Red Eight Gallery Ltd

Red Eight Gallery Ltd, based in Milton Keynes, UK, is a small, active company founded six years ago. With two employees and £733,283 in assets, it operates from a real address and is led by a solo founder who also serves as director and owner. The gallery is an irregular importer of art and antiques (one month of imports) but a regular exporter (six months of exports). It’s a small company, meeting two of three conditions: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees.

The gallery’s website showcases a vision to represent emerging and established artists, offering investment services and specialist advice to collectors. It operates from The Royal Exchange in London, and the site highlights a focus on high-quality artwork and managed investment services. The gallery also offers gallery hire and actively promotes its artists through social media and a mailing list. The website clearly aims to attract both seasoned collectors and those new to the art world, emphasizing the potential for investment and personal enjoyment.

Financially, Red Eight Gallery Ltd’s recent performance is concerning. Net assets have plummeted by a staggering 480%, falling to -£530,000, a significant downturn. Cash reserves have also decreased by 21%, to £42,000. Bank borrowings have increased, with an overdraft rising to £270. While trade debtors have increased by 57%, suggesting more customers are paying, creditors have also ballooned by 180%, indicating a growing need to manage liabilities. The company's reliance on retained earnings has clearly been impacted. There is no auditor mentioned, which is likely due to its status as a small company. It's a worrying trend, though the gallery's focus on investment services and high-value artwork could be a strategy to offset these challenges.

Registered in England/Wales under the registration number 11774145, with a registered address at MK9 1BP, Milton Keynes, Buckinghamshire, The Pinnacle, 170 Midsummer Boulevard.

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