Wejustraffle Limited

Wejustraffle Limited is a small, active company based in Glasgow, UK, founded four years ago in December 2020. It operates in the retail sale via mail order houses or via internet industries and currently employs one person. The company holds £57,183 in assets and has a virtual address registered at 42 Nithsdale Road, Glasgow, with 171 other companies sharing the same location. It’s led by one director and one owner, Merati Mohammad Hossein.

The company’s website, Wejustraffle, is a vibrant online platform offering a unique raffle experience. Users can choose from a range of prizes, including high-end electronics, luxury watches, and even performance cars, or opt for cash alternatives. The site emphasizes a skill-based question and lucky number selection, with live Facebook draws to determine winners. The site also boasts a "wheel" feature, offering discounts and prizes to visitors. It’s a fun, engaging experience, and the site is clearly focused on attracting and retaining customers.

Financially, Wejustraffle Limited presents a mixed picture. While cash bank on hand has increased significantly by 930%, from £5,600 to £57,000, net assets still sit at a negative £6,200. This suggests the company is reinvesting heavily in its operations, possibly to expand its prize pool or marketing efforts. Creditors have increased substantially, by 350%, reaching £65,000, which could be a result of increased supplier payments. Amounts owed to directors have also risen dramatically, by 3900%, to £64,000. The company's small size (meeting two of three criteria for a small company) allows it to be agile, but the negative equity is a concern. The accounts are unaudited, which is typical for small companies exempt from an audit.

Overall, Wejustraffle Limited appears to be a dynamic startup burning through cash to fuel its growth. Whether this strategy will pay off in the long run remains to be seen, but the company's engaging website and unique raffle concept suggest it has potential.

Registered in Scotland under the registration number SC682656, with a registered address at G41 2AN, Scotland, Glasgow, 42 Nithsdale Road.

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