Salincak Ltd

Salincak Ltd, based in Hull, UK, is a small, active company founded just one year ago. With six employees and £7,587 in assets, it’s a solo-founder operation managed by a single director and owner, Erdogan Ararat. The company operates in the licensed restaurants industries. It’s a real address, and it’s a irregular importer, with its top import category being Furniture, Lighting, and Prefabricated Buildings, totaling 2 months of imports. The last import operation was conducted on August 01, 2023.

The company’s website, salincakcim.com, showcases a range of rattan furniture and outdoor living solutions. It’s clearly an e-commerce business, selling items like rattan sofas, tables, and chairs, with a focus on stylish designs and competitive pricing. The site is entirely in Turkish, suggesting a target market within that community. There’s also a section dedicated to “Salincak” (hammocks), indicating a specialization in relaxation and outdoor leisure.

Financially, Salincak Ltd presents a mixed picture. Current assets are a modest £7,600, while net assets are just £7,100. Bank borrowings are a concerning £37,000, and cash reserves are a low £1,300. Creditors increased by 24% to £45,000. The company meets two of the three criteria to be considered small (turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees). With no auditor mentioned, the figures are unaudited.

The company’s reliance on imports, particularly in a fluctuating global market, could be a vulnerability. The high level of debt, combined with limited cash reserves, suggests a need for careful financial management. The Turkish-language website, while potentially a strength in reaching a specific customer base, could also limit its reach to a wider audience. It’s a small business with potential, but it needs to navigate these challenges to thrive.

Registered in England/Wales under the registration number 14996311, with a registered address at HU1 1JF, United Kingdom, Hull, Unit 2 King Albert Chambers, 61-69 James Street.

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