Company Number: 13757233

Analysis Date: 2025-07-29 20:42 UTC

1. Credit Opinion:
   CONDITIONAL APPROVAL. Last Looks Facilities Ltd is an active private limited company operating in the rental and leasing of machinery and equipment. While the company demonstrates growth in net assets and improved financial position year-on-year, it currently exhibits significant net current liabilities, indicating a short-term liquidity strain. The directors’ loans forming a substantial portion of current liabilities suggest reliance on related-party funding. Approval is recommended with conditions, including close monitoring of liquidity and timely repayments of director loans and bank obligations.

2. Financial Strength:
   The company’s net assets have increased markedly from £2,530 in 2023 to £16,677 in 2024, driven by an increase in tangible fixed assets and retained earnings. Fixed assets stand at £60,411, primarily in plant, machinery, and motor vehicles, which can serve as collateral. However, the company's current liabilities (£33,693) exceed current assets (£6,137) resulting in a negative working capital position (-£27,556). Long-term liabilities have reduced from £23,300 to £16,178, showing some debt repayment progress. Overall, the balance sheet shows an improving but still stretched financial position with moderate leverage.

3. Cash Flow Assessment:
   Cash holdings are modest at £1,129, though improved from a negative cash position last year. Debtors have decreased to £5,008, reflecting some success in cash collection but still a material amount tied up in receivables. The company's working capital deficit indicates ongoing pressure to meet short-term obligations, with director loans (£18,683) forming a large part of current liabilities, implying dependence on insider funding. The company has a single employee, suggesting low fixed overheads, but cash flow management remains critical given the gap between current assets and liabilities.

4. Monitoring Points:

• Liquidity ratios, especially current ratio and quick ratio, to observe improvement in short-term solvency.
• Timely repayment and potential restructuring of director loans and bank borrowings.
• Debtor aging and collection efficiency to improve cash inflows.
• Profitability trends once P&L data is available, to assess sustainable earnings generation.
• Any changes in asset base or further capital injections from shareholders to strengthen equity.