Sich Limited

Sich Casket Company Limited, based in London, UK, is a small, active company founded twelve years ago in 2012. Employing just two people, it holds £59,521 in assets and operates from a real address within a business centre. With one director and two owners, the company is a regular importer of furniture, lighting, and prefabricated buildings, with recent activity recorded in July 2024.

The company’s website paints a picture of a business specializing in caskets, targeting funeral professionals with a focus on quality and affordability. It sources materials globally and utilizes automated warehousing to streamline production and shipping. The website highlights a partnership with independent casket distributors across North America, emphasizing a commitment to providing top-quality products at competitive prices. The company’s origins trace back to China, where its founder, Sirius Chan, transformed his family’s furniture shop into a casket manufacturer.

Financially, Sich Limited presents a mixed picture. While current assets increased by 17% to £60,000, net assets plummeted 86% to a mere £3,100—a significant decrease. Bank borrowings have increased substantially, reaching £43,000, and cash reserves have fallen considerably. Creditors have also increased, though trade debtors have risen by 31%. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the substantial equity drop warrants attention. No auditor is mentioned, likely due to the company’s exemption as a small entity.

The sharp decline in equity, combined with increased borrowing, suggests that Sich Limited is burning through cash. While the company’s website and focus on quality are promising, the financials indicate a need for careful management and potentially a re-evaluation of its business model.

Registered in England/Wales under the registration number 08132631, with a registered address at W4 5PY, England, London, Unit G34, The Light Box, 111 Power Road.

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