Martunis Ltd

Martunis Ltd from Birmingham, UK, is a small, active company founded five years ago in 2019. With two employees and £75,576 in assets, it operates as a solo-founded business with one director and owner. The company runs an e-commerce site and boasts a 3.0 Google rating based on eight reviews. It’s a regular importer of electrical machinery and equipment, having imported for six months, with the last import operation occurring in February 2022.

The company’s website, Martunis Office Chairs, focuses on selling office furniture, particularly gaming and ergonomic chairs. The site emphasizes free next-day delivery, a money-back guarantee, and online support. It’s a modern e-commerce operation with a range of products and competitive pricing.

Financially, Martunis Ltd presents a mixed picture. Current assets have decreased by 23%, dropping to £76,000, while net assets have plummeted 940%, landing at -£62,000. Bank borrowings have increased by 11%, reaching £38,000, and cash reserves have fallen 81%, leaving only £550. Creditors have risen by 30%, reaching £140,000. The company meets the criteria for a small business, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. There’s no auditor mentioned, as the company is likely exempt as a small business.

The sharp decline in equity is concerning, suggesting the company is burning through cash. While the e-commerce site appears to be operating, the financials indicate a need for careful management. It’s possible that the company is reinvesting heavily in its business, but the lack of positive retained earnings is something to keep an eye on.

Registered in England/Wales under the registration number 12199293, with a registered address at B44 8NA, England, Birmingham, Unit 11 509 Aldridge Road, Great Barr.

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