Music Shop London Limited

Music Shop London Limited, based in South Woodford, UK, is a small, active company founded seven years ago in 2018. It employs just one person and holds £185,597 in assets. The company operates from a virtual address, registered at 5 Chigwell Road, E18 1LR, which is shared by twelve other companies – a potential red flag. It’s led by one director and one owner, Sarmaitis Andrius. The business is an irregular importer, primarily dealing with electrical machinery and equipment, with recent activity recorded in May 2024. The company operates in the non-specialised wholesale trade industries.

The company’s website, Vinyl Shop London, is currently “opening soon,” promising a launch with a password-protected area. It advertises itself as a platform for vinyl enthusiasts, hinting at a future e-commerce focus. The site currently directs visitors to enter a password, suggesting a pre-launch phase and a focus on building anticipation. It's powered by an unstated platform, and the site is currently under construction.

Financially, Music Shop London Limited presents a mixed picture. While cash reserves increased slightly to £3,100, net assets decreased significantly to -£1,400. Bank borrowings have dramatically reduced, falling by 80% to just £7,000 – a positive sign. However, creditors have also decreased, with both Within One Year and After One Year figures dropping, suggesting a need to manage payments. Trade debtors have skyrocketed by 2100%, which could indicate a problem with collecting payments, or a significant expansion of credit terms. The company’s small size (meeting two of three conditions for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) keeps it nimble, but the negative equity and rising debtors are concerning. The accounts are unaudited, and no auditor is mentioned.

In conclusion, Music Shop London Limited is a small operation facing challenges. While the upcoming vinyl shop website suggests a potential growth avenue, the company’s financial health requires close monitoring.

Registered in England/Wales under the registration number 11315779, with a registered address at E18 1LR, England, South Woodford, 5 Chigwell Road.

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