Fulham Furniture Manufacturer--UK
Company Summary
Fulham Furniture Mfr. is a Limited Company specialty manufacturer of high-end office furniture for computer users who care about elegant office space. Our customers are in all levels of business that can afford very high quality office furniture, plus a growing portion of high-end home offices.
2.1 Company Ownership
Fulham Furniture Mfr. is a London, England Limited Company, owned entirely by James and Susan Graham. It was created in 1992. At that time the product line and industrial property rights (including trade marks) were purchased from the heirs to the Fulham Association, which was a furniture company in South West London that had been mismanaged by the heirs of the original founders. Fulham Association was more then happy to sell the business at a very attractive price to James and Susan Graham.
2.2 Company History
Fulham Furniture Mfr. had actually existed since the 1970s as a traditional furniture manufacturer, but its present existence began in 1992 when the furniture line was purchased by James and Susan Graham. The Grahams moved to London from Scotland and purchased the business as part of the move.
Sales took a big jump in 1997, when we reached more effective channels of distribution. The key was winning a place in the Premier Executive office furniture catalogue, which led to winning the interest of the XXX furniture distributors, and display space in several hundred stores.
Profitability and working capital were problems during our recent growth, but we believe we now have costs and cash flow under control.
| Past Performance | |||
| 2003 | 2004 | 2005 | |
| Sales | £127,809 | £130,568 | £225,790 |
| Gross Margin | £58,381 | £72,374 | £105,245 |
| Gross Margin % | 45.68% | 55.43% | 46.61% |
| Operating Expenses | £54,602 | £69,801 | £90,125 |
| Collection Period (days) | 0 | 0 | 36 |
| Inventory Turnover | 4.00 | 4.70 | 6.00 |
| Balance Sheet | |||
| 2003 | 2004 | 2005 | |
| Current Assets | |||
| Cash | £0 | £0 | £1,438 |
| Accounts Receivable | £0 | £0 | £27,605 |
| Inventory | £0 | £0 | £10,141 |
| Other Current Assets | £0 | £0 | £2,375 |
| Total Current Assets | £0 | £0 | £41,559 |
| Long-term Assets | |||
| Long-term Assets | £0 | £0 | £3,210 |
| Accumulated Depreciation | £0 | £0 | £1,720 |
| Total Long-term Assets | £0 | £0 | £1,490 |
| Total Assets | £0 | £0 | £43,049 |
| Current Liabilities | |||
| Accounts Payable | £0 | £0 | £11,191 |
| Current Borrowing | £0 | £0 | £0 |
| Other Current Liabilities (interest free) | £0 | £0 | £1,803 |
| Total Current Liabilities | £0 | £0 | £12,994 |
| Long-term Liabilities | £0 | £0 | £0 |
| Total Liabilities | £0 | £0 | £12,994 |
| Paid-in Capital | £0 | £0 | £4,500 |
| Retained Earnings | £0 | £0 | £13,100 |
| Earnings | £0 | £0 | £12,455 |
| Total Capital | £0 | £0 | £30,055 |
| Total Capital and Liabilities | £0 | £0 | £43,049 |
| Other Inputs | |||
| Payment Days | 0 | 0 | 35 |
| Sales on Credit | £0 | £0 | £140,434 |
| Receivables Turnover | 0.00 | 0.00 | 5.09 |
2.3 Company Locations and Facilities
Fulham Furniture Mfr. is located in a single facility across the Thames from Fulham, in Putney where there is more industrial office space and manufacturing space for Fulham Furniture Mfr. The facility includes office and workshop space, access to the local bus route, and Tube stop, and good parking.
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