Colourful Rain Ltd

Colourful Rain Ltd from Bolton UK: a small, active company founded four years ago, holds £7,828 in assets, and operates from a real address. It’s a solo founder venture with one director and owner, Ogunyode Christopher Oluseun. The company is an irregular importer, primarily bringing in clothing and accessories made by knitting or crocheting – just one month of import activity was recorded as of February 2022.

The company’s website is currently unavailable, making it difficult to assess its online presence and sales channels. It’s unclear whether they operate an e-commerce site or rely on wholesale distribution.

Financially, Colourful Rain Ltd presents a mixed picture. Current assets have decreased slightly, falling by 1.4% to £7,800. However, net assets have significantly declined, plummeting 94% to -£2,600 – a substantial loss. Bank borrowings have increased by 12%, reaching £10,000, while cash reserves remain at a modest £28. Creditors have also increased by 12%, reaching £10,000. The company, meeting two of three criteria for a small business (turnover under £10.2m, assets under £5.1m, and fewer than 50 employees), is likely exempt from an audit, with the financial data being unaudited.

The company’s description indicates it operates in the retail sale of clothing, but the lack of a functional website and the financial strain raise questions about its current viability. The significant losses suggest the business may be burning through cash, although the increase in bank borrowings could indicate efforts to secure funding.

Registered in England/Wales under the registration number 12853096, with a registered address at BL4 7PJ, England, Bolton, 7 Carlton Street, Farnworth.

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