Company Number: 12775629

Analysis Date: 2025-07-29 14:35 UTC

1. Credit Opinion: DECLINE
   Byworth Gundogs & Terriers Ltd presents a weak credit profile with persistent negative net current assets and shareholders' funds deteriorating from -£5,340 in 2021 to -£34,723 in 2024. The company’s liabilities significantly exceed its current assets, raising high concerns about its ability to meet short-term obligations. The absence of employees and minimal current assets (£55 in 2024) further indicate limited operational activity or cash flow generation. Without signs of financial improvement or external support, extending credit would pose a high risk.

2. Financial Strength:
   The balance sheet shows a consistent decline in net asset value over four years, from positive £21,443 at incorporation in 2020 to a negative £34,723 in 2024. Fixed assets remain relatively stable (~£40k), but current liabilities have grown substantially to over £75k, with negligible current assets to offset them. This capital erosion and increasing reliance on short-term creditors signal a fragile financial position lacking reserves or equity buffer.

3. Cash Flow Assessment:
   Current liabilities exceed current assets by £75,267 in 2024, indicating a severe working capital deficiency and poor liquidity. The company’s minimal cash or equivalents and lack of employees suggest limited cash inflows. The inability to cover immediate debts with liquid assets implies reliance on external funding or delayed payments, both unsustainable without a clear recovery plan.

4. Monitoring Points:

• Changes in net current assets and liquidity ratios
• Any new equity injections or debt restructuring
• Operational cash flow trends if disclosed in future accounts
• Director or management actions addressing solvency issues
• Filing of accounts and confirmation statements to ensure compliance