I Must Have It Ltd

I Must Have It Ltd, based in Birmingham, UK, is a small, family-run business with an active status. Founded six years ago in 2019, it holds £285,584 in assets and operates from a real address in Edgbaston. With two directors and two owners, the company appears to be a tightly managed operation. It’s a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50.

The company’s website, while not readily available for detailed analysis, indicates a focus on retail sales via mail order and the internet, as well as other non-specialized retail outlets. This suggests an e-commerce operation, likely selling a range of consumer goods directly to customers. It’s hard to say exactly what they sell, but it's likely a broad selection of products aimed at a general audience.

Financially, I Must Have It Ltd presents a mixed picture. Accumulated depreciation on computer equipment increased by 25%, while furniture fittings saw a 18% rise. Motor vehicles depreciation jumped a significant 75%, reflecting potential investments in transport. Bank borrowings decreased by 13%, which is a positive sign, but cash bank on hand fell by 35%. Creditors decreased by 27%, suggesting better debt management. However, retained earnings plummeted 770%, a substantial decline that warrants closer scrutiny. Loans from directors increased by 44%, indicating reliance on personal funding. Despite these challenges, net assets still rose by 770%, a significant improvement. The lack of employees (zero reported) hints at a lean operation. With no auditor mentioned, the figures are unaudited.

Overall, I Must Have It Ltd seems to be navigating a period of change. While the company has a solid foundation and a clear business model, the significant equity drop and reliance on director loans suggest potential financial pressures. It’s likely the company is still growing, but it needs to carefully manage its finances to ensure long-term sustainability.

Registered in England/Wales under the registration number 11769040, with a registered address at B15 3UR, England, Birmingham, 18 Hermitage Road, Edgbaston.

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