MICKLETON ANTIQUE CENTRE LIMITED
Executive Summary
Mickleton Antique Centre Limited’s current financials reveal a significant decline in liquidity and net assets, undermining its ability to comfortably service debt. While the company remains active and compliant with filings, its working capital position requires close monitoring and improvement before full credit approval. Conditional approval is recommended with emphasis on cash flow stabilization and operational recovery.
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This analysis is opinion only and should not be interpreted as financial advice.
MICKLETON ANTIQUE CENTRE LIMITED - Analysis Report
Credit Opinion: CONDITIONAL APPROVAL
Mickleton Antique Centre Limited shows an active trading status with a recent filing and no overdue returns or accounts, which is positive. However, the significant drop in net assets and net current assets at the 2024 year-end compared to prior years signals a weakening financial position that raises concerns regarding liquidity and working capital management. The company’s ability to service debt depends on reversing this decline or securing additional funding. Credit approval is conditional on monitoring improved cash flow management and profitability stabilization going forward.Financial Strength:
The company’s net assets decreased sharply from £41,799 in 2023 to £10,470 in 2024, reflecting a substantial erosion of equity. Current assets plummeted from £45,815 to £235, largely due to a complete write-down of stock and a drastic fall in cash reserves. Tangible fixed assets remained stable at £4,500. The current liabilities moved from a positive net working capital position (£37,299 net current assets in 2023) to a negative one (£5,970 net current assets in 2024), indicating potential liquidity stress. The small share capital of £100 provides negligible buffer.Cash Flow Assessment:
Cash on hand at year-end 2024 is only £235 compared to £27,550 in 2023, showing severe liquidity constraints. The absence of stock in 2024 suggests a potential disposal or write-off, which may have negatively impacted cash flow or indicates inventory management issues. Current liabilities are reported as negative £5,735 in 2024, which appears to be a data anomaly or reflects creditor overpayments or adjustments; this requires clarification. Overall, working capital has deteriorated significantly, raising concerns about the company’s ability to meet short-term obligations without external support.Monitoring Points:
- Monitor subsequent cash flow statements and bank statements for liquidity recovery.
- Track stock levels and inventory turnover to assess operational stability.
- Review accounts receivable and payable aging to identify collection or payment delays.
- Watch for any changes in director or ownership structure that may impact governance.
- Ensure timely filing of next accounts and returns to maintain compliance and transparency.
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