Sofa2u Ltd

Sofa2u Ltd is a small, active company based in London, UK, founded five years ago in 2019. Employing just one person, the company holds £36,580 in assets and operates from a real address shared with Mirza Chartered Accountants. With one director and two owners, Sofa2u Ltd regularly imports furniture, lighting, and prefabricated buildings—eight months of import activity recorded, the last in December 2023.

The company’s website, Sofa2u, positions itself as a “local sofa specialist,” offering floor stock, custom-made sofas, and mattress bases. It highlights factory clearance prices, locally made sofas, and a wide variety of shapes and sizes. The site also mentions a repair and recovery service, and emphasizes warm customer service and quick response times. It’s clear that Sofa2u is focused on direct-to-consumer sales through its website and physical store in Henderson, Auckland.

Financially, Sofa2u Ltd shows a concerning trend. Current assets have plummeted by 47%, dropping to £37,000, while net assets have fallen dramatically by 95%, leaving just £760. Cash bank on hand has also decreased significantly by 31%, down to £15,000. Creditors have decreased by 32%, which is good, but trade debtors have fallen by a substantial 59%. The company’s small size (meeting two of three criteria for a small company) allows for agility, but the sharp decline in equity and cash reserves is a red flag. There’s no auditor mentioned, so the figures are unaudited.

Overall, Sofa2u Ltd is facing financial headwinds. While its website and local presence suggest a functional business, the reported numbers indicate a company burning through cash and struggling to maintain its financial footing. The decline in assets and equity suggests that the business may need to take steps to improve its financial health.

Registered in England/Wales under the registration number 12144604, with a registered address at SW17 0NB, United Kingdom, London, Mirza Chartered Accountants, 860-862 Garratt Lane.

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