The Performance Shop Limited

The Performance Shop Limited, based in Meopham, UK, is a small, active company founded seven years ago in 2018. With a single employee and £30,947 in assets, it operates from a real address within Bowes Business Park. The company is run by a solo founder, Sherwood Reece, who also serves as both director and owner. It’s an irregular importer, primarily dealing in machinery, boilers, and mechanical appliances, with its last import activity recorded one month ago in November 2022.

The company's website showcases a specialist retailer focused on performance parts and servicing, particularly for Mazda RX7, RX8, and MX5 models, as well as Subaru WRX. It offers a range of products from braided brake lines to carbon fibre catch cans, alongside custom exhaust services and engine rebuilds. The site also features a blog and a dedicated section for merchandise, suggesting a focus on building a community around its niche automotive interests. It’s clear they’re aiming for a customer base of enthusiasts and performance-minded drivers.

Financially, The Performance Shop Limited presents a mixed picture. Accumulated depreciation on plant and machinery decreased by 25%, indicating a possible write-down or revaluation, while bank borrowings remained steady at £24,000. Cash reserves held steady at £11,000. Creditors also stayed the same at £24,000. However, the company’s equity dropped significantly, reaching -£29,000, which is a concerning trend. While the company meets the criteria to be considered small (turnover under £10.2m, assets under £5.1m, and fewer than 50 employees), the negative equity suggests it’s burning through cash. There's no auditor mentioned, which is typical for small companies.

Overall, The Performance Shop Limited appears to be a specialist retailer navigating the challenges of a niche market. While its website and product offerings are well-presented, the negative equity raises questions about its long-term financial health. It's likely that the company is relying on its expertise and loyal customer base to weather this period of financial strain.

Registered in England/Wales under the registration number 11325951, with a registered address at DA13 0QB, England, Meopham, Kent, Prestons Unit 5, Bowes Business Park, Wrotham Road.

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