MARINERS (NEWTON ABBOT) LIMITED

Executive Summary

MARINERS (NEWTON ABBOT) LIMITED is a micro-entity operating in the takeaway food sector with limited financial resources and negative working capital as of its latest accounts. While the company is compliant with filing deadlines and shows modest operational scale, the negative net assets and creditor position present significant solvency and liquidity concerns that require further investigation. Investors should seek additional financial data and clarity on liabilities before considering exposure.

MARINERS (NEWTON ABBOT) LIMITED - Analysis Report

Company Number: 13708936

Analysis Date: 2025-07-29 15:56 UTC

1. Risk Rating: HIGH
   The company shows negative net current assets and net assets in the latest financial year (2023), indicating potential solvency issues. The small scale of operations combined with negative working capital raises concerns about the ability to meet short-term obligations.

2. Key Concerns:

• Negative net current assets of £757 as of 31 October 2023, suggesting liquidity constraints.
• The company’s financial size is micro with very limited asset base and minimal equity (£757 negative net assets).
• Rapid increase in liabilities within a year without corresponding asset growth; creditors exceed current assets.

3. Positive Indicators:

• The company is active with no overdue filings, indicating compliance with statutory requirements to date.
• Directors have recently approved the accounts, demonstrating engagement in governance.
• Employee count increased from 1 to 3, potentially reflecting operational growth or scaling.

4. Due Diligence Notes:

• Investigate the nature and maturity profile of current liabilities to assess immediate liquidity risk.
• Review cash flow statements or management accounts if available to understand operational cash generation.
• Clarify ownership and control structure due to presence of a corporate PSC with voting rights and the apparent changes in directorship and shareholding.
• Assess the business model in the takeaway food sector to determine revenue stability and market positioning.
• Confirm whether any contingent liabilities or off-balance sheet obligations exist that could impact solvency.