Company Number: 15203062

Analysis Date: 2025-07-29 19:12 UTC

1. Credit Opinion: DECLINE
   BUILT BY CORNERSTONE DEVELOPMENT LTD is a newly incorporated micro private limited company with extremely limited financial data—only £1 in net assets and current assets as at the last financial year end (31 October 2024). The absence of any material assets, profitability, or meaningful financial history, combined with its very recent incorporation (October 2023), presents a high credit risk. There is no evidence of operating cash flow or working capital to support debt servicing or commercial obligations. Without trading history or financial track record, the company does not currently demonstrate the capacity to repay credit facilities.

2. Financial Strength:
   The balance sheet shows nominal value assets and net assets of just £1, indicating no substantive capital or reserves. The company qualifies as a micro entity and has filed micro-entity accounts under FRS 105, with no profit and loss account submitted. The financial statements suggest the company is at a start-up stage with no operational scale or asset base. Shareholders’ funds equal net assets of £1, highlighting negligible equity backing. This weak financial foundation offers no cushion against adverse conditions.

3. Cash Flow Assessment:
   Current assets of £1 and net current assets of £1 indicate effectively no liquidity or working capital. There is no disclosed cash or debtor balance, and no evidence of any revenue or operating cash inflows. The company’s ability to meet short-term obligations or generate positive cash flow is unproven. This lack of liquidity severely limits its ability to service debt or fund business operations without external capital injection.

4. Monitoring Points:

• Trading performance and revenue generation in coming periods
• Development of positive cash flow and working capital improvements
• Changes in net assets and shareholder funds reflecting capital contributions or retained earnings
• Timely filing of full accounts including profit and loss statements to gain insight into profitability
• Stability and conduct of director Joshua Bailey, who holds full control, given concentration risk