Group Hug Ventures Ltd

Group Hug Ventures Ltd from Southampton UK is a small company with an active status, founded four years ago. It employs just one person and holds £37,008 in assets, operating from a real address. The company has two directors and two owners, with Brierley Martin Ashton and Thorne Thomas William at the helm.

The company’s website, Grouphug Solar, showcases a range of window solar chargers, marketed as "As Seen On Shark Tank." The site highlights a new, improved 2nd edition charger with double the USB ports and battery life, emphasizing ease of use and renewable energy accessibility. It even has a blog. The company's story reveals it was founded by industrial designer Krystal Persaud, who secured a deal with Mark Cuban on Shark Tank.

Financially, Group Hug Ventures Ltd shows some concerning trends. Current assets decreased by 16% to £37,000, while net assets fell 20% to -£200,000. Cash reserves are negative at -£160, while bank overdrafts have increased to £160. Creditors remain stable at £120,000, but trade debtors have vanished completely. The company’s small size—meeting two of three conditions for a small company—helps it stay nimble, but the significant equity decline suggests it’s burning through cash. With no auditor mentioned, the figures are unaudited.

It seems Group Hug Ventures Ltd is facing challenges. The company’s focus on solar chargers, backed by Shark Tank exposure, is a promising avenue, but the financials indicate a need for careful management to avoid running out of money.

Registered in England/Wales under the registration number 12991667, with a registered address at SO15 2NP, United Kingdom, Southampton, Hampshire, C/O James Cowper Kreston White Building, 1-4 Cumberland Place.

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