MEDINBRAND LIMITED
Company number 03656430 · 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: MEDINBRAND LIMITED
1. Credit Opinion: DECLINE
This application must be declined. The company is currently in liquidation, which fundamentally precludes any new credit facility. A company in liquidation is under formal closure proceedings and cannot legally enter into new borrowing arrangements or honor commercial obligations going forward. Even absent the liquidation status, the deeply insolvent balance sheet, negligible cash, and absence of trading activity would render any lending proposition unacceptable.
2. Financial Strength: Critically Weak
The balance sheet reveals severe and persistent insolvency:
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | £932,664 | £932,664 | £787,743 |
| Total Liabilities | £1,815,103 | £1,815,103 | £1,648,145 |
| Net Assets | (£898,272) | (£898,272) | (£886,234) |
| Shareholders' Funds | (£898,272) | (£898,272) | (£886,236) |
Key concerns:
- Negative net assets of nearly £900k — the company has been insolvent throughout the entire 10-year review period, with accumulated losses consistently exceeding share capital and reserves
- Liabilities exceed assets by approximately 2:1 — total creditors are nearly double total assets
- Balance sheet frozen between 2023 and 2024 — identical figures suggest no trading activity whatsoever; the company appears dormant or in stasis pending liquidation
- Share capital of just £2 — provides no meaningful cushion
- Asset composition: As a property company (SIC 68100), the £932k in assets likely comprises illiquid real estate, which cannot be readily converted to service debts
The long-term insolvency trajectory shows no realistic path to recovery without significant external intervention or asset realisation.
3. Cash Flow Assessment: Non-Functional
| Year | Cash |
|---|---|
| 2024 | Not disclosed (micro-entity exemption) |
| 2022 | £443 |
| 2021 | £120 |
| 2020 | £7,664 |
| 2019 | £2,549 |
| 2018 | £17,708 |
| 2017 | £46,141 |
Critical findings:
- Near-zero cash balances — £443 in 2022 and £120 in 2021 are functionally insignificant for any commercial operation
- No employees (0 in both 2023 and 2024) — the company has no operational workforce
- No evidence of revenue generation — micro-entity accounts do not disclose turnover, but the static balance sheet and zero employees strongly suggest the company is not trading
- Current liabilities of £1.8m falling due within one year with negligible cash — the company has no means to service these obligations from operations
- Working capital deficit of £882,440 — current liabilities massively exceed current assets, meaning the company cannot meet its near-term obligations
The cash flow position is terminal. With no trading income, no employees, and negligible cash, the company has no capacity to service any debt facility.
4. Monitoring Points
While this is a clear decline, the following should be noted for any existing exposure or connected parties:
- Liquidation proceedings — monitor the liquidator's statement of affairs and realisation of the property assets; the £932k in assets may partially satisfy creditor claims
- Connected party risk — David Ian Lewin (PSC with >75% shareholding and director appointment rights) and Teresa Seymour hold directorships; check for cross-guarantees or connected lending
- Director conduct — no disqualification orders are recorded, but the prolonged trading whilst insolvent (10+ years of negative net assets) raises questions about potential wrongful trading under the Insolvency Act 1986
- Creditor position — identify whether the £1.8m in current liabilities includes secured lending (bank charges/mortgages on the property assets) or related-party debts
- Filing compliance — accounts are current (approved 19 February 2026 for the year ending 30 October 2024), but the micro-entity regime provides minimal transparency