The Roofrack Company Sw Ltd

The Roofrack Company SW Ltd is a small, active company registered in Crediton, UK, founded three years ago in March 2022. With just one employee and £19,094 in assets, it operates from a virtual address shared by nineteen other companies, a fact that raises a few questions. The company is led by a single director and owner, Ian Stephenson, and focuses on the retail and online sale of roof boxes, roof racks, and accessories. Its website, The Roofrack Company, highlights a commitment to quality products and customer service.

The company’s operations extend beyond its online presence, with a focus on retail via mail order and internet sales. It’s a niche market, catering to customers seeking specialized roof-mounted storage and transport solutions. While the business seems to be doing well, it’s a small operation, meeting two of three criteria to be classified as small (turnover under £10.2m, assets under £5.1m, and fewer than 50 employees).

Financially, The Roofrack Company SW Ltd has experienced some turbulence. Current assets have fallen by a significant 40% to £19,000, and net assets have plummeted 93% to a mere £460. Cash reserves have also decreased by 80%, leaving just £3,700 in the bank. On the positive side, trade creditors have decreased by 51%, suggesting improved debt management. The company's director’s loan account shows a large increase of 20,000% in specific advances, from -£20 to £3,900. With no auditor mentioned, the financial statements are unaudited.

These numbers suggest the company is facing financial pressures, possibly due to increased costs or slower sales. The significant drop in net assets is a cause for concern, and the reliance on bank borrowings could create further strain. However, the decrease in trade creditors indicates that the company is managing its short-term liabilities effectively. It’s a small company, so it’s likely to be adaptable, but it will need to address these financial challenges to ensure its long-term viability.

Registered in England/Wales under the registration number 14017230, with a registered address at EX17 3LQ, England, Crediton, 130a High Street.

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