N C KIRBY PROPERTIES LTD

Executive Summary

N C KIRBY PROPERTIES LTD shows signs of liquidity pressure due to a consistent negative working capital position and high current liabilities relative to current assets. However, the recent positive swing in net assets and stable fixed assets provide some reassurance. Continued regulatory compliance and active status are positive, but further scrutiny of liabilities and cash flows is recommended to fully assess operational sustainability.

N C KIRBY PROPERTIES LTD - Analysis Report

Company Number: 13146814

Analysis Date: 2025-07-29 12:43 UTC

1. Risk Rating: MEDIUM

The company’s financial position exhibits characteristics that warrant caution. While it holds substantial fixed assets, the persistent negative net current assets and high short-term liabilities relative to current assets indicate liquidity stress. However, a slight improvement in net assets to a positive figure in the latest year suggests some recovery.

2. Key Concerns:

• Negative Working Capital: The company has consistently reported net current liabilities exceeding £120k, signifying potential difficulties in meeting short-term obligations.
• High Current Liabilities: Current liabilities remain significant (£130k+), almost 34 times the current assets, which may strain cash flows and operational flexibility.
• Small Share Capital & Equity Base: With share capital of only £100 and minimal shareholders’ funds (£9,244), the company has limited equity buffer to absorb losses or shocks.

3. Positive Indicators:

• Stable Fixed Assets: Fixed assets have remained stable at approximately £357k, indicating some asset backing to the business.
• Improvement in Net Assets: The company moved from a negative net asset position in previous years to a modest positive net asset figure as of January 2024, showing a potential turnaround or injection of equity/profits.
• Compliance: The company is active with no overdue filings for accounts or confirmation statements, demonstrating regulatory compliance and good governance in this respect.

4. Due Diligence Notes:

• Investigate the nature and terms of the current liabilities, especially those falling due within one year, to assess repayment schedules and potential refinancing risks.
• Review cash flow statements or management accounts (if available) to understand operating cash flows and whether liquidity issues are being managed effectively.
• Clarify the source of the recent improvement in net assets—whether from retained earnings, capital injection, or revaluation of assets.
• Assess the business model sustainability given zero reported employees and reliance on fixed assets for real estate trading activities.
• Confirm no director disqualifications or adverse conduct records associated with the current directors.