Elegant Music Limited

  • Small
  • Active
  • 3 years
  • 5 employees
  • £215,284 (assets)
  • Virtual address
  • 1 director
  • 1 owner
  • Irregular importer
  • Solo founder

Field of Operation

Retail sale of musical instruments and scores
47591 1082 companies

Social media

ebay

Summary

Elegant Music Limited, based in Woodford Green, UK, is a small, active company founded three years ago. With five employees and £215,284 in assets, it operates from a virtual address shared by many other businesses—a bit of a red flag. The company is run by a solo founder who also serves as the director and owner, Weir Crispin Hendrick Lloyd. It's an irregular importer of musical instruments and parts, with just one month of import activity recorded as of March 2023.

The company's website, Elegance Music Sheffield, presents a more vibrant picture. It's a multi-faceted business, combining a Sheffield-based music store with an online shop, music tuition services, and even event entertainment—specializing in electric violins and pianos. The site promotes a wide range of products and services, from sheet music and accessories to expert tuition for various instruments, and caters to special occasions with professional musicians. They even offer virtual shop tours, showcasing their extensive inventory.

However, a closer look at the financials reveals some concerning trends. While cash reserves increased by a hefty 490% to £15,000, the company is carrying significant creditors—£480,000, a 29% increase. Trade debtors have also ballooned by 790% to £78,000, suggesting potential issues with customer payments. Net losses remain a challenge, with equity declining by 4.1% to -£200,000. Despite a 40% increase in average employees to seven, the company’s reliance on debt and negative equity raises questions about its long-term sustainability. The lack of an auditor mentioned—likely due to being a small company—means the figures are unaudited.

In short, Elegant Music Limited appears to be a dynamic business with a diverse offering, but its financial health is precarious. The company’s reliance on debt and the negative equity position suggest it’s burning through cash, although the increase in cash reserves is a positive sign. It's a bit of a gamble whether they can keep the music playing.

Registered in England/Wales under the registration number 13632599, with a registered address at IG8 8HD, United Kingdom, Woodford Green, Essex, 19-20 Bourne Court Southend Road.

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

Owners & PSC

  • 1 year
  • 1
  • 75%+

Managers

  • 3 years
  • 3
Director

Last reports

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Last news

  1. Unaudited abridged accounts made up to 2023-12-31
  2. Previous accounting period shortened from 2023-12-29 to 2023-12-28
  3. Previous accounting period shortened from 2023-12-30 to 2023-12-29
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Importer profile by HS codes

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