Socksmad Limited

Socksmad Limited, based in Loughborough, UK, is a small, active company founded ten years ago in 2014. With five employees and £1,570,622 in assets, it operates as a solo-founded e-commerce business boasting a perfect 5.0 Google rating from five reviews. The company regularly imports clothing and accessories made by knitting or crocheting, with six months of import activity recorded.

The company’s website, Socksmad, focuses on selling socks—mens, womens, kids, work, diabetic, walking, hiking, and sport—along with underwear and baby blankets. It emphasizes a wide selection, competitive pricing, and fast shipping. The site also features a blog offering tips and trends related to socks, suggesting a desire to build brand authority.

Financially, Socksmad Limited presents a mixed picture. Cash bank on hand decreased by 18% to £6,800, while creditors increased significantly by 100% to £150,000. Although current assets remained stable at £1,600,000, the increase in creditors suggests potential cash flow pressures. Net assets increased by 7.2% to £160,000, but the substantial rise in short-term creditors is something to keep an eye on. 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 increase in debt is something to consider. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

In short, Socksmad Limited appears to be growing, but managing its finances carefully will be key. The company's focus on socks and its online presence position it well in a competitive market, but the increase in debt warrants close monitoring.

Registered in England/Wales under the registration number 09213562, with a registered address at LE12 5BS, United Kingdom, Loughborough, Unit 14 Wymeswold Business Quarter Wymeswold Lane, Burton-On-The-Wolds.

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