrowings also indicates a need for external funding. However, the decrease in creditors suggests better debt management. The company’s small size allows it to be agile, but the financial pressures are evident. It's unclear if the company is struggling or if this is a typical phase for a growing business.

Registered in England/Wales under the registration number 10538702, with a registered address at GL53 7ER, United Kingdom, Cheltenham, Gloucestershire, 6 Maida Vale Business Centre, Mead Road.

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