THE NO COACH LTD

Executive Summary

THE NO COACH LTD exhibits a weak financial profile characterized by negative net assets, minimal liquidity, and reliance on director funding. The company’s creditworthiness is low, with significant risk of default on debt obligations without ongoing shareholder support. Close monitoring of cash flows and creditor balances is essential before considering credit exposure.

THE NO COACH LTD - Analysis Report

Company Number: 13055345

Analysis Date: 2025-07-20 12:54 UTC

1. Credit Opinion: DECLINE
   THE NO COACH LTD presents significant credit risk primarily due to its persistent negative net asset position (£ -10,576 as of 31-Dec-2023) and very limited current assets (£5) compared to short-term liabilities (£11,307). Despite the director’s ongoing financial support and the company’s going concern assertion, the absence of a positive working capital base and lack of employees indicates minimal operational scale and cash generation capacity. These factors undermine the company’s ability to reliably service any new or existing debt without continued shareholder funding. Given the micro entity scale and negative equity, the credit exposure is high.

2. Financial Strength:
   The company’s balance sheet shows deterioration over the last 2 years, with net assets declining from £-8,843 in 2022 to £-10,576 in 2023. Fixed assets are negligible (£726), and current assets are almost non-existent, leading to a severe working capital deficit. The creditor balance due within one year has increased, heightening liquidity risk. The equity position is deeply negative, reflecting accumulated losses or funding shortfalls. This weak financial foundation limits the company’s resilience and flexibility to absorb financial shocks.

3. Cash Flow Assessment:
   Current assets of only £5 versus current liabilities of £11,307 imply acute liquidity constraints. No employees are recorded, suggesting minimal operating activity and limited internal cash generation. The accounts do not provide explicit cash flow statements, but the financial structure indicates reliance on shareholder injections or external funding to meet obligations. The negative net current assets and net liabilities suggest ongoing cash flow pressure, making repayment capacity uncertain without external support.

4. Monitoring Points:

• Cash flow statements and actual liquidity improvements to assess operational cash generation.
• Changes in current liabilities, especially creditor aging and payment terms.
• Revenue trends and customer concentration to verify future income prospects.
• Continued financial support from the director/shareholder and any capital injections.
• Filing of full accounts and income statements to better understand profitability and cash flow drivers.