Company Number: 13335237

Analysis Date: 2025-07-20 15:07 UTC

1. Risk Rating: LOW
   The company demonstrates a solid equity base with positive net current assets and increasing shareholders' funds over recent years. There are no overdue filings or indications of regulatory non-compliance. Financial data suggest the company maintains operational liquidity and solvency.

2. Key Concerns:

• Reliance on trade debtors: Trade debtors (£142,889) represent a significant portion of current assets and show limited reduction from previous year, warranting assessment of collection efficiency and credit risk.
• Director current accounts liability: The amount owed to directors increased substantially to £64,918, which may indicate reliance on director loans or deferred remuneration affecting liquidity.
• Limited disclosure: Absence of an income statement and detailed profit and loss data restricts full assessment of operational performance and profitability trends.

3. Positive Indicators:

• Positive and increasing net current assets (£131,946 in 2024 vs £146,791 in 2023) indicate good short-term liquidity.
• Growing shareholders’ funds (£191,145 in 2024 from £162,473 in 2023) reflect retained earnings accumulation and financial stability.
• Current filings and accounts are up to date with no overdue returns or filing penalties, indicating regulatory compliance.
• The company operates in a defined niche (wholesale food including fish), with an active website and clear contact details, supporting operational transparency.
• Tangible fixed assets have been increased, suggesting investment in operational capacity.

4. Due Diligence Notes:

• Review the credit control policy and aging analysis for trade debtors to assess collection risk and potential bad debts.
• Investigate the nature and terms of director loans or accounts payable to directors to understand liquidity impact and repayment capacity.
• Request or review management accounts or unaudited profit and loss accounts to assess profitability, margins, and cash flow trends.
• Confirm the company’s working capital cycle and supplier payment terms to identify any liquidity pressure points.
• Assess any contingent liabilities or off-balance sheet commitments not disclosed in the filings.
• Verify the completeness and accuracy of fixed asset register and depreciation policies given the recent asset additions.