SET IN STONE IRELAND LTD

Executive Summary

Set In Stone Ireland Ltd is a micro-entity with a deteriorating financial position, showing net liabilities and minimal liquidity as of the latest accounts. The company's limited asset base and negative working capital present high credit risk, making it unable to support new credit facilities at this time. Close monitoring of financial improvements and operational performance is necessary before reconsidering credit exposure.

SET IN STONE IRELAND LTD - Analysis Report

Company Number: NI684522

Analysis Date: 2025-07-29 20:34 UTC

1. Credit Opinion: DECLINE
   Set In Stone Ireland Ltd demonstrates significant financial weakness, with a net liability position as of the latest accounts (2023). The company’s net current assets moved from a marginal positive £1 in 2022 to a negative £986 in 2023, indicating worsening liquidity and an inability to cover short-term liabilities. The absence of fixed assets and minimal current assets (£4 in 2023) raises concerns about operational resilience and asset backing. Given the micro-entity scale and limited financial resources, the company lacks the financial strength to reliably service debt or withstand economic fluctuations. The single director and 100% shareholder control by one individual present concentration risk without evidence of broader financial management or governance structures.

2. Financial Strength:
   The balance sheet shows a deteriorating position with net assets declining from £1 (2022) to a net liability of £986 (2023). Current liabilities remain nearly £1,000 while current assets have collapsed to only £4, indicating severe working capital constraints. No fixed assets are held, and shareholder funds are negative, meaning the company is effectively insolvent on a net asset basis. This undermines financial stability and suggests reliance on external funding or director support to continue operations.

3. Cash Flow Assessment:
   The company’s cash or liquid assets are negligible (£4 in 2023), insufficient to meet current liabilities of £990 due within one year. This negative working capital position signals poor liquidity and raises substantial credit risk. With only one employee and minimal operational scale, cash inflows are likely limited. Without evidence of strong cash generation or external liquidity support, the company’s ability to meet financial obligations is questionable.

4. Monitoring Points:

• Monitor future annual accounts for improvements in liquidity and net asset position.
• Watch for timely filing of accounts and confirmation statements to ensure compliance.
• Track any changes in director or ownership structure that might affect governance or financial support.
• Observe any significant changes in turnover or operational scale to assess business viability.
• Review credit references or payment history if credit facilities are extended.