Modam Furniture Ltd

Modam Furniture Ltd, based in London, UK, is a small, active company founded four years ago. With a real address and a solo founder who also serves as director and owner, the company employs just one person and holds £96,737 in assets. It’s a regular importer, bringing in furniture, lighting, and prefabricated buildings—a trend spanning 29 months, with the most recent import occurring in July 2024. Accounts are currently overdue by three months.

The company’s website showcases a range of furniture, from modern sofa sets and corner seats to tables, chairs, and beds. It positions itself as offering high-quality, stylish pieces, with a focus on interior design support and assembly services. The site highlights a philosophy of simplicity and quality, and even offers interior design consultation services, promising to help customers renew their living spaces. It also has a small selection of accessories like plant pots and teapots for sale.

Financially, Modam Furniture Ltd is showing some concerning trends. While current assets remain stable at £97,000, net assets have plummeted 150% to -£190,000. Bank borrowings have increased by 4.4% to £200,000, and cash reserves have fallen dramatically, ending at -£19,000. Trade debtors have increased by 9700%, which could indicate a problem with collecting payments. The company's small size—meeting two of three criteria for being classified as small—helps it remain flexible, but the significant decline in equity raises questions about its long-term viability. There's no auditor mentioned, likely due to the company's exemption as a small entity, meaning these figures are unaudited.

The company’s rapid growth in imports, combined with the negative equity, suggests it may be burning through cash to expand its inventory. Whether this is a strategic investment or a sign of financial strain remains to be seen, but Modam Furniture Ltd is certainly at a critical juncture.

Registered in England/Wales under the registration number 13348226, with a registered address at E9 6NA, England, London, 90 Morning Lane.

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