THE LOUNGE CO. (FURNITURE) LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Barnes Roffe Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After making appropriate enquiries, the directors have, at the time of approving the financial statements, formed a judgement that there is a reasonable expectation that the Company and Group has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.”

Significant events

• “Sales for the company continued to fall as the company continued with the strategy to move away from B2C selling. The company continued to sell its products online and in the London store but expanded its distribution with key retailers. As a result of this the margin was lower than the previous year but significant savings were made to overheads leading to an improvement in profitability. The company will continue its transition to a multi-channel brand over the next twelve months.”
• “Restructuring costs relate to redundancy and pay in lieu of notice of administrations and management employees following a company restructuring programme.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -41.8%

  £5,349,770 → £3,112,827

• Cash

  -7.5%

  £294,005 → £271,919

• Net assets

  -5.5%

  -£10,151,630 → -£10,706,578

• Employees

  -41.2%

  17 → 10

• Operating profit

  +35.2%

  -£1,133,051 → -£733,873

• Profit before tax

  +35.2%

  -£1,133,051 → -£733,873

• Wages

  -47.4%

  £572,791 → £301,358

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers