GLEAMCO WASTE MANAGEMENT LTD

Executive Summary

Gleamco Waste Management Ltd presents a low risk profile based on its positive net assets, current compliance with filing requirements, and manageable working capital. However, liquidity is constrained by low cash balances and significant debtor reliance, coupled with a recent director resignation that warrants further governance review. Overall, the company appears solvent and operationally stable within its small-scale waste collection business.

GLEAMCO WASTE MANAGEMENT LTD - Analysis Report

Company Number: 13612300

Analysis Date: 2025-07-20 19:07 UTC

1. Risk Rating: LOW
   The company demonstrates a positive net asset position and net current assets, with no overdue filings or indications of distress. Financials appear stable for a young private limited company operating in waste management.

2. Key Concerns:

• Reliance on a single debtor category (£11,565) representing the majority of current assets may indicate customer concentration risk or potential receivables collectability issues.
• Limited cash reserves (£1,376) relative to current liabilities (£10,295) could present liquidity constraints if receivables are delayed.
• Director turnover: The only recorded director resigned in April 2023; lack of current director information beyond the PSC may raise governance or operational continuity questions.

3. Positive Indicators:

• Net current assets of £2,646 and positive shareholders’ funds (£13,621) as of 2024 suggest solvency and working capital adequacy.
• No overdue accounts or confirmation statements, indicating compliance with statutory filing requirements.
• The company benefits from full exemption accounts under the small company regime, consistent with its scale and financial position.
• Ownership is concentrated with a PSC holding majority shares and control, which can facilitate decisive management.

4. Due Diligence Notes:

• Verify the collectability and aging of debtor balances to assess liquidity risk more accurately.
• Clarify current board composition and management capability following the resignation of the director in 2023.
• Review cash flow forecasts to confirm the company’s ability to meet short-term liabilities given limited cash on hand.
• Investigate VAT and corporation tax creditor balances to determine timing and impact on cash flow.
• Confirm whether the company has any contingent liabilities or off-balance sheet obligations not visible in the filings.