Company Number: 13124496

Analysis Date: 2025-07-29 17:25 UTC

1. Credit Opinion: DECLINE
   FIELD KEITH LTD exhibits significant financial weakness with net liabilities reported in the latest available financials from January 2022. The company’s current liabilities significantly exceed current assets, resulting in a large negative working capital position (-£109,769). The balance sheet shows net liabilities of £2,050, indicating that the company’s obligations exceed its assets. Additionally, the company is reliant on related party funding, as evidenced by substantial creditors due to the parent company and related entities. There is also no evidence of profitability or positive cash flow generation to support debt servicing. Although the company is still active and has recently changed directors and company name, the financial data suggests a high risk profile. Without evidence of improved financial performance or strengthened balance sheet, extending credit facilities at this stage is not advisable.

2. Financial Strength:
   The company’s balance sheet reveals a weak financial position. Fixed assets consist solely of intangible assets (development expenditure) valued at £107,719. Current assets total only £14,307 (primarily cash and debtors), while current liabilities stand at £124,076, dominated by amounts owed to related parties (£119,982 to the immediate parent company). Shareholders’ funds are negative at £2,150, reflecting accumulated losses and insufficient equity capital. The company is classified as a small private limited entity, but the financial profile is more typical of a start-up or early-stage development company with ongoing funding needs rather than a stable going concern with independent financial strength.

3. Cash Flow Assessment:
   Cash holdings are minimal at £12,872, insufficient to cover current liabilities of £124,076. Negative net current assets (-£109,769) indicate poor liquidity and an inability to meet short-term obligations without external support. The reliance on related party creditors suggests the company is currently dependent on shareholder or group company funding to maintain operations. The absence of profit and loss data for recent periods, plus no indication of operational cash inflows, raises concerns about ongoing cash generation and the company’s ability to service any new or existing borrowings.

4. Monitoring Points:

• Monitor updated financial statements for evidence of improved profitability or cash flow generation.
• Watch for changes in related party balances to assess if external funding is being replaced by operational cash flows.
• Track any new credit facilities or external debt that could alter the company's liquidity position.
• Review director and ownership changes for any impact on governance or financial strategy.
• Assess any future filings for signs of turnaround or increased financial stability, especially given the recent name change and new director appointments.