Udare Limited

Udare Ltd from London UK: a large company with an active status, was founded 38 years ago. It employs ten people and holds £4,881,766 in assets, operating from a real address. The company is led by three directors and has one owner, boasting a stellar 5.0 Google rating based on one review. Udare Ltd regularly imports clothing and accessories, not knitted or crocheted, with 140 months of import activity.

However, a closer look at Udare Ltd’s website reveals a surprising shift in focus. While the company’s core business appears to be wholesale of clothing and footwear, the website prominently features "uDare," a mobile app designed to connect people with sports and fitness activities. The app promises instant booking of sports venues, invites to play with friends, and a range of features to enhance the user experience. It’s a bold move, suggesting a desire to diversify beyond traditional wholesale operations.

Financially, Udare Ltd’s recent performance presents a mixed picture. While assets remain substantial, several key metrics indicate potential challenges. Net assets decreased by 14%, dropping to £2,600,000. Bank borrowings increased significantly, rising by 40% to £1,700,000, and cash reserves declined by 30% to £840,000. Creditors also increased by 22%, reaching £1,500,000. The company’s large size (meeting two of three criteria for a large company: turnover over £36 million, balance sheet total over £18 million, and over 250 employees) suggests a significant operational scale, but the rise in debt and decrease in cash raises concerns. The company’s shift towards the uDare app may be an attempt to tap into the growing sports and fitness market, but it also introduces new risks and requires substantial investment. The lack of an auditor mentioned in the report suggests the company is exempt, relying on unaudited financial statements.

The company's staff costs increased by 88%, which is a large jump. It’s unclear if this is due to the new app or other factors. Overall, Udare Ltd is navigating a period of change, balancing its established wholesale business with a new venture in the digital sports and fitness space.

Registered in England/Wales under the registration number 02119045, with a registered address at NW6 2HP, London, Unit 2 Hampstead West, 224 Iverson Road.

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