FILLX DISPENSE LIMITED

Executive Summary

Fillx Dispense Limited is financially distressed, with significant negative working capital and net liabilities, indicating insolvency concerns. The company’s liquidity position is weak, and current financials do not support credit extension without substantial mitigation. Close monitoring of financial performance and liquidity is essential before reconsidering credit terms.

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Company Analysis

This analysis is opinion only and should not be interpreted as financial advice.

FILLX DISPENSE LIMITED - Analysis Report

Company Number: 14156926

Analysis Date: 2025-07-29 19:50 UTC

  1. Credit Opinion: DECLINE. Fillx Dispense Limited displays significant financial weakness as of the latest accounts dated 30 June 2024, with net current liabilities of £23,019 and total net liabilities (negative net assets) of £23,019. This indicates the company is insolvent on a balance sheet basis. The persistent and increasing negative working capital position over consecutive years signals poor liquidity and an inability to meet short-term obligations. Without evidence of cash flow or profit generation, the risk of default on credit facilities is high. The company is a micro-entity with limited financial resources, and its substantial creditors versus minimal current assets suggest a fragile financial condition unsuitable for credit extension at this time.

  2. Financial Strength: The balance sheet reveals a deteriorating financial position. Current assets dropped drastically from £8,349 in 2023 to £353 in 2024, while current liabilities remain static at £23,372. Negative net current assets and shareholders’ funds indicate the company’s liabilities exceed its assets by a wide margin. Share capital is minimal (£100), and no fixed assets or reserves are reported, limiting collateral availability. The company’s micro-entity status confines it to minimal reporting, but the figures presented point to financial distress and insufficient capital buffer to absorb shocks or invest in growth.

  3. Cash Flow Assessment: Current assets are insufficient to cover current liabilities, implying liquidity constraints. The reduction in current assets suggests cash or receivables have diminished significantly, possibly due to operational losses or cash outflows exceeding inflows. Working capital is deeply negative, raising concerns about the company’s ability to finance day-to-day operations or service debt without external support. The absence of detailed cash flow data limits a full assessment, but the balance sheet position strongly suggests cash flow stress.

  4. Monitoring Points:

  • Monitor subsequent filing of accounts and any improvement in current assets or reduction in liabilities.
  • Watch for director or shareholder actions to recapitalize or restructure liabilities.
  • Track any changes in payment behavior or overdue payments reported by suppliers.
  • Assess any new financial information or trading updates indicating turnaround or further deterioration.
  • Review credit references and bank statements if available to gauge cash flow trends.

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