1066 Group Ltd

1066 Group Ltd from Cambridge UK: a small, family-run holding company with an active status. Founded nine years ago in December 2015, the business employs sixteen people and holds assets worth £1,401,187. It has a real address, four directors, and five owners. The company regularly imports and exports musical instruments and parts—nineteen months of imports and six months of exports recorded.

The company’s website, 1066 Pianos, reveals a significant and prestigious arm of the business: piano restoration. Established in 1975, the piano division celebrates its 50th anniversary this year and operates from Cambridge with a showroom in Harrods, London. They specialize in museum-grade restorations, integrating self-play systems, and even offering disaster recovery services for damaged pianos. The website emphasizes British craftsmanship and a family-run legacy.

Financially, 1066 Group Ltd shows some concerning trends. Current assets have decreased by 22%, dropping to £1,400,000, while net assets have fallen 10% to £680,000. Bank borrowings have dramatically increased by 2,300%, reaching £240,000, and cash reserves have declined by 38% to £350,000. Creditors have also decreased by 47%, which could indicate improved debt management. The company meets two of three criteria to be considered small—turnover under £10.2 million, assets under £5.1 million, and fewer than fifty employees. With no auditor mentioned, the figures are unaudited.

The company’s significant decrease in equity raises questions about its long-term financial health. The piano restoration side, meanwhile, thrives on heritage and prestige, creating a contrast to the more modest import/export operations. It's unclear if the two can sustain each other, but for now, 1066 Group Ltd is navigating a period of financial pressure.

Registered in England/Wales under the registration number 09913626, with a registered address at CB21 5DL, United Kingdom, Cambridge, 20-24 Pierce Lane, Fulbourn.

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