Linen Galaxy Limited

Linen Galaxy Limited, based in Manchester, UK, is a small, active company founded seven years ago. With two employees and £95,075 in assets, it operates from a real address and is managed by one director and owner, Hanif Samra. The company specializes in retail sales via mail order and internet, offering a range of linen-related products.

The company’s website, while not directly selling products, serves as a platform for the Alliance for European Flax & Linen, a broader organization promoting the European flax and hemp industries. It’s a hub for information on flax and hemp cultivation, processing, and usage, catering to professionals in the fashion, home decor, and technical sectors. The site also features a “Linen Hemp Dream Lab,” a sourcing platform connecting buyers with European flax and hemp suppliers. It’s clear the company's primary role is to promote and facilitate the European flax and hemp industries, rather than direct retail.

Financially, Linen Galaxy Limited presents a concerning picture. Net assets have plummeted by a staggering 92%, dropping to just £1,200—a dramatic shift from the previous year's £15,000. Cash reserves have also shrunk significantly, falling 55% to £5,300. Bank borrowings, however, increased slightly, reaching £38,000. Trade debtors have risen by 37%, potentially indicating difficulties in collecting payments. Creditors also increased, with “Other Creditors” experiencing a massive 13,000% jump. The company's small size (meeting two of three criteria for a small company) means it's likely exempt from an audit, and the figures are unaudited.

These trends suggest Linen Galaxy Limited is experiencing financial strain. The substantial drop in equity and cash reserves, coupled with rising debt, paints a picture of a company struggling to maintain its financial health. While the broader Alliance for European Flax & Linen appears to be a thriving organization, Linen Galaxy Limited's individual performance raises questions about its sustainability. It's worth noting that the company’s focus on promoting the industry, rather than direct sales, might explain some of these challenges—but a closer look at its operational efficiency is probably needed.

Registered in England/Wales under the registration number 10767718, with a registered address at M8 8RA, England, Manchester, 72 North Street.

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