Company Number: 12816329

Analysis Date: 2025-07-20 11:34 UTC

1. Risk Rating: HIGH
   Benjamin Wilkes Limited shows significant solvency and liquidity concerns, with persistent negative net current assets and very low net assets. The company's balance sheet reflects ongoing working capital deficits and minimal cash reserves, indicating difficulty in meeting short-term obligations.

2. Key Concerns:

• Negative Working Capital: Net current liabilities of £4,188 at 31 August 2024, consistent with prior years, suggest chronic short-term liquidity problems.
• Minimal Cash Holdings: Cash decreased sharply from over £32k in 2023 to under £1k in 2024, raising concerns about immediate cash flow and operational funding.
• Low Net Assets and Equity: Shareholders’ funds are only £265, down from £4,113 at incorporation, indicating erosion of capital and weak financial stability.

3. Positive Indicators:

• Active Trading Status with No Overdue Filings: The company is compliant with statutory filing obligations, with accounts and confirmation statements up to date.
• Registered Directors and PSCs in Place: Clear governance structure with two directors and persons with significant control identified, both British nationals residing at the registered office address.
• Industry Focus: The company operates within architectural activities (SIC 71111), a professional service sector that can have stable demand if managed effectively.

4. Due Diligence Notes:

• Investigate the nature and collectability of the large increase in trade debtors (£20,040 in 2024 vs. zero the previous year) and whether this represents overdue or disputed invoices.
• Review the composition of current liabilities, particularly the substantial taxation and social security creditors (£35,854), which may indicate unpaid taxes or accrual issues.
• Assess the company's cash flow statements and business model viability to understand how it plans to address liquidity shortfalls and sustain operations given declining cash reserves.
• Evaluate the impact of provisions for liabilities (£1,605) on future financial obligations and any contingent liabilities not fully disclosed.