The Number One Bead Shop Ltd

The Number One Bead Shop Ltd from Paisley UK: a small, active company founded five years ago, employs five people, and holds £56,305 in assets. It boasts a stellar 5.0 Google rating from 170 reviews and is led by one director and owner, Myler Stuart. The company regularly imports jewelry, precious stones, and metals, with recent activity recorded three months ago.

The business operates from a real address in Paisley, Scotland, and its website showcases a vast selection of beads, findings, and craft supplies. It’s clearly an e-commerce focused operation, with a physical shop open four days a week, offering workshops and even hall hire. The site emphasizes competitive pricing and a wide range of products, catering to both individual crafters and larger projects. The business also offers kits and gift vouchers, further expanding its appeal.

Financially, The Number One Bead Shop Ltd shows a mixed picture. Current assets increased by 60% to £56,000, while net assets decreased by 38% to -£10,000. Bank borrowings remained steady at £10,000, and cash reserves grew by 13% to £9,200. Creditors increased by 48% to £60,000, and trade debtors grew by 18% to £20,000. The company meets the criteria for a small business, with turnover less than £10.2 million, assets less than £5.1 million, and fewer than 10 employees. With no auditor mentioned, the figures are unaudited.

The company’s declining equity suggests it’s burning through money, despite increased assets. This could be due to increased inventory purchases to meet demand, or perhaps a need for investment in marketing or website improvements. While the strong Google rating indicates customer satisfaction, the financial figures raise questions about its long-term sustainability.

Registered in Scotland under the registration number SC640133, with a registered address at PA2 6LN, Scotland, Paisley, 20 Neilston Road.

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