Underground Retail Ltd

Underground Retail Ltd from London UK: a small company with an active status, was founded twenty-three years ago. Accounts are currently overdue by a year, and the company employs eight people, holding assets valued at £228,620. Operating from a virtual address, it’s managed by one director and one owner. The company irregularly imports footwear and related items (two months) but regularly exports them (seven months).

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, and fewer than 50 employees. The company’s website, Underground, showcases a diverse range of subculture-inspired clothing, accessories, and footwear, alongside a blog featuring music and film content. It seems to be an e-commerce operation, with a focus on authentic British style and a strong online presence, including social media channels like TikTok, Instagram, and Pinterest. The site also highlights a history dating back to 1981, emphasizing its role as a champion of renegade style.

Financially, Underground Retail Ltd is showing some concerning trends. Accumulated depreciation for computer equipment increased by 9.6%, while furniture fittings saw a 6.0% rise. However, non-property, plant, and equipment increased by a significant 50%, and total property, plant, and equipment rose by 28%. Bank borrowings decreased by 26%, and cash bank on hand plummeted 80% to just £890. Creditors increased by 45%, and trade debtors increased by 1.4%. Equity, however, took a massive hit, decreasing by 530% to -£180,000. Net assets also dropped dramatically.

The company’s small size and lean structure—with just seven employees reported—allow for agility, but the substantial equity decline and depleted cash reserves raise concerns about its financial health. The lack of an auditor mentioned suggests it’s exempt as a small company, so the figures rely on unaudited statements. It’s clear that Underground Retail Ltd is facing financial pressures, despite its strong brand identity and online presence.

Registered in England/Wales under the registration number 04348903, with a registered address at WC1N 3AX, United Kingdom, London, 27 Old Gloucester Street.

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