Credit Assessment: MAYFAIR REFURBISHMENTS LIMITED

1. Credit Opinion: DECLINE

This company presents unacceptable credit risk for standard commercial facilities. The business is technically insolvent with net liabilities of £2,866, has experienced an 89% collapse in total assets since 2019 (from £163,722 to £18,878), and reports zero employees—suggesting it is either dormant or operating at a negligible level. The sole director/shareholder has full control with no independent oversight, and micro-entity filing provides minimal transparency. No reasonable prospect of debt service exists from current operations.

2. Financial Strength: CRITICAL WEAKNESS

Insolvency Position: - Net assets are negative £2,866 (2025) and negative £1,922 (2024) - Total liabilities exceed total assets—company cannot cover debts from its balance sheet - Shareholders' funds are in deficit, meaning capital is eroded

Asset Deterioration: | Metric | 2019 | 2022 | 2025 | |--------|------|------|------| | Total Assets | £163,722 | £22,918 | £18,878 | | Net Assets | £13,378 | £3,505 | (£2,866) |

The trajectory shows a business that has contracted dramatically and is now in a deficit position. Fixed assets are negligible at £444.

Capital Structure: Share capital of £1 only. No retained profits—accumulated losses instead.

3. Cash Flow Assessment: INADEQUATE

Working Capital Deficit: - Current assets: £18,434 - Current liabilities: £20,344 - Net current liabilities: (£1,910)

The company cannot cover short-term obligations from current assets. Cash position is not disclosed but given the minimal asset base, liquidity is presumed critical.

Operational Indicator: Zero employees reported. This raises serious questions about whether any trading activity is occurring to generate cash flow.

Accruals Growth: Accruals and deferred income doubled from £700 to £1,400, suggesting mounting obligations without corresponding revenue generation.

4. Monitoring Points

If any exposure exists or is being considered (e.g., through a related party or guarantee):

• Insolvency escalation: Net liabilities deepening from (£1,922) to (£2,866)—monitor for further deterioration
• Director's loan account: Micro-entity accounts do not disclose related-party balances; the sole director may be a creditor, which could affect priority of claims
• Filing compliance: Currently up to date, but watch for late filings as a distress indicator
• Creditor action: With £20,344 in current liabilities and no visible cash generation, risk of creditor pressure or winding-up petition
• Business activity verification: Zero employees and asset collapse suggest possible dormancy or cessation—confirm actual trading status before any engagement
• Connected exposures: Director Steven William Goodman holds >75% control; check for other directorships or associated credit risks