Company Number: 12755874

Analysis Date: 2025-07-20 18:29 UTC

1. Risk Rating: LOW
   Fitzsimmons Drylining Ltd demonstrates improving net assets and positive working capital, with no overdue filings or signs of financial distress. The business appears solvent and compliant with filing requirements, supporting a low risk rating.

2. Key Concerns:

• Reliance on a single director and employee may pose operational risks if that individual is unavailable or leaves.
• Modest fixed asset base and limited share capital (£1) suggest constrained financial buffer for unexpected shocks.
• Current liabilities remain significant relative to current assets, though net current assets improved recently, warranting monitoring of short-term liquidity.

3. Positive Indicators:

• Consistent growth in net assets from £7,938 in 2020 to £29,408 in 2024 shows strengthening equity position.
• Positive net current assets (£13,805 as of July 2024) indicate the company can cover short-term obligations.
• Timely filing of accounts and confirmation statements reflects good governance and regulatory compliance.
• Micro-entity status reduces administrative burden and fits the size of the business appropriately.

4. Due Diligence Notes:

• Review the nature and terms of current and long-term liabilities (£73,882 short-term, £6,533 long-term) to assess repayment schedules and potential refinancing risks.
• Confirm the business model’s sustainability and client diversification given only one employee and director.
• Verify any related party transactions or director loans not disclosed in summary data.
• Assess cash flow statements if available to verify liquidity beyond balance sheet figures.
• Monitor any changes in director status or significant control to pre-empt governance risks.