T J KENNEY PROPERTY LIMITED

Executive Summary

T J Kenney Property Limited is a new company with a modest but positive financial position and sufficient liquidity for its current scale. Given its limited operating history and reliance on related party transactions, credit is recommended on a conditional basis with ongoing monitoring of trading performance, cash flows, and compliance filings. Early signs show prudent financial stewardship, but the company’s ability to service credit facilities will become clearer as it establishes a trading record.

T J KENNEY PROPERTY LIMITED - Analysis Report

Company Number: 15471964

Analysis Date: 2025-07-19 12:07 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   T J Kenney Property Limited is a newly incorporated private limited company with its first set of filed accounts for a short period ending August 2024. The company shows positive net assets (£17,647) and a modest working capital surplus (£7,376). However, the company is in its infancy with limited operating history and no employees, which constrains a full assessment of its ability to generate sustainable cash flows. The director, Mr. Thomas John Kenney, holds full ownership and voting control, which suggests centralized decision-making but also concentration risk. Credit approval is recommended on a conditional basis, subject to monitoring of trading performance and timely submission of subsequent accounts and confirmation statements.

2. Financial Strength:

• Fixed assets primarily comprise plant and machinery valued at £13,694, net of depreciation.
• Current assets total £45,694, dominated by cash (£42,065) and debtors (£3,629).
• Current liabilities are £38,318, including trade creditors and tax liabilities.
• Net current assets stand at £7,376, indicating a positive but narrow liquidity buffer.
• Provisions for liabilities amount to £3,423, reducing net assets accordingly.
• Shareholders’ funds of £17,647 reflect initial equity injection plus retained earnings from the initial period.
  Overall, the balance sheet is sound for a start-up, with more equity than current liabilities, but the asset base and reserves are modest.

3. Cash Flow Assessment:

• The company maintains a healthy cash balance relative to its liabilities, which supports short-term liquidity.
• Debtors are low, reducing risk of receivables delay.
• Creditors are managed within the cash and current asset coverage.
• The company’s advances to related parties (£53,000 total) and related party payables (£19,306) represent significant intercompany transactions that require monitoring for potential cash flow impacts.
• Absence of employees and limited operational scale suggest low ongoing cash burn, but also limited revenue generation to date.
• No audit was required, and income statement details are not provided, limiting cash flow visibility.
  Liquidity appears sufficient currently but should be reviewed as operations develop.

4. Monitoring Points:

• Track subsequent trading results and profitability to assess debt servicing capacity.
• Monitor timely filing of annual accounts and confirmation statements to maintain regulatory compliance.
• Review related party transactions closely to ensure they do not impair liquidity or introduce credit risk.
• Watch cash flow trends and working capital management, especially as the company grows.
• Evaluate any changes in provisioning for liabilities that may affect net assets.
• Consider the risks related to the company’s dependence on a single director and shareholder.