THE WALTZING MATILDA BOAT LTD

Executive Summary

The Waltzing Matilda Boat Ltd demonstrates improving financial stability with positive working capital and increased net assets, suitable for limited credit exposure. However, overdue filing and micro-entity scale warrant cautious credit terms with conditions on compliance and regular financial updates. Monitoring liquidity and sector conditions will be key to managing credit risk.

THE WALTZING MATILDA BOAT LTD - Analysis Report

Company Number: 13112293

Analysis Date: 2025-07-20 16:09 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   The Waltzing Matilda Boat Ltd shows a modest but improving financial position typical of a micro-entity in its early years. The company’s net assets have increased significantly from £1,578 in 2022 to £4,388 in 2023, driven by improved working capital and controlled liabilities. The business operates in the take-away food sector, which can be sensitive to economic fluctuations but also offers steady demand. However, the company has overdue accounts filing, which raises some compliance concerns. Directors appear stable with no adverse conduct records. Given the small scale and limited financial data, credit should be extended cautiously, with conditions on timely future filings and monitoring.

2. Financial Strength:

• Fixed assets are minimal (£2,776) reflecting a low capital base.
• Current assets (£3,770) exceed current liabilities (£2,110) by £1,660, indicating positive working capital.
• Net assets improved from £1,578 to £4,388 year on year, suggesting retention of earnings or capital injections.
• Share capital is nominal (£10), indicating limited equity funding but shareholders’ funds have grown through reserves.
  Overall, the balance sheet shows a stable but very small equity base consistent with micro company status.

3. Cash Flow Assessment:

• Positive net current assets suggest liquidity is adequate to meet short-term obligations.
• The increase in current assets alongside a reduction in current liabilities from prior year indicates better cash or receivables management.
• No information on cash flow statements or profitability was provided, limiting full cash flow analysis.
• Absence of employees suggests low overheads but also a limited operational scale.
  Liquidity appears sound for the company’s size, but ongoing monitoring of cash conversion and creditor payments is recommended.

4. Monitoring Points:

• Timely filing of statutory accounts and confirmation statements to avoid regulatory penalties.
• Profitability trends and cash flow statements as they become available to assess ongoing debt servicing ability.
• Working capital ratios to ensure current liabilities remain covered by current assets.
• Sector risks including competition and consumer demand in the takeaway food market.
• Any changes in director or PSC status that could affect governance or control.