Velo Inc Ltd

Velo Inc Ltd from Bradford UK: a small, active company founded 11 years ago, is facing some overdue filings. Accounts and confirmation statements are both a year behind, despite holding £42,011 in assets. The company, run by a solo founder and single director, regularly imports toys, games, and sports equipment – five months worth, with the last operation occurring in June 2020.

The company’s website, velo-inc.co.uk, is quite minimalistic. It features a logo and a few brand names, but little else. There's no clear indication of an e-commerce presence, suggesting the company may be operating as a wholesale importer rather than a direct-to-consumer retailer. The site’s design, created by Fontech, feels dated, lacking the polish of a modern online store. It’s possible Velo Inc Ltd focuses on business-to-business sales, relying on offline channels or direct contact with retailers.

Financially, Velo Inc Ltd’s situation presents a mixed picture. While current assets increased by a healthy 49% to £42,000, several key metrics are concerning. Net assets decreased by 3.1% to -£15,000, indicating the company is operating at a loss. Cash bank on hand has fallen 44% to £1,600, and bank borrowings have decreased slightly by 3.6% to £19,000. Trade creditors have increased significantly by 82%, suggesting a reliance on credit from suppliers. The company’s small size (meeting two of three criteria for a small company) means it's likely exempt from an audit, so these figures are unaudited.

The sharp increase in creditors and the declining cash reserves, combined with the negative equity, suggest Velo Inc Ltd is burning through cash. While the increase in assets is positive, it’s not enough to offset the other financial pressures. The lack of employees (zero reported) hints at a lean operation, but it also limits the company’s ability to scale. It's possible the company is struggling to maintain profitability in a competitive market, or perhaps it's undergoing a period of investment that will hopefully yield positive results in the future.

Registered in England/Wales under the registration number 08753791, with a registered address at BD7 2EA, England, Bradford, St Andew Mill, Legrams Lane.

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