Company Number: 12906977

Analysis Date: 2025-07-20 17:48 UTC

1. Credit Opinion: DECLINE
   With Global Ltd exhibits significant financial distress as reflected in its balance sheet. It shows net liabilities (negative net assets) of £412 at the latest year-end, worsening from £382 the prior year. The presence of creditors due after more than one year (£695k) with minimal current assets (£283) and net current assets also low indicates poor liquidity and an inability to cover near-term obligations. The company is micro-sized with only one employee, limiting operational scale and risk diversification. The negative equity position suggests erosion of shareholder funds and raises concerns about solvency and ongoing viability. Given these factors, the company lacks the financial strength and cash flow stability to comfortably service new credit facilities.

2. Financial Strength:
   The company’s balance sheet has deteriorated over recent years. Net assets have flipped negative (£-412k in 2024 vs. positive £382k in 2022), primarily due to rising long-term creditors (£695k). Current assets are minimal (£283), with current liabilities not explicitly stated for 2024 but net current assets still positive, suggesting some short-term liquidity. The absence of fixed assets and very small scale (micro-entity) means limited collateral value. Shareholders’ funds are negative, indicating that accumulated losses have exhausted equity. This weak financial position undermines the company’s capacity to withstand financial shocks.

3. Cash Flow Assessment:
   The micro-entity accounts show minimal current assets and rising creditors beyond one year, implying cash flow challenges. There is no detailed cash flow statement available, but the low working capital and negative net assets point to limited liquidity. With only one employee and presumably limited operational scale, cash generation from operations may be insufficient to meet creditor demands. The company’s ability to generate consistent positive cash flow to service debt is doubtful without external support or capital injection.

4. Monitoring Points:

• Track changes in long-term creditor balances and efforts to reduce or restructure debt.
• Monitor current assets and net current asset trends for improvements in liquidity.
• Review any cash flow statements or management commentary for operational cash generation.
• Assess changes in ownership or capital injections that could improve equity position.
• Watch for any director or management changes affecting strategic direction or financial discipline.