Shimcup Ltd

Shimcup Ltd from Morecambe UK: small company, active status, founded 3 years ago, 1 employee, £2,223 assets, virtual address, 1 director, 1 owner, solo founder. Shimcup Ltd is a small, active company based in Morecambe, UK, established just three years ago. With a single employee and a modest £2,223 in assets, it operates from a virtual address shared by over 100 other companies – a bit unusual, really. The company is led by a solo founder and director, Houghton Edward, and has one reported owner.

The business focuses on retail sales via mail order and internet, alongside specialised design activities. Its website, while not providing extensive details, suggests a niche focus, likely catering to a specific design or product category. It’s a small operation, meeting two of the three conditions to be classified as such: turnover less than £10.2 million, balance sheet total less than £5.1 million, and fewer than 25 employees.

Financially, Shimcup Ltd’s report reveals a somewhat precarious situation. Current assets remain steady at £2,200, but net assets sit at a negative £30,000, indicating accumulated losses. Cash on hand is a modest £200, and creditors total £33,000. While bank borrowings are unchanged, the negative equity is concerning. The company’s unaudited financial statements, prepared by Waters & Atkinson, show a focus on historical cost accounting and adherence to FRS 102. The director has elected not to include a copy of the profit and loss account within the financial statements.

Despite the challenges, Shimcup Ltd's small size allows for agility. The company’s continued operation, despite the negative equity, suggests a focus on cost management and perhaps a reliance on owner investment. It's a bit of a gamble, but for now, Shimcup Ltd is holding on.

Registered in England/Wales under the registration number 13982893, with a registered address at LA4 5HR, United Kingdom, Morecambe, Lancashire, The Old Court House, Clark Street.

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