Furniture retailer Cult has reported a decrease in turnover as losses widened.

According to its latest filed accounts for the year ended 31 December 2023, total sales fell to £12.8m over an extended 15-month period compared to £13.7m in 2022.

UK sales rose to £12.6m from £11.8m, while EU sales fell to £342,000 from £1.8m.

Pre-tax losses resulted at £260,000, widening from its loss of £13,000 recorded the previous year.

Stated within its report, the company said: “Turnover has dropped comparing to previous year. This was mainly due to difficult market conditions.

“The performance of the company was in line with expectations. The company continued to pursue its strategy to build a larger customer base and focus on UK customers.”