Preston Furniture Solutions Ltd

Preston Furniture Solutions Ltd, based in Kingston Upon Hull, UK, is a small, active company founded eight years ago. With two employees and £204,587 in assets, it operates from a virtual address, a detail flagged by the registration of 171 other companies at the same location. The company is led by two directors and a single owner, who is also the solo founder. It’s an irregular importer, primarily dealing in furniture, lighting, and prefabricated buildings, with just one month of import activity recorded as of October 2022. The company operates in the other professional, scientific and technical activities n.e.c. industries.

The company’s website showcases Preston Furniture Solutions as an independent agency with over 25 years of experience in the furniture industry. It represents European manufacturing partners, offering a diverse range of products and specializing in product development, category management, and sourcing. The company works closely with UK kitchen, bedroom, bathroom, office, and furniture manufacturers, emphasizing long-lasting relationships and a personal approach to service. Recent blog posts highlight the importance of collaboration, smart technology, and the potential of the tiny house movement.

Financially, Preston Furniture Solutions Ltd presents a mixed picture. While average employee numbers increased significantly by 100% to four, cash reserves soared by a staggering 2200% to £86,000. However, net assets grew by 130% to £110,000, and other creditors increased by a substantial 800% to £12,000. Bank borrowings also saw a sharp increase, with overdrafts rising by 22% to £3,100. Trade debtors increased by 210% to £35,000. The company meets the criteria for a small company, with turnover under £10.2m, assets under £5.1m, and fewer than 50 employees. With no auditor mentioned, the figures are unaudited.

Overall, Preston Furniture Solutions Ltd seems to be experiencing a period of growth, but the increase in debt and creditors suggests it’s burning through cash faster than it’s bringing in revenue. The company’s reliance on a virtual address and the lack of a formal audit raise some questions, but its focus on building strong relationships and offering specialized services could help it navigate these challenges.

Registered in England/Wales under the registration number 10623885, with a registered address at HU3 6UU, United Kingdom, Kingston Upon Hull, East Yorkshire, 650 Anlaby Road.

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