OG SIDMOUTH LIMITED
Company number 00626054 · 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: OG SIDMOUTH LIMITED (00626054)
1. Credit Opinion: DECLINE
Reasoning: OG Sidmouth Limited is a dormant company with no trading activity, no revenue generation, and negligible cash reserves. The company's sole asset is an inter-company receivable of £35,840 owed by group undertakings, which provides no independent source of repayment. The balance sheet has undergone a dramatic contraction from approximately £1.5 million in total assets (2016) to £37,229 (2025), indicating a deliberate restructuring or asset distribution that has stripped the entity of substance. There is no operational capacity to service debt obligations from internal resources.
2. Financial Strength
Balance Sheet Composition (Year Ending 30 April 2025): - Total Assets: £37,229 - Shareholders' Funds: £37,229 - Share Capital: £20,000 - Retained Earnings: £17,229 - No external liabilities reported
Key Concerns:
| Metric | Observation |
|---|---|
| Asset Base | Critically thin — total assets insufficient to support any meaningful credit facility |
| Asset Quality | 96.3% of assets are inter-company debtors — entirely dependent on group solvency |
| Cash Position | £1,389 — insufficient to cover even minor administrative costs for an extended period |
| Tangible Security | Nil — no fixed assets, property, or independent collateral |
Historical Trajectory: The company experienced a catastrophic balance sheet contraction between FY2018 (£823,957 net assets) and FY2019 (£29,988 net assets). This approximately £794,000 reduction appears to represent a deliberate distribution or transfer of assets to group entities, likely coinciding with the name change from "Ford & Sons (Sidmouth) Limited" in October 2016 and subsequent restructuring. Since 2020, the balance sheet has continued a slow erosion of approximately £200-£300 per annum, consistent with administrative costs being absorbed against retained earnings in a dormant entity.
3. Cash Flow Assessment
Liquidity Position: - Current Assets: £37,229 (entirely current — no fixed assets) - Current Liabilities: £Nil - Working Capital: £37,229 - Cash: £1,389
Assessment: While technically solvent with positive net current assets, the working capital figure is misleading. The £35,840 inter-company debtor provides no independent liquidity — it can only be realised if the owing group entity has the means and willingness to pay. Cash has declined steadily from £25,810 (2019) to £1,389 (2025), suggesting the company is slowly consuming its cash reserves on filing and administrative costs with no income replenishment.
Debt Service Capacity: Zero. The company generates no revenue and has no operational cash flows. Any debt service would be entirely dependent on group support or realization of the inter-company receivable.
4. Monitoring Points
Should any credit exposure be considered (e.g., as part of a group guarantee structure), the following require ongoing surveillance:
| Risk Area | Metric to Monitor | Current Status |
|---|---|---|
| Inter-company debtor recoverability | Creditworthiness of Ford Property Limited and Af Property Maintenance And Management Limited | £35,840 owed — sole asset |
| Cash runway | Cash balance trend | Declining — £1,389 remaining |
| Filing compliance | Accounts and confirmation statement timeliness | Currently compliant |
| Group structure changes | PSC register updates | Ford Property Limited and Af Property Maintenance And Management Limited as PSCs |
| Dormant status | Any change in SIC code indicating resumed trading | SIC 99999 — Dormant |
| Director changes | Board composition | Three Ford family directors |
| Related party transactions | Any new inter-company balances or guarantees | Currently only debtor exists |
Additional Context
Group Structure: The company sits within the Ford family group structure, with two PSCs holding more than 75% of shares: - Ford Property Limited — significant controlling entity - Af Property Maintenance And Management Limited — holds additional control rights including right to appoint/remove directors
Historical Significance: Incorporated in 1959, this entity previously traded as "Ford & Sons (Sidmouth) Limited" before being restructured into its current dormant state. The name change in 2016 and subsequent asset depletion suggest the trading operations were transferred elsewhere within the group.
Staffing: The accounts note an average of 2 employees, which likely represents director-related costs rather than operational staff, given the dormant status.