Utopia Crafts Ltd

Utopia Crafts Ltd, based in Exeter, UK, is a small, active company founded three years ago. With a single employee and £1,002,243 in assets, it operates from a virtual address – a detail flagged by the registration of 692 other companies at the same location. The business is led by a solo founder and director, Ocak Erol, and runs an e-commerce site. It’s a regular importer of textile padding, felt, and nonwoven fabrics, special yarns, and ropes and cables, with 19 months of import activity recorded, the last in February 2025. It also engages in irregular exporting of man-made staple fibers, with just one month of export activity, also in February 2025.

The company’s website, Utopia Crafts, features a clean, user-friendly design focused on selling toys, certificates, and other products. While a "Wishlist" and "Shopping Cart" are prominently displayed, a "We didn't find any matches" message appears when searching for products, suggesting a limited or inactive inventory. The site also includes contact information, including an email address and a physical address on Marsh Barton Trading Estate. The site also highlights a commitment to customer service and offers various payment methods, including PayPal and Apple Pay.

Financially, Utopia Crafts Ltd exhibits a mixed picture. Current assets have surged by a significant 150% to £1,000,000, while net assets have dramatically increased by 420% to £37,000. Creditors have also increased by 130% to £970,000, and bank borrowings have dropped to zero, a positive sign. However, the sharp increase in creditors, coupled with a 29% decrease in other creditors, suggests the company may be relying more on credit from suppliers. 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 large increase in liabilities warrants further observation. As a small company, it is exempt from an audit, so the figures are unaudited.

Overall, Utopia Crafts Ltd appears to be growing rapidly, but the increase in liabilities suggests it may be burning through cash to fuel that growth. The company’s future hinges on its ability to manage its finances effectively and convert its sales into sustainable profits.

Registered in England/Wales under the registration number 13386738, with a registered address at EX1 1PL, England, Exeter, 14 & 15 Southernhay West.

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