Rhodes Music Group Ltd

Rhodes Music Group Ltd from Hailsham UK is a small, active company founded five years ago. With fourteen employees and £1,183,566 in assets, it operates from a virtual address—a detail worth noting as 177 companies are registered at the same location. The company is led by three directors and has two owners, though the list of owners changed eight months ago. Rhodes Music Group Ltd regularly imports and exports musical instruments and parts, with 8 months of import activity and 17 months of export activity recorded as of October 2024.

The company’s website doesn’t provide much detail beyond its name, suggesting a primarily business-to-business operation rather than a consumer-facing e-commerce platform. It’s likely that Rhodes Music Group Ltd focuses on supplying instruments and parts to retailers, repair shops, or other businesses within the music industry.

Looking at the financial data, Rhodes Music Group Ltd’s performance presents a mixed picture. While cash bank on hand decreased by a significant 77% to £76,000, indicating a potential need for improved cash flow management, creditors have increased dramatically by 130% to £520,000. This could be due to increased purchasing of inventory to meet demand, but it also raises concerns about the company’s ability to manage its short-term liabilities. Accumulated amortisation has increased by 110%, and depreciation has also increased, which is not necessarily a bad thing, but it does indicate that the company is investing in its assets. Average number of employees has increased by 29%, which could mean that the company is expanding its operations. The company’s net assets have decreased by 72% to -£250,000, a substantial decline, and the company is reporting a loss.

The company’s small size—meeting two of three criteria for turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees—means it likely benefits from greater flexibility and lower overhead costs. However, the sharp decline in equity suggests that the company is facing financial pressures. The absence of an auditor, due to its small size, means that the financial statements are unaudited.

In conclusion, Rhodes Music Group Ltd appears to be a small, active player in the musical instrument supply chain, facing challenges in managing its financial health.

Registered in England/Wales under the registration number 12015661, with a registered address at BN27 1DW, United Kingdom, Hailsham, East Sussex, 30-34 North Street.

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