ROY GIBBENS CARPENTRY & JOINERY LTD

Executive Summary

Roy Gibbens Carpentry & Joinery Ltd demonstrates a stable but weakening financial position with reduced liquidity and net assets in the most recent year. While still maintaining positive equity and net current assets, the significant drop in cash balances warrants conditional credit approval with ongoing liquidity monitoring. The company’s small size and sole director structure require careful attention to cash management and creditor payments to ensure continued creditworthiness.

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Company Analysis

This analysis is opinion only and should not be interpreted as financial advice.

ROY GIBBENS CARPENTRY & JOINERY LTD - Analysis Report

Company Number: 13626144

Analysis Date: 2025-07-29 16:08 UTC

  1. Credit Opinion: CONDITIONAL APPROVAL
    Roy Gibbens Carpentry & Joinery Ltd is an active small private limited company operating in joinery installation. The company shows a positive net asset position and positive shareholders’ funds, indicating an equity buffer. However, the company’s financials for the year ending 31 March 2024 show a significant decline in net current assets and net assets compared to prior years, primarily due to reduced cash balances and increased tax and social security liabilities. This reduction in liquidity raises some concerns about short-term repayment capability. Approval is recommended but conditional on monitoring liquidity improvements and maintenance of current liabilities at manageable levels.

  2. Financial Strength:

  • Net Assets have declined from £20,801 (2023) to £14,479 (2024), a decrease of about 30%, reflecting reduced retained earnings, possibly due to increased expenses or reduced profitability.
  • Fixed assets have increased modestly to £12,151, showing some reinvestment in plant and machinery assets.
  • Shareholders’ funds remain positive at £14,479, providing equity support.
  • The company remains classified as a small entity, and the accounting complies with small companies regime without audit, which limits detailed financial scrutiny.
  1. Cash Flow Assessment:
  • Cash on hand decreased materially from £25,534 (2023) to £10,373 (2024), a 59% drop, indicating weaker liquidity.
  • Current liabilities have halved from £15,011 to £7,486, mainly due to a reduction in tax and social security liabilities (£13,986 to £6,460), which may reflect payments made or changes in accruals.
  • Net current assets have declined from £12,107 (2023) to £4,177 (2024), still positive but significantly reduced working capital.
  • Debtors are a small portion of current assets at £1,290, suggesting limited receivables risk.
  1. Monitoring Points:
  • Monitor cash flow closely to ensure the company can meet short-term obligations, especially given the cash reduction.
  • Watch tax, social security, and other creditor balances for timely settlement to avoid penalties or enforcement action.
  • Assess profitability trends and retained earnings movements in future accounts for sustaining equity levels.
  • Evaluate any changes in contract pipeline or client base that could impact revenue and liquidity.
  • Confirm no director or management issues arise that could affect governance or operational continuity.

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