Hhi Sofa Ltd

Hhi Sofa Ltd, based in Walsall, UK, is a small, active company founded just four years ago in 2020. With £64,844 in assets and a real address, it's a family-run operation with two directors and a solo founder, Yousaf Ikraam. The business operates an e-commerce site, Hhi Sofas, and boasts a respectable 4.0 Google rating from 38 reviews. The company is an irregular importer, bringing in furniture, lighting, and prefabricated buildings, with the last import operation occurring two months ago in September 2023.

The Hhi Sofas website showcases a wide range of furniture, from fabric and leather sofas to corner sofas, recliners, and sofa beds. The site emphasizes luxury and comfort, with many items offered in installments. It also highlights customer support and free delivery, common features of online furniture retailers. There's a strong focus on sales and special offers, suggesting a competitive pricing strategy.

Financially, Hhi Sofa Ltd presents a mixed picture. While current assets decreased by 5.6% to £65,000, bank borrowings decreased by 24% to £38,000. Creditors decreased by 24% to £38,000. However, net assets declined by 180% to £8,900, and trade debtors plummeted by 100% to zero—a significant change. The company meets two of the three criteria to be considered small, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. With no auditor mentioned (likely exempt as a small company), the unaudited figures rely on director-reported data.

Overall, Hhi Sofa Ltd appears to be navigating a challenging financial landscape. The company's focus on online sales and competitive pricing suggests an attempt to maintain market share, but the declining equity raises concerns. Whether the company can sustain its growth and profitability remains to be seen, and it’s clear that the business is working hard to keep customers happy.

Registered in England/Wales under the registration number 12681351, with a registered address at WS1 3DF, England, Walsall, Unit 5 Mahal Building, New Street.

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