ELAVATIONZ PLATFORM HIRE LIMITED
Company number 09034011 · 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.
Commercial Credit Assessment: ELAVATIONZ PLATFORM HIRE LIMITED
1. Credit Opinion: DECLINE
Recommendation: DECLINE — This application cannot be supported in its current form.
Primary Reasoning: The company has a live proposal to strike off at Companies House, indicating proceedings to dissolve the entity. Extending credit to a company undergoing dissolution creates unacceptable risk — the business may cease to exist before obligations are honoured, and recovery avenues become severely constrained.
Even setting aside the strike-off action, the financial trajectory is deteriorating, with net assets declining by approximately £6,900 (12.6%) in the latest year and current assets nearly halving.
2. Financial Strength
Balance sheet is thin and contracting:
| Metric | 2025 | 2024 | Change |
|---|---|---|---|
| Fixed Assets | £36,000 | £42,352 | -14.9% |
| Current Assets | £12,926 | £23,433 | -44.8% |
| Net Current Assets | £16,156 | £20,101 | -19.6% |
| Net Assets | £47,823 | £54,745 | -12.6% |
- Share capital of £1 only — the business has virtually no permanent equity cushion beyond accumulated profits
- Net assets have declined after consistent growth from 2016-2024, suggesting the business has turned a corner into contraction
- The fixed assets (likely platforms/hire equipment) are depreciating and not being replaced at the same rate
- Long-term creditors reduced from £7,708 to £4,333, indicating debt repayment rather than reinvestment
Asset quality concern: As a hire company, fixed assets are the revenue-generating core. A declining asset base suggests either disposal without replacement or insufficient capital expenditure to maintain fleet quality.
3. Cash Flow Assessment
Liquidity appears adequate on paper but is deteriorating rapidly:
- Current ratio: ~4.0x (£12,926 / £3,230) — superficially strong
- Working capital: £16,156 — reasonable for a micro-entity
- However, current assets have fallen 44.8% year-on-year — this is an alarming rate of depletion
Cash flow concerns: - The reduction in net assets by £6,922 with no dividend disclosure suggests the business generated a loss for the year - P&L reserve figures are not disclosed (micro-entity exemption), but the movement in shareholders' funds implies retained losses or drawings exceeding profits - Single employee (the director) means minimal payroll obligation, but also raises questions about whether director remuneration is being extracted ahead of creditors
Working capital trajectory is negative — if the current rate of current asset depletion continues, liquidity will become strained within 12-18 months.
4. Monitoring Points
If circumstances change and the strike-off proposal is withdrawn, the following would require ongoing scrutiny:
| Metric | Concern Level | Threshold |
|---|---|---|
| Strike-off status | Critical | Must be resolved before any engagement |
| Confirmation Statement filing | High | Currently overdue — compliance failure |
| Current assets trend | High | Watch for further decline below £10,000 |
| Net assets movement | Medium | Any further deterioration below £40,000 |
| Fixed asset replacement | Medium | Capital expenditure vs. depreciation |
| Director withdrawals/drawings | Medium | Monitor for asset stripping |
Additional red flags: - Registered address discrepancy: Company overview shows 1 Mornington Villas, BD8 7HB; filed accounts show 134 Clayton Road, BD7 2LY — possible address change not properly registered - Overdue Confirmation Statement: Suggests administrative neglect or intentional avoidance of compliance - Single director dependency: Key person risk with no governance oversight - SIC code mismatch: 77352 (freight air transport equipment leasing) seems incongruent with "Platform Hire" branding — may indicate business pivot or misclassification
Summary
This company presents an unacceptable credit risk primarily due to the active proposal to strike off, which signals likely cessation of trading. The financial trajectory compounds concerns — after years of steady growth, the business is now contracting with declining assets and implied losses. The overdue confirmation statement and address discrepancies suggest compliance failures that further undermine confidence. No credit facility should be extended while the strike-off action remains live.