Clippings Limited

Clippings Ltd from London UK: a small holding company with an active status, was founded twelve years ago and employs twenty-five people. It holds £439,456 in assets, operates from a virtual address, and is managed by three directors and one owner, boasting a 3.0 Google rating from fifteen reviews. The company regularly imports and exports furniture, lighting, and prefabricated buildings, with thirty-one months of import activity and fourteen months of export activity.

The company’s website, Material Bank, is a platform for architects and interior designers to search and sample materials. It’s not a retailer in the traditional sense, but rather a facilitator connecting brands with specifiers. The site offers access to hundreds of leading brands, free samples with next-day delivery, and a suite of tools for managing projects and discovering new materials. It's a B2B platform, offering custom modules and even a CEU webinar series.

Financially, Clippings Ltd’s report paints a mixed picture. Current assets have plummeted by a staggering 89%, dropping to just £440,000, while net assets have also taken a hit, decreasing by 130% to -£8.8 million. Bank borrowings have risen significantly, and cash reserves have fallen by 77% to just £62,000. Creditors have also decreased, suggesting better debt management, but the overall trend is concerning. The company meets two of three criteria to be considered small, and it’s likely that the financial statements are unaudited.

The sharp decline in equity and cash reserves suggests the company is burning through money, likely due to the costs associated with maintaining the Material Bank platform and acquiring new brands. While the platform itself appears successful, with a growing community of designers and architects, Clippings Ltd may be struggling to achieve profitability. The lack of an auditor mentioned further complicates the picture, making it difficult to assess the company’s true financial health.

Registered in England/Wales under the registration number 08356423, with a registered address at EC3M 7AF, United Kingdom, London, The Scalpel, 18th Floor, 52 Lime Street.

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