STEVE BLESS DRIVE LTD

Executive Summary

STEVE BLESS DRIVE LTD is currently in a financially distressed position with negative net assets and inadequate liquidity, undermining its ability to meet short-term obligations. The company's financial trajectory is declining, and management appears limited in capacity to reverse this trend. Credit facilities should be declined at this time due to high risk of default and insufficient financial strength.

STEVE BLESS DRIVE LTD - Analysis Report

Company Number: 12941113

Analysis Date: 2025-07-29 12:58 UTC

1. Credit Opinion: DECLINE
   STEVE BLESS DRIVE LTD exhibits significant financial distress and weak creditworthiness. The latest accounts reveal net liabilities of £622 as of 31 October 2024, with negative net current assets (£322), indicating liquidity issues and inability to cover short-term obligations. The company has deteriorated from positive net assets of £3,150 in 2023 to negative territory in 2024, evidencing a troubling financial trajectory. There is no indication of operational activity or employees, and the single director’s occupation outside the business sector suggests limited management capacity to turn the company around. Given the micro-entity scale and poor financial health, approval for credit facilities is not advisable.

2. Financial Strength:
   The balance sheet shows a weak financial position. Current assets are minimal at £8 against current liabilities of £330, resulting in working capital deficiency. The company’s net liabilities have worsened from £3,150 negative in 2023 to £622 negative in 2024, after a brief positive position in 2023. Shareholders’ funds are negative, indicating erosion of equity. The lack of fixed assets and minimal share capital (£1) further weakens the capital base. Overall, the company is undercapitalized with negative net assets and insufficient resources to absorb financial shocks.

3. Cash Flow Assessment:
   With current liabilities exceeding current assets, the company is likely struggling with liquidity and cash flow constraints. The absence of employees and minimal current assets suggest limited operational activity, which would restrict cash generation. Negative working capital signals the company may face difficulties meeting short-term creditor demands without external funding or asset sales. No cash or cash equivalents are reported, heightening concerns about immediate payment capability.

4. Monitoring Points:

• Monitor quarterly cash flow statements if available to assess liquidity improvements or further deterioration.
• Observe any changes in director or ownership structure that may signal attempts to recapitalize or restructure.
• Review subsequent filing of profit and loss accounts to evaluate operational performance trends.
• Watch for any overdue filings or signs of insolvency proceedings.
• Track trade creditor payment patterns and any increases in short-term borrowing.