Shyness Space Ltd.

Shyness Space Ltd from London UK: a small, active company founded eight years ago, is facing some financial challenges. With five employees and £622,804 in assets, the company operates an e-commerce site specializing in retail clothing sales, both online and through mail order. It has a strong Google rating of 5.0 based on four reviews, and regularly imports and exports footwear and related items—41 months of importing and 24 months of exporting, respectively. The company has two directors and one owner, Hsu Hsuan Ni.

The website, currently marked as "Opening Soon," promises a new online store powered by Shopify. It invites visitors to enter their email address to be the first to know when the launch occurs. This suggests a potential shift in strategy or a redesign of their online presence, which is a good thing.

However, the financial data reveals a concerning trend. While current assets have increased by 18% to £620,000, the company’s equity has plummeted 33% to -£670,000. Cash bank on hand has also seen a dramatic decrease, dropping 87% to just £15,000. Creditors have increased by 12% to £270,000, and trade debtors have fallen by 73% to £11,000. The company’s net assets and liabilities are at -£470,000. It’s a small company, meeting two of three conditions for size—turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees—but the significant equity decline is a red flag. There’s no auditor mentioned, which is typical for small companies.

The company’s focus on footwear and related items, combined with the e-commerce platform, suggests a retail-oriented business. The drop in cash reserves and the negative equity could be attributed to increased inventory levels—total inventories rose by 59% to £600,000—as the company prepares for the website launch. However, the decrease in trade debtors is also a concern, potentially indicating payment difficulties with customers. The company’s financial situation seems to be a bit shaky, but the upcoming website launch could be a turning point if it attracts new customers and generates sufficient revenue.

Registered in England/Wales under the registration number 10715136, with a registered address at EC1V 9NQ, England, London, 346 Old Street.

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