Relax Furniture Ltd

Relax Furniture Ltd, based in Ipswich, UK, is a long-standing family business with an active status, having been founded seventy-one years ago in 1953. Employing just six people, the company operates from a real address and is managed by three directors and two owners. It runs an e-commerce site and enjoys a stellar 5.0 Google rating from thirty-one reviews. The company is an irregular importer, with its top import category being Furniture, Lighting, and Prefabricated Buildings, totaling two months of imports, the last in 2022.

The business primarily operates in the retail sale of carpets, rugs, wall and floor coverings, and furniture, lighting, and similar items. It’s a small company, meeting two of three criteria: turnover under £10.2 million, assets under £5.1 million, and fewer than fifty employees. The website, while not extensively detailed, showcases a traditional furniture retailer with a focus on quality and customer service.

Financially, Relax Furniture Ltd presents a mixed picture. Accumulated depreciation on vehicles decreased by 9.2%, while cash reserves grew by 6.6% to £170,000. However, bank borrowings decreased by 13%, and creditors dropped significantly by 72% to £180,000—a positive sign of improved debt management. Trade debtors, however, plummeted by 89%, which might suggest a shift in credit policies or delayed payments. Equity increased by 23% to £77,000. The company's net assets grew by 8.3% to £190,000. There is no auditor mentioned, likely due to its small size and exemption from an audit.

Overall, Relax Furniture Ltd appears to be navigating a period of change. While the financial numbers are not dramatically positive, the decrease in creditors and increase in cash reserves suggest a degree of stability. The long history and positive customer reviews indicate a well-established brand, but the significant drop in debtors warrants further observation.

Registered in England/Wales under the registration number 00521293, with a registered address at IP1 2LL, Ipswich, 82 Bramford Road.

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