Socks Master Ltd

Socks Master Ltd is a small, active company based in Brighton, UK, founded three years ago in June 2021. It's a solo-founder operation with one director and owner, Ozcelik Mustafa Ozkan, and holds just £1,018 in assets. The company operates in the retail sale of textiles in specialised stores and is an irregular importer, with its last import activity recorded one month ago in December 2021, focusing on various textile products, sets, used clothing, and rags. It’s also linked to a Dhaka-based manufacturing company, Socks Master industries Limited, which has been in operation since 2010, specializing in sock production and exporting globally.

The Dhaka-based website details a full range of sock manufacturing services, including custom designs, various needle types, and even self-play system integrations for pianos – a surprising diversification. It boasts a team of experienced professionals and has worked with world-leading brands, suggesting a more established operation than its UK counterpart. The site emphasizes customer service and offers a range of contact methods, including a phone number and email address.

Financially, Socks Master Ltd presents a concerning picture. Current assets have fallen by 18%, reaching £1,000, while net assets have plummeted 16% to -£5,400. Bank borrowings remain at £1,200, but cash reserves have dropped 24% to just £940. Creditors have increased, both within the year and overall, suggesting potential cash flow issues. The company’s small size (meeting two of three conditions for a small company) helps it remain agile, but the negative equity and declining cash reserves are worrying. There's no auditor mentioned, so the figures are unaudited.

In conclusion, Socks Master Ltd appears to be struggling financially, despite its connection to a more established manufacturing operation in Dhaka. Whether the UK arm can sustain itself, or if it’s primarily a sales and marketing front for the larger manufacturing company, remains to be seen.

Registered in England/Wales under the registration number 13445625, with a registered address at BN1 2LB, England, Brighton, 90 Basement Floor Western Road.

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