Winging It Limited

Winging It Watersports, based in Lewes, UK, is a small, active company founded 23 years ago. With three employees and £34,726 in assets, it's a family business led by two directors and two owners, the Purdie family. The company operates from a real address within an industrial park and is registered as a small entity, meeting two of three conditions for classification (turnover under £10.2m, assets under £5.1m, and fewer than 50 employees). It’s an irregular importer, primarily dealing in aircraft, spacecraft, and their parts, with its last import operation occurring two months ago in September 2022.

The company's website reveals a vibrant watersports business focused on wingfoiling, a rapidly growing sport combining windsurfing and kitesurfing. It functions as a supplier, school, and retailer, offering lessons, equipment hire, and sales of Slingshot and Ride Engine brands. The site promotes itself as the "best equipped and qualified Eastcoast Wingfoil School," catering to both beginners and experienced enthusiasts. It also sells wetsuits, accessories, and even offers used equipment and wingfoil packages. The site's blog and photo/video sections further enhance its online presence, and it delivers across the East Coast areas of Essex and Suffolk.

Financially, Winging It Watersports presents a mixed picture. Current assets have fallen by 20%, dropping to £35,000, while net assets have plummeted by a staggering 2900%, settling at -£14,000. Bank borrowings have increased significantly, jumping 2400% to £2700, and cash reserves have virtually disappeared, falling 100% to a mere £14. Creditors have also risen by 13%, reaching £49,000. Despite these challenges, trade debtors have increased, suggesting better debt management. The company's small size allows for agility, but the substantial equity decline warrants attention. The unaudited financial statements, typical for a small company, rely on director-reported data.

Overall, Winging It Watersports appears to be navigating a period of financial strain, despite its strong online presence and niche market focus. The company's reliance on seasonal watersports activity and the recent increase in borrowing suggest a need for careful financial management to ensure long-term sustainability.

Registered in England/Wales under the registration number 04306838, with a registered address at BN8 6BN, England, Lewes, East Sussex, Unit 4 Stone Cross Farm Industrial Park, Lewes Road, Laughton.

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