Concept Rugs Ltd

Concept Rugs Ltd, based in Barnstaple, UK, is a small, active company founded six years ago in 2018. With just one employee and £85,763 in assets, it's a lean operation run by a single director and two owners. While registered at a real address, accounts and confirmation statements are overdue for three years, a potential red flag. The company regularly imports goods, though the top import category is listed as "None," with just four months of import activity recorded.

Concept Rugs Ltd specializes in the manufacture of household textiles and the wholesale of textiles industries. Its website showcases a focus on bespoke, hand-tufted carpets and rugs, catering to high-end clients like superyachts, private jets, and luxury hotels. The company emphasizes its family heritage, dating back five generations, and offers a wide range of materials, including silk, cotton, and cashmere. The website also features a design blog and Instagram feed, highlighting its artistry and craftsmanship.

Financially, Concept Rugs Ltd presents a mixed picture. Current assets remained steady at £86,000, while net assets were negative at -£37,000. Bank borrowings increased to £44,000, and cash reserves were a modest £2,000. Creditors remained at £140,000, and trade debtors were £41,000. 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 flexibility, but the negative equity suggests a need for careful financial management. No auditor is mentioned, likely due to the company's small size and exemption from an audit.

Overall, Concept Rugs Ltd appears to be navigating a challenging financial landscape, relying on its bespoke design services and high-end clientele to sustain its operations. The company's heritage and commitment to craftsmanship are strong assets, but addressing its negative equity will be crucial for long-term viability.

Registered in England/Wales under the registration number 11640089, with a registered address at CF14 8LH, Cardiff, 11640089 - COMPANIES HOUSE DEFAULT ADDRESS.

WARNING: The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.
Ports, countries, transport, and price/kg were calculated by CorpSignals; non-official data, may contain errors.