Company Number: 13022367

Analysis Date: 2025-07-20 14:29 UTC

1. Credit Opinion: DECLINE. TD GOLF LTD presents a weak financial profile with negligible equity and persistent net liabilities beyond one year. The company’s net assets remain at a minimal £2 over multiple years, indicating virtually no retained earnings or capital buffer. The balance sheet shows substantial long-term creditors almost equal to total assets, suggesting high leverage and potential solvency concerns. The lack of audited accounts and absence of significant cash or working capital cushions further increase credit risk. Given these factors, the company’s ability to meet debt obligations or new credit facilities appears limited without significant external support or capital injection.

2. Financial Strength: The company is categorized as Micro with minimal fixed assets (£2,796 in 2024, declining from £5,069 in 2020) and current assets of £2,219 against current liabilities reported as £4,662 under creditors falling due after more than one year (long-term). There appears to be a classification discrepancy as current liabilities are shown as a negative figure under creditors due within one year (-£351), which likely reflects a presentation issue, but overall, net current assets are positive at £1,868 in 2024, an improvement from £736 in 2021. However, total net assets of £2 reflect minimal shareholder equity and no retained earnings, indicating very thin capitalization and no financial buffer to absorb losses.

3. Cash Flow Assessment: The company has only one employee, suggesting low operating overheads, but fixed and current asset levels are low. Positive net current assets (£1,868) indicate working capital is sufficient to cover short-term liabilities currently. However, the nearly equivalent long-term liabilities (£4,662) to total assets imply heavy gearing and possible cash flow strain when long-term debts fall due. The absence of significant cash reserves or evidence of positive operating cash flows (not disclosed) suggests liquidity risk. The company likely depends on external funds or owner support to maintain operations.

4. Monitoring Points:

• Track changes in net assets and shareholder funds; any improvement would reduce credit risk.
• Monitor long-term creditor balances and repayment schedules to assess refinancing risks.
• Watch for any overdue filings or delayed payments that could signal operational stress.
• Assess director and shareholder financial support or capital injections as a sign of business viability.
• Review cash flow statements (when available) to confirm operational liquidity and debt servicing ability.