Company Number: 15613418

Analysis Date: 2025-07-29 12:25 UTC

Credit Opinion:
DECLINE. Goodwick Restaurant Ltd is a newly incorporated company (April 2024) with a very limited financial track record. The latest accounts show a net current liability position (-£141) and minimal cash holdings (£1), indicating tight liquidity. While the company has modest fixed assets (£4,054) and positive shareholders’ funds (£3,913), the negative working capital and absence of employees or operational scale raise concerns over its ability to service debt or withstand financial stress at this early stage.

Financial Strength:
The balance sheet reflects a small asset base primarily composed of plant and machinery (£4,054 net book value). Current assets (£1,643) are insufficient to cover current liabilities (£1,784), resulting in net current liabilities of £141. Shareholders’ funds of £3,913 reflect initial capital and retained earnings, although these likely represent startup capital rather than operating profits due to the absence of an income statement. Overall, the company is undercapitalized for meaningful operations and vulnerable to cash flow disruptions.

Cash Flow Assessment:
Cash on hand is negligible (£1), and with current liabilities exceeding current assets, the company faces a liquidity strain. Debtors of £970 represent amounts owed to the company but may not be readily collectible. There is no information on turnover or profitability, and no employees are recorded, suggesting minimal operational activity so far. Working capital is negative, which typically signals difficulty in meeting short-term obligations without external funding or owner support.

Monitoring Points:

• Timely filing of next accounts and confirmation statements to assess operational progress and financial trends.
• Development of positive working capital and cash reserves to ensure liquidity.
• Evidence of generating consistent revenue and profitability to support debt servicing.
• Any additional capital injections or credit facilities arranged by the controlling director.
• Potential changes in creditor terms or increases in liabilities affecting liquidity.
• Management capability and experience of the sole director in running the business successfully.