Luxware Ltd

Luxware Ltd from London UK: a small, active company founded six years ago, employs three people, and holds just £53 in assets. It operates from a virtual address – sixteen companies share the same location – and is led by a solo founder and director, Alshami Israa. The company runs an e-commerce site and has a 3.0 Google rating from 24 reviews. It’s a regular importer of electrical machinery and equipment, with nine months of import activity recorded, the last in 2023.

The company’s core business involves retail sale via mail order and via internet, and the retail sale of telecommunications equipment other than mobile telephones. The website, while basic, showcases a range of products, suggesting a focus on electronics and accessories. It’s a small operation, meeting two of three criteria for a small company: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees.

Financially, Luxware Ltd is showing some concerning trends. Current assets have plummeted 99%, dropping to just £53, while net assets also declined significantly, reaching -£47,000. Bank borrowings have decreased, but cash reserves have evaporated, falling 96% to a mere £53. Creditors have also decreased, which is a positive sign, but the dramatic drop in assets and cash is worrying. Trade debts are zero, which could indicate difficulties in collecting payments. The company’s small size allows for agility, but the sharp decline in equity raises questions about its long-term viability. As a small company, it's exempt from an audit, so the figures are unaudited.

The company’s financial situation suggests it’s burning through cash, although it’s difficult to say if this is a typical startup phase or a more serious issue. The lack of employees and the reliance on a single founder could also be contributing factors.

Registered in England/Wales under the registration number 11888650, with a registered address at NW2 1NT, England, London, 6 Pennine Parade, Pennine Drive.

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