Soyoo Ltd

Soyoo Ltd is a small, active company based in Hampton, UK, founded five years ago in September 2019. The company, with £2,547 in assets, operates an e-commerce site and is led by one director and owner, Han Min Ji. It’s a real address with six other companies registered there, suggesting a legitimate business. Soyoo Ltd focuses on retail sales via mail order and the internet, offering Korean lifestyle products like necklaces, earrings, and phone accessories. Previously known as C-tech Corp. Uk Ltd., it’s a small operation meeting two of three criteria: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees.

The company's website, soyoo.co.uk, showcases a wide range of Korean fashion and lifestyle products, offering discounts and free UK delivery over £50. The site is well-designed, with clear product categories, high-quality images, and a user-friendly shopping cart. It emphasizes "The Home of Korean Lifestyle," targeting customers seeking trendy and affordable accessories. The website also has a payment methods section with a variety of options.

Financially, Soyoo Ltd's recent accounts reveal a concerning trend. Cash bank on hand has plummeted by 59%, dropping to £2,500, while current assets have also decreased significantly. Liabilities have increased, with creditors rising 71% to £20,000, and loans from directors surging 91% to £20,000. Equity has also taken a hit, declining 260% to -£15,000. The company’s small size and lack of employees (zero reported) means it’s likely run with minimal overhead, but the sharp decline in equity and cash reserves suggests it's burning through money. Trade debtors are low, at only £25, which is good. The accounts are unaudited and exempt from audit, relying on director-reported data.

Overall, Soyoo Ltd appears to be a small e-commerce business facing financial challenges. While its website and product selection are appealing, the declining financial metrics raise questions about its long-term sustainability. It's clear the company needs to address its cash flow situation to avoid further losses.

Registered in England/Wales under the registration number 12217048, with a registered address at TW12 2BT, England, Hampton, Greater London, 69 Station Road.

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