LANDBRAY LIMITED
Company number 00809162 · 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: LANDBRAY LIMITED
1. Credit Opinion: DECLINE
This application must be declined. The company presents multiple fundamental credit concerns that render it unsuitable for lending facilities:
- Active strike-off proceedings indicate the company is being wound up voluntarily or by third-party action
- Technical insolvency with negative net assets of £150,510
- Statutory non-compliance with both accounts and confirmation statement overdue
- No visible trading activity with zero employees and minimal current assets
No commercial lending proposition exists here. The strike-off status alone is an absolute bar to credit extension.
2. Financial Strength: CRITICAL WEAKNESS
Balance Sheet Position (March 2023):
| Item | 2023 | 2022 |
|---|---|---|
| Current Assets | £20,816 | £23,550 |
| Creditors (< 1 year) | £5 | £5 |
| Net Current Assets | £20,811 | £23,550 |
| Long-term Creditors | (£170,000) | (£170,000) |
| Accruals | (£1,321) | (£1,241) |
| Net Assets | (£150,510) | (£147,691) |
Key Concerns:
- Insolvent: Liabilities exceed assets by £150,510. The company cannot meet its obligations from its balance sheet position.
- Static long-term debt: The £170,000 creditor has remained unchanged since at least 2019, suggesting this is likely a related-party loan (possibly from the Bude family) with no apparent repayment schedule.
- Deteriorating liquidity: Current assets declined 12% year-on-year from £23,550 to £20,816. Cash position has collapsed from £199,219 (2014) to negligible levels.
- Minimal share capital: Only £2 in issued share capital, providing no equity cushion whatsoever.
Historical Trajectory: The company's net asset position has been negative and deteriorating since 2018, when long-term liabilities jumped from ~£35,000 to £120,000+.
3. Cash Flow Assessment: INADEQUATE
Liquidity Position: - Current ratio: 4,163:1 (current assets £20,816 vs £5 current liabilities) — misleadingly strong due to minimal current liabilities - However, the £170,000 long-term creditor dwarfs available assets - No evidence of revenue generation or trading income to service debt
Working Capital: Net current assets of £20,811 provide no meaningful buffer against the £170,000 long-term obligation. The company appears to be a dormant property-holding vehicle with no operational cash generation.
Debt Service Capacity: Zero. With no employees, no visible trading activity, and minimal current assets, there is no capacity to service new or existing debt obligations.
4. Monitoring Points
If any facility were ever considered (which should not be the case), the following would require resolution:
| Metric | Current Status | Required Action |
|---|---|---|
| Strike-off status | Active proposal to strike off | Must be resolved/withdrawn before any engagement |
| Overdue accounts | Overdue | Must file all outstanding accounts |
| Overdue confirmation statement | Overdue | Must file immediately |
| Related-party debt | £170,000 unexplained | Full disclosure of terms, security, and subordination required |
| Source of repayment | None identified | Viable trading plan required |
| Director conduct | No disqualifications found | Satisfactory, but limited verification possible given micro-entity filing |
Additional Red Flags: - Directors Raphael and Helena Bude appear to operate as a family unit with >75% control concentrated in Helena Bude - The company has been a micro-entity throughout, providing minimal financial transparency - The nature of the £170,000 long-term creditor and any security held against it is unknown - The registered address is a residential property, consistent with a small property-holding vehicle