Classic Diamonds Limited

Classic Diamonds Ltd, based in Birmingham, UK, is a small, family-run business with an active status. Founded twenty-three years ago in 2001, it employs just two people and holds assets totaling £381,409. The company, which has four directors and two owners, operates from a real address and runs an e-commerce site, importing jewelry, precious stones, and metals irregularly – with just two months of import activity recorded, the last in May 2023.

The company's website showcases a wide range of diamond jewelry, from engagement rings and wedding bands to necklaces, pendants, and bracelets. It also highlights a growing selection of lab-grown diamonds, catering to modern preferences. The site emphasizes bespoke ring design, expert advice, and a luxury boutique experience in Birmingham's Jewellery Quarter. It’s clear that the business is targeting a premium market, offering both traditional and contemporary diamond jewelry options.

Financially, Classic Diamonds Ltd presents a mixed picture. Current assets have decreased by 12%, falling to £380,000, while net assets have also declined by 26%, settling at £170,000. Bank borrowings have been reduced significantly, dropping by 42% to £8,600, and cash reserves have increased by 22%, reaching £89,000. Creditors have also decreased, falling by 7.7% to £230,000. The company meets the criteria for a small business, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The unaudited figures, as is typical for small companies, rely on director-reported data.

The decrease in assets and net assets, while concerning, could be due to investments in inventory or marketing efforts to support the growing lab-grown diamond selection. The reduction in bank borrowings is a positive sign, suggesting improved financial management. While the company’s future is likely to depend on its ability to capitalize on the growing demand for lab-grown diamonds and maintain its reputation for quality and service, Classic Diamonds Ltd appears to be holding its own in a competitive market.

Registered in England/Wales under the registration number 04266227, with a registered address at B18 6LE, Birmingham, 16 Vyse Street, Hockley.

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