Rich Tone Music Ltd

Rich Tone Music Ltd, based in Sheffield, UK, is a small, active company celebrating 20 years in business. Employing 19 people and holding assets of £1,906,943, it’s a well-established retailer of musical instruments and parts. The company operates a thriving e-commerce site and boasts a stellar 5.0 Google rating from 965 reviews, a testament to its customer service. With five directors and a single owner, the business is managed by a dedicated team. It regularly imports and exports musical instruments and parts, with 59 months of import activity and 11 months of export activity recorded.

The company’s website showcases a vast selection of instruments and accessories, catering to musicians of all levels. From guitars and amplifiers to drums and orchestral strings, Rich Tone Music offers a comprehensive range of products. The site is well-organized, with clear categories and detailed product descriptions. It also features a blog with helpful articles and tutorials, demonstrating the company’s commitment to supporting its customers. The website also highlights a second-hand section, offering a wide range of instruments at various price points.

Financially, Rich Tone Music Ltd presents a mixed picture. Creditors increased by a substantial 18%, reaching £1,100,000, while net assets decreased by 15%, settling at £350,000. Bank borrowings also rose, increasing by 100%, to £100,000. Cash reserves fell by 55%, dropping to £150,000. Despite these challenges, trade debtors decreased by 36%, suggesting improved collection of payments. The company meets the criteria for a small company, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The absence of an auditor, likely due to its small size, means the figures are unaudited.

The company’s consistent import and export activity, combined with its strong online presence and positive customer reviews, indicate a resilient business. However, the decline in cash reserves and increase in liabilities warrant close monitoring. The company’s ability to maintain its strong customer base and navigate the evolving music retail landscape will be key to its future success.

Registered in England/Wales under the registration number 05285423, with a registered address at S8 0XL, Sheffield, South Yorkshire, 64-82 Broadfield Road.

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