The Hastings Sofa Company Limited

The Hastings Sofa Company Limited, based in St Leonards-On-Sea, UK, is a small, holding company with an active status. Founded six years ago in 2018, it employs 36 people and holds assets of £612,944. The company has three directors and one owner, and boasts a solid Google rating of 4.0 based on 21 reviews. It operates from a real address, with only one other company registered at the same location.

The Hastings Sofa Company is a regular importer, bringing in various natural fibers, paper yarn, and fabrics made from paper yarn for the last four months. It also exports furniture, lighting, and prefabricated buildings, with three months of export activity recorded. The company’s core business involves the manufacture of other furniture and the retail of furniture, lighting, and similar items, operating in specialised stores.

Financially, the company shows some concerning trends. While turnover remains undisclosed, net assets have plummeted by a staggering 480%, dropping to -£62,000. Cash reserves have also taken a hit, falling 87% to just £18,000. Bank borrowings have increased, with overdrafts up 5.5% to £11,000, and non-financial instruments rising by 32%. Creditors have increased by 9.1% to £650,000. On a brighter note, trade debtors have risen by 6.6% to £420,000. The company’s small size (meeting two of three conditions for being classified as small) helps with agility, but the significant equity decline warrants attention. As a small company, it’s exempt from an audit, so the financial statements are unaudited.

The company’s financial situation suggests it’s burning through cash, although it’s difficult to say for sure without more details. The increase in bank borrowings could be a sign of financial strain, but it could also be a strategic move to fund growth. The lack of information about turnover makes it hard to assess the company’s overall performance.

Registered in England/Wales under the registration number 11706027, with a registered address at TN38 9XF, United Kingdom, St Leonards-On-Sea, The Hastings Sofa Company Limited, Menzies Road.

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