CUBEITZ GROUP LIMITED
Company number 11246872 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Credit Analysis: CUBEITZ GROUP LIMITED (11246872)
1. Credit Opinion: DECLINE
This application must be declined. The company is subject to a proposal to strike off at Companies House, meaning it is in the process of being dissolved. Additionally, the company is deeply insolvent with net liabilities of £686,681 and virtually no assets. It is classified as dormant with no trading activity, zero employees, and no capacity to service any debt facility. Extending credit to this entity would represent an unacceptable risk with no prospect of recovery.
2. Financial Strength: CRITICAL WEAKNESS
The balance sheet reveals a severely distressed position:
| Metric | 2024 | 2023 | 2021 |
|---|---|---|---|
| Current Assets | £13 | £153 | £2,521,411* |
| Net Current Liabilities | (£654,190) | (£653,666) | N/A |
| Net Liabilities | (£686,681) | (£686,157) | £1,175,409* |
*2021 figures show total assets; net assets were positive at £1.17M
Key observations: - The company is technically insolvent with liabilities exceeding assets by nearly £700k - Current assets of just £13 against current liabilities of £654,203 yields a current ratio of approximately 0.00002 — effectively zero liquidity - There has been a catastrophic deterioration between 2021 and 2022, with total assets collapsing from £2.5M to negligible levels. This suggests either significant asset disposals, write-offs, or a transfer of business to another entity - The liability position has remained stubbornly static year-on-year, indicating no active debt reduction
The share capital of £200,000 is wholly eroded by accumulated losses.
3. Cash Flow Assessment: NO OPERATING CASH FLOWS
- SIC Code 99999 (Dormant Company) confirms no trading activity
- Zero employees in both 2023 and 2024
- No revenue generation capacity
- Cash position in recent years is not disclosed separately (micro-entity filing), but current assets of £13 suggest de minimis cash holdings
The company has no operating cash flows, no working capital cycle, and no means of generating income to service any debt obligation. The creditor balance of £654,203 falling due within one year represents a material unresolved liability with no apparent source of repayment.
4. Monitoring Points
| Risk Indicator | Status | Severity |
|---|---|---|
| Proposal to Strike Off | Active | 🔴 Critical |
| Confirmation Statement Overdue | Yes | 🔴 Critical |
| Insolvency (Net Liabilities) | (£686,681) | 🔴 Critical |
| Dormant/Non-Trading | Confirmed | 🔴 Critical |
| Asset Deterioration (2021→2022) | Unexplained | 🟠 High |
| Related Party Transactions | Unknown | 🟡 Medium |
Critical actions: 1. Do not advance any credit facility — the strike-off proposal alone is an absolute bar 2. If this company appears as a guarantor or counterparty in another facility, flag immediately for review 3. The unexplained collapse in assets between 2021 and 2022 warrants scrutiny — consider whether connected party transactions or asset transfers have occurred that may prejudice creditors 4. The registered address is care of an accountancy firm (N R Sharland & Co), with the secretary being Nigel Sharland — this is typical of companies with no independent trading presence
Director note: Sean Kearney (PSC with >75% shareholding) signed the 2024 accounts. No disqualification records were flagged, though the governance oversight of allowing confirmation statements to become overdue while the company is proposed for strike-off raises stewardship concerns.