Company Number: 12935535

Analysis Date: 2025-07-29 15:42 UTC

1. Credit Opinion: APPROVE
   AHOY ASSOCIATES LTD demonstrates solid financial growth and stability since its incorporation in 2020. The company maintains positive net assets with consistent increases year-over-year, indicating good capital accumulation and prudent financial management. The balance sheet shows manageable liabilities relative to assets, and current liabilities are covered by current assets, reflecting adequate short-term liquidity. There is no indication of financial distress or overdue filings. Given its micro-entity status and stable operational footprint in the advertising sector, the company appears capable of servicing debt obligations.

2. Financial Strength:
   The company’s net assets increased from £17,897 in 2020 to £161,175 in 2024, signaling a strong equity base. Fixed assets have grown significantly, from £36,286 to £219,248, indicating investment in long-term productive capacity. Current assets exceed current liabilities each year, with net current assets at £13,526 in 2024. Long-term creditors have increased to £71,599 but remain well covered by the total assets less current liabilities of £232,774. Shareholders’ funds align with net assets, reinforcing the company’s sound capitalization.

3. Cash Flow Assessment:
   Current assets of £39,073 against current liabilities of £25,547 provide a positive net working capital position, supporting day-to-day operational liquidity. The slight reduction in net current assets compared to the prior year (from £18,608 to £13,526) warrants monitoring, but overall liquidity remains sufficient for short-term obligations. The company maintains a modest headcount of 3 employees, implying controlled overhead costs. No indication of overdue trade payables or filing delays reduces risk of operational disruption.

4. Monitoring Points:

• Monitor trends in current liabilities and net working capital to ensure liquidity remains adequate, especially given the increase in creditors falling due after more than one year.
• Review any changes in fixed assets and related financing to assess impact on cash flows and leverage.
• Track revenue and profitability metrics (not provided here) to confirm ongoing ability to service debt and sustain growth.
• Maintain oversight of director conduct and compliance with filing deadlines, though currently no concerns appear.