Independent online furniture business Hutch Interiors has reported a decline in sales, while also widening its losses.
According to its latest filed accounts for the year ended 30 September 2015, total sales fell by 36.5% to £40,289 from £63,000 achieved in 2014.
Gross profit also experienced a slight fall by 10% to £27,294 from £30,028 last year. However, despite the negative performance, Hutch reported a reduced operating and overall loss for the year at £7,852, significantly down from its loss of £20,595 in 2014.
Although the full year loss showed a slight improvement, the company widened its retained losses from the previous year by 15.6%, from £43,773 to a loss of £51,625.
Headquartered in London, Hutch Interiors – founded by Georgia Hendey in 2012, was provided with an interest free loan from Hendey during the year under review, with the balance as at the time of the filed accounts at £58,252.