Company Number: 13736980

Analysis Date: 2025-07-29 12:34 UTC

1. Credit Opinion:
   DECLINE. Crispy’s Chicken Ltd. exhibits significant financial distress with negative net assets and working capital as of the last financial year. The company’s liabilities substantially exceed its current assets, indicating an inability to meet short-term obligations. Despite being active and having no overdue filings, the worsening financial position and negative equity undermine confidence in its capacity to service debt or credit facilities without additional support or restructuring.

2. Financial Strength:
   The company’s balance sheet shows a net liability position of £4,429 as of 30 November 2023, a marked deterioration from net assets of £1,836 in the prior year. Current liabilities have nearly tripled from £2,080 to £5,853, while current assets have only marginally increased from £244 to £449. Fixed assets remain negligible at £975. This indicates worsening solvency and a fragile financial foundation. The negative shareholders’ funds reflect accumulated losses and insufficient capital injection.

3. Cash Flow Assessment:
   Net current liabilities of £5,404 signal a severe working capital deficiency, implying potential cash flow difficulties in meeting short-term debts and operational expenses. The small increase in current assets does not keep pace with liabilities, suggesting liquidity constraints. No profit and loss figures are provided, but the trend from positive net current assets to significant negative working capital suggests declining cash generation or increased creditor reliance.

4. Monitoring Points:

• Monitor subsequent financial statements for improvement in liquidity and net assets.
• Watch for any director or shareholder capital injections or debt restructuring efforts.
• Track operational cash flow and profitability metrics when available.
• Observe any changes in management or strategy aimed at financial turnaround.
• Monitor any overdue filings or regulatory actions indicating further distress.