PLEXUS SYSTEMS LTD

Executive Summary

Plexus Systems Ltd is currently experiencing significant financial strain, demonstrated by negative net assets and severely negative working capital. The company’s liquidity position is weak, raising concerns about its ability to meet short-term obligations and service debt. Without clear evidence of financial improvement or capital support, credit extension is not advisable at this time.

PLEXUS SYSTEMS LTD - Analysis Report

Company Number: 13033016

Analysis Date: 2025-07-29 13:31 UTC

1. Credit Opinion: DECLINE
   Plexus Systems Ltd shows significant financial distress with negative net assets of £54,529 as of the latest accounts (Nov 2023). The company’s current liabilities of £77,736 substantially exceed current assets of £10,696, resulting in a large negative working capital position (-£67,040). This indicates liquidity issues and inability to meet short-term obligations without additional capital injection. The company’s equity has deteriorated sharply from positive £20,520 in 2020 to a large deficit, signaling ongoing losses or funding gaps. Given the micro-entity status and limited financial data, the credit risk is high and the company currently lacks strength to service new or existing debt responsibly.

2. Financial Strength:
   The balance sheet reveals a weak financial position with total net liabilities of £54,529. Fixed assets are minimal (£12,511), and current liabilities have increased nearly threefold since 2022. Negative shareholder funds reflect accumulated losses or capital withdrawals. The absence of audited accounts limits confidence, and the company’s liability profile and operating scale do not support strong financial resilience. The sole director and 100% shareholder structure concentrates control but does not mitigate financial weakness.

3. Cash Flow Assessment:
   Current assets of £10,696 against current liabilities of £77,736 show inadequate liquidity and insufficient working capital to cover short-term debts. The negative net current assets position suggests the company is reliant on external funding or must generate cash rapidly to avoid insolvency. No off-balance sheet arrangements were disclosed to support liquidity. The reported average employee count of 2 suggests a small operational footprint, but cash flow challenges persist given the large creditor balances.

4. Monitoring Points:

• Changes in net current assets and movements in current liabilities on next filings.
• Evidence of capital injections or funding arrangements to restore liquidity.
• Profitability trends or loss mitigation efforts in future accounts.
• Director’s report commentary on going concern and business plans.
• Any overdue filings or regulatory actions that may indicate distress.