Third Side Limited

Third Side Ltd from Bournemouth UK is a small, active company founded twelve years ago. While the business has a real address and employs three people, it’s currently facing some challenges, with accounts and confirmation statements overdue for a year. The company holds £26,880 in assets and is run by one director and two owners, operating as a family business.

The Independent Music Insider website reveals Third Side Ltd’s core business: supporting the independent music industry. The site functions as a news and information hub, covering topics like vinyl sales, music technology, and artist development. It features press releases from member companies, articles on industry trends, and a member blog offering insights into the music business. The website doesn’s appear to be an e-commerce site, but rather a platform for networking and information sharing within the music sector. It seems to be more about connecting people and disseminating information than selling products directly.

Financially, Third Side Ltd’s recent performance shows some concerning trends. Accumulated depreciation has increased, and cash bank on hand has decreased significantly, falling by 85%. Bank overdrafts have also decreased, which could be a positive sign, but net assets have plummeted by 210%, resulting in a substantial net liability. Creditors have decreased slightly, which is good, but the overall picture suggests the company is burning through cash. The company’s small size (meeting two of three criteria for a small company) allows for agility, but the sharp decline in equity raises questions about its long-term sustainability. With no auditor mentioned, the figures are unaudited.

It appears Third Side Ltd is facing financial headwinds, despite its role as a vital information resource for the independent music industry. Whether it can navigate these challenges and continue to support its members remains to be seen.

Registered in England/Wales under the registration number 08124056, with a registered address at BH9 2PY, England, Bournemouth, 31 Norton Road.

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