Wattcars.com Ltd

Wattcars Com Ltd, based in Dudley, UK, is a small, family-run business with an active status, having been founded 20 years ago. The company employs just two people and holds £265,625 in assets. It operates from a real address and is managed by one director and two owners. Wattcars regularly imports vehicles, parts, and accessories (excluding trains and trams), with four months of import activity recorded. It’s also a seasoned exporter, having exported for 223 months.

The company’s website is non-existent, which makes it difficult to understand the full scope of their operations. However, the company appears to be involved in the sale of new and used cars, light motor vehicles, and the wholesale trade of motor vehicle parts and accessories.

Financially, Wattcars Com Ltd shows some concerning trends. While current assets are £270,000, they’ve decreased by 62% compared to the previous year. Net assets have also fallen by 50% to £54,000. Bank borrowings have increased significantly, reaching £29,000, and cash reserves have plummeted 35% to £84,000. On a positive note, creditors have decreased by 65%, suggesting improved debt management. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the decline in equity is a cause for concern. No auditor is mentioned, which is common for small companies exempt from an audit.

The company’s profit loss has also dramatically shifted, with a loss of £54,000 compared to a profit of £61,000 the previous year. This, combined with the decrease in assets, suggests the company is burning through money. While the company’s long history and family ownership are strengths, it will need to address these financial challenges to ensure its long-term sustainability.

Registered in England/Wales under the registration number 05261693, with a registered address at DY2 7DN, England, Dudley, West Midlands, Ferndale House, Firs Street.

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