SKYLER CONTRACTING LIMITED

Accounts Analysis

The following analysis is opinion only and should not be interpreted as financial advice.

The analysis is based on the following accounts:

Annual Accounts dated 31 December 2022
Upon analyzing the provided company accounts for Skyler Contracting Limited, we can draw the following conclusions about the company:

1. Financial Health: Based on the balance sheet, the company's total assets less current liabilities have increased from £753,393 in 2021 to £1,642,459 in 2022. This indicates significant growth in the company's financial position. The net assets of the company have also increased from £711,694 in 2021 to £1,421,153 in 2022. These figures suggest that the company is financially healthy and has experienced positive financial growth.

2. Solvency: The company's solvency can be analyzed by looking at the ratio of total assets to total liabilities. In this case, the net current assets of the company have increased from £718,136 in 2021 to £1,588,231 in 2022. This demonstrates that the company has sufficient current assets to cover its short-term liabilities. Additionally, the company's long-term liabilities have decreased from £35,000 in 2021 to £25,000 in 2022. These figures indicate that the company is solvent and has the ability to meet its long-term financial obligations.

3. Fixed Assets: The company's tangible fixed assets have increased from £35,257 in 2021 to £54,228 in 2022. This suggests that the company has invested in acquiring and improving its tangible assets, such as land, buildings, plant, and machinery. This increase in fixed assets is a positive sign as it indicates potential growth and expansion in the company's operations.

4. Current Assets: The company's current assets, including stocks, debtors, and cash at bank and in hand, have improved from £3,354,595 in 2021 to £3,838,612 in 2022. This increase in current assets indicates improved liquidity and the ability to convert these assets into cash in the short term.

5. Creditors: The amounts falling due within one year have decreased from £2,636,459 in 2021 to £2,250,381 in 2022. This indicates that the company has been successful in managing its short-term obligations and reducing its outstanding liabilities.

6. Debtors: The company's debtors have decreased from £2,542,117 in 2021 to £2,132,030 in 2022. This decrease suggests that the company has been able to collect its outstanding payments from trade debtors and other debtors.

7. Overall Performance: The financial statements do not provide specific information regarding the company's revenue or profit and loss account. Therefore, we cannot make any conclusions about the profitability or overall performance of the company.

It's important to note that financial analysis should be conducted in conjunction with other information about the company, such as industry trends, market conditions, and management strategies, to form a comprehensive assessment of the company's financial position and performance.

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