Company Number: 12806368

Analysis Date: 2025-07-29 20:06 UTC

1. Credit Opinion: DECLINE
   Barts Deli Ltd presents significant credit risk due to persistent and increasing negative net assets and net liabilities over the last four financial years. The company’s current liabilities, including substantial long-term creditors, far exceed its current assets, indicating a poor ability to meet short-term obligations. The absence of employees and minimal current assets (£62 in 2024) further limit operational liquidity. Without evidence of improving financial performance or forthcoming capital injection, extending credit would carry a high risk of default.

2. Financial Strength
   The company is classified as a micro-entity but shows a deteriorating balance sheet. Net liabilities have worsened from approximately £13.6k in 2021 to £15.4k in 2024, signaling ongoing losses or capital erosion. The increase in creditors falling after more than one year from £2,200 in 2023 to £15,023 in 2024 suggests reliance on debt financing possibly on unfavorable terms. Shareholders’ funds remain negative, indicating no equity buffer to absorb shocks.

3. Cash Flow Assessment
   Current assets have drastically declined from £3,551 in 2021 to just £62 in 2024, while current liabilities remain high (~£15k), resulting in negative net working capital. This weak liquidity position raises concerns about the firm’s ability to service short-term debt and cover operational expenses without external financial support. The lack of employees implies minimal operational scale, which may also constrain cash inflows.

4. Monitoring Points

• Track changes in current assets and liabilities to assess liquidity improvements.
• Monitor creditor structure and any debt refinancing or repayment plans.
• Watch for any capital contributions or equity injections from the principal shareholder, Mr. Mikki Bartell.
• Evaluate any strategic changes or operational developments that might impact cash generation.
• Keep an eye on filing compliance and any indications of financial distress or restructuring.