Company Number: 13519942

Analysis Date: 2025-07-20 14:27 UTC

1. Risk Rating: LOW

The financial data and company documentation for Gibair Limited indicate a stable financial position with positive net assets and increasing shareholder funds. The company is current with all statutory filings, and no indications of insolvency or liquidity stress are evident.

2. Key Concerns:

• Elevated Current Liabilities: While net current assets are positive (£125,578 as of 31 March 2024), current liabilities have increased significantly to £590,844, which requires monitoring to ensure ongoing liquidity is sufficient to meet short-term obligations.
• Concentrated Control: Shareholding is dominated by Gibair Holdings Limited (75-100%) and Mr. Neil Simon Gibbard (50-75%), which could present governance risks or reduced oversight.
• Limited Audit Scope: The accounts are unaudited and prepared under the small companies regime exemption. While this is compliant, it limits external assurance over financial accuracy and completeness.

3. Positive Indicators:

• Growing Financial Strength: Shareholders’ funds more than doubled from £73,083 in 2023 to £158,560 in 2024, reflecting retained earnings and asset growth.
• Healthy Liquidity Position: Cash balances increased from £177,728 to £241,648, supporting operational liquidity.
• Compliance and Timeliness: The company’s accounts and confirmation statements are filed on time, indicating good regulatory compliance.

4. Due Diligence Notes:

• Review the composition of current liabilities to assess the mix of trade creditors, tax obligations, and other payables, and confirm timing and payment terms.
• Investigate the revenue recognition and contract accounting policies, given the company operates in steam and air conditioning supply and uses percentage of completion accounting for contracts.
• Evaluate the impact of related party transactions or governance arrangements due to concentrated ownership and director appointments.
• Confirm whether there are any contingent liabilities or off-balance sheet commitments not disclosed.
• Monitor any changes in director appointments or PSC structure that could affect control or operational stability.