Company Number: 15168511

Analysis Date: 2025-07-20 19:05 UTC

1. Credit Opinion: DECLINE
   THE VAULT WORCESTER LTD shows a negative net asset position of £2,790 as of its first financial year end (30/09/2024), indicating liabilities exceed assets. The micro-entity has no employees reported and minimal current assets (£28) against current liabilities (£2,818). The company is newly incorporated (September 2023) and operates in performing arts, a sector often sensitive to economic cycles. Given the negative equity, minimal asset base, and absence of trading history or cash flow data, the company currently lacks adequate financial strength to support debt obligations. Without demonstrable operational cash flow or additional capital injections, the risk of non-payment is high.

2. Financial Strength:
   The balance sheet reveals a deficit position with net liabilities of £2,790. Current liabilities significantly exceed current assets, resulting in negative working capital. Shareholders’ funds are also negative, showing an erosion of equity likely due to start-up costs or initial losses. The absence of fixed assets and zero employee count further suggest limited resource base. Overall, the financial structure is weak and undercapitalized.

3. Cash Flow Assessment:
   Cash or equivalents stand at £28, which is negligible compared to the £2,818 current liabilities due within one year. This implies immediate liquidity constraints. No data on operating cash flow or profit & loss is available, but the negative working capital and micro-entity status indicate the company may be reliant on director funding or external financing to meet obligations. Without positive cash inflows or capital support, servicing debt or trade payables will be difficult.

4. Monitoring Points:

• Improvement in net current assets and net equity on subsequent filings
• Evidence of revenue generation and positive operating cash flow
• Any capital injections or director loans to shore up liquidity
• Timely filing of accounts and confirmation statements to assess progression
• Changes in director or PSC structure indicating shifts in control or financial backing