Company Number: 13147119

Analysis Date: 2025-07-20 17:58 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   GT WORX LTD presents as an operational SME in vehicle maintenance with a short trading history since 2021. The company has returned to positive net assets in 2024 after prior years of net liabilities, indicating some recovery. However, cash balances are very low (£415) relative to current liabilities due within one year (£4,216), signaling liquidity strain. The large portion of creditors due after one year (£31,279) suggests reliance on longer-term payables or loans. Given these factors, credit facilities may be approved on condition of improved liquidity monitoring and possibly secured or guaranteed lending to mitigate risk.

2. Financial Strength:
   The balance sheet shows a reduction in fixed assets from £50,430 to £41,353 due to depreciation, with no new additions, indicating limited recent capital investment. Net assets improved from negative £7,112 in 2023 to positive £6,273 in 2024, driven by a turnaround in profit/loss reserves, which is a positive sign. The company’s share capital remains nominal (£1), reflecting a micro or small scale operation. Current liabilities have decreased substantially from £9,070 to £4,216, improving short-term solvency. Nonetheless, the large non-current liabilities (£31,279) remain a concern and warrant further scrutiny regarding repayment terms.

3. Cash Flow Assessment:
   Cash at bank is minimal (£415), which constrains operational flexibility and ability to service short-term obligations. The company’s net current assets remain negative (£-3,801), although improved compared to the prior year (£-7,180). This implies working capital pressures persist, and the company is likely dependent on creditor financing or other sources to cover immediate expenses. The absence of reported turnover and profit/loss data limits full cash flow analysis, but the low liquidity position demands caution.

4. Monitoring Points:

• Liquidity ratios and cash flow trends to ensure the company can meet short-term liabilities.
• Details and terms of the long-term creditors or loans to assess refinancing or repayment risks.
• Profitability and turnover evolution with future accounts filings to confirm financial recovery sustainability.
• Stability and background of current management, especially since director change in March 2024, to evaluate governance and operational continuity.