Company Number: 14469920

Analysis Date: 2025-07-20 13:11 UTC

1. Credit Opinion: DECLINE
   GYM PLUG LIMITED presents a high credit risk profile. Despite being an active private limited company with recent incorporation (Nov 2022), its financials reveal consistent net liabilities and negative net current assets, indicating insufficient short-term liquidity to meet obligations. The negative net assets and shareholders’ funds increasing in deficit from (£2,428) in 2023 to (£6,646) in 2024 suggest ongoing losses or capital erosion with no fixed assets or employees, raising concerns about operational capacity and sustainability. The company operates as an agent in goods sales but lacks evident financial strength or trading history to support credit extension.

2. Financial Strength:
   The balance sheet shows deteriorating financial health. Current liabilities (£8,815) exceed current assets (£2,819) by a significant margin, resulting in net current liabilities of (£5,996). There are no fixed assets to provide collateral or long-term value. The negative shareholders’ funds and net assets position indicate that liabilities exceed assets by £6,646, reflecting accumulated losses or funding deficits. The absence of employees and minimal asset base reduces financial resilience and flexibility.

3. Cash Flow Assessment:
   No direct cash flow data is provided, but the working capital position is clearly negative. The company’s ability to generate cash internally is doubtful, given the absence of fixed assets, employees, or evident trading scale. The increase in current liabilities and decrease in net assets imply reliance on external financing or creditor support. Liquidity constraints are likely, posing risk to timely debt servicing and operational continuity.

4. Monitoring Points:

• Quarterly review of cash flow statements and bank balances to confirm liquidity status.
• Updates on working capital movements and any new financing arrangements.
• Monitoring filings for any changes in company status or director appointments.
• Watch for improvements in net asset position or operational scale (e.g., hiring employees, asset acquisition).
• Directors’ plans for business growth or restructuring to restore financial viability.