Floating Palace Ltd

Floating Palace Ltd is a small, active company based in Edinburgh, UK, founded five years ago in 2019. With £151,060 in assets and a real registered address, it’s a solo-founded operation run by a single director and owner, Liu Mufeng. The company operates in the wholesale of perfume and cosmetics, retail sale via mail order houses or via internet industries, and regularly exports clocks, watches, and their parts—with six months of export activity recorded.

The company’s website, Floating Palace, is primarily a Bandcamp page showcasing instrumental groove-focused music from the West Midlands, UK. It features a debut EP comprising three tracks built off loose jams, drawing inspiration from funk, soul, African music, and more. The music is self-recorded and produced, with a focus on quality and unique sounds. The site functions as a digital storefront, allowing fans to purchase and stream the music.

Financially, Floating Palace Ltd shows some concerning trends. Current assets decreased by 38% to £150,000, while net assets plummeted 11% to -£46,000. Bank borrowings have not been reported. Cash reserves fell to just £6, a significant drop. Trade debtors also decreased by 38% to £150,000. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it remain agile, but the sharp equity drop raises questions about its financial health. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

While the music project appears active and well-received on Bandcamp, the financials reveal strain. Whether this is typical startup turbulence or a longer-term challenge remains to be seen—but for now, Floating Palace Ltd is betting on its unique sound and online presence to turn the tide.

Registered in Scotland under the registration number SC644612, with a registered address at EH2 3JG, Scotland, Edinburgh, 101 Rose Street South Lane.

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