ITG INSTRUCTOR TRAINING LTD
Company number 06916181 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Credit Analysis: ITG INSTRUCTOR TRAINING LTD
1. Credit Opinion: DECLINE
This application must be declined. The company is currently subject to a proposal to strike off the Companies House register, with a dissolution date of 18 August 2026. This means the entity will imminently cease to exist, rendering any credit facility unenforceable. Additionally, the 2025 financial statements reveal a catastrophic collapse in net assets from £117,888 to £0, with retained earnings moving to a deficit of (£1,000). There is no viable going concern to lend against.
2. Financial Strength: CRITICAL WEAKNESS
The balance sheet has undergone severe deterioration:
| Metric | 2024 | 2025 | Movement |
|---|---|---|---|
| Net Assets | £117,888 | £0 | -£117,888 |
| Shareholders' Funds | £117,888 | £1,000 | -£116,888 |
| Retained Earnings | £116,888 | (£1,000) | -£117,888 |
| Debtors | £118,066 | £0 | -£118,066 |
The entire debtor book of £118,066 has been eliminated in the 2025 accounts, suggesting either write-off, collection, or transfer out of the business. This single item accounts for the near-total destruction of shareholder value. The company now holds only £1,000 in share capital with negative retained earnings, leaving it technically insolvent on a going concern basis.
Historical trajectory showed steady growth from £15,200 net assets (2016) to £118,158 (2023), demonstrating the business previously generated consistent profits. However, the 2025 position represents a complete reversal of this accumulated wealth.
3. Cash Flow Assessment: NO LIQUIDITY
Cash has been on a sustained decline: - 2020: £145,109 - 2021: £149,748 - 2022: £114,005 - 2023: £92,494 - 2025: Not separately disclosed, but with £0 debtors and £0 net assets, cash is immaterial
The business historically operated as a cash-rich training provider with minimal debt (£30,617 current liabilities against £148,017 total assets in 2023). Working capital was consistently positive. However, the current position shows no current assets whatsoever, meaning the company has no liquidity to service any debt obligation.
4. Monitoring Points
Should the strike-off action be suspended and the company seek to trade on, the following would require verification:
- Source of debtor elimination: Confirm whether the £118,066 debtor write-off represents bad debts, intercompany transfers, or genuine collection
- Strike-off status: Monitor Companies House for resolution of the strike-off proposal - this may indicate a voluntary cessation or a compulsory action by a creditor
- Director conduct: Mr Keith Sleightholm remains the sole director; verify no disqualification proceedings
- Related party transactions: With two PSCs (Mr and Mrs Sleightholm) each holding 25-50%, investigate whether asset stripping has occurred prior to dissolution
- Tax liabilities: The £178 provision may relate to outstanding tax obligations requiring confirmation with HMRC