The Practice Roomz Limited

The Practice Roomz Limited, based in Hitchin, UK, is a small, active company founded thirteen years ago in 2012. With £49,514 in assets and a virtual address shared by ninety-five other companies, it’s a solo-founded operation run by a single director and owner. The business operates in the sound recording and music publishing industries, holding a stellar 5.0 Google rating from sixty-one reviews. It's an irregular importer, bringing in electrical machinery and equipment for one month, with the last import occurring in July 2023.

The company’s website, The Practice Roomz, reveals a focus on recording studio services, particularly piano restoration and self-play system integration. It also offers disaster recovery for damaged pianos, suggesting a niche market catering to high-end instruments. While the branding is consistent, it’s unclear how closely the recording and piano restoration sides of the business are linked.

Financially, The Practice Roomz Limited shows a mixed picture. Current assets have fallen by a significant 31% to £50,000, and net assets have plummeted 100%, ending at a mere £5. Bank borrowings have decreased by 15%, and cash reserves have dropped a substantial 73% to £17,000. Trade debtors have increased dramatically by 630%, which could indicate a reliance on customer payments or an expansion of credit terms. 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 sharp decline in equity is concerning. With no auditor mentioned (likely exempt as a small company), the figures are based on unaudited statements.

In short, The Practice Roomz Limited is facing financial pressures, despite its strong Google rating and niche services. Whether the recording and piano restoration arms can sustain each other remains to be seen.

Registered in England/Wales under the registration number 08061177, with a registered address at SG5 1PN, England, Hitchin, 122 Whinbush Road.

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