WORKWELL PEOPLE SOLUTIONS LIMITED
Company number 02407547 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Credit Analysis: WORKWELL PEOPLE SOLUTIONS LIMITED
1. Credit Opinion: DECLINE
This application must be declined. The company is currently in liquidation, which represents an absolute bar to credit extension. A liquidation filing indicates the company is undergoing formal closure with assets being realized for creditor distribution. No new credit facilities should be considered under these circumstances.
The recent rebrand from JSA SERVICES LIMITED (September 2024) alongside the liquidation status suggests potential financial distress rather than a strategic pivot. The overlapping PSC declarations—Goodman Family Investments Limited appears with both 50-75% and >75% ownership thresholds—may indicate ongoing corporate restructuring consistent with insolvency proceedings.
2. Financial Strength
Assessment: Unviable
The liquidation status renders balance sheet analysis moot. Key concerns:
- Share capital stands at only £153.80, indicating minimal equity cushion
- No financial statements are available in the data provided, preventing assessment of asset quality, leverage ratios, or tangible net worth
- Group structure filing category suggests subsidiary operations, which complicates creditor positions in liquidation
- The 35-year trading history (incorporated 1989) makes the liquidation particularly notable—this is not a failed startup but an established business entering insolvency
3. Cash Flow Assessment
Assessment: Cannot Service Obligations
- A company in liquidation has effectively ceased normal operations
- Cash flows, if any, are being directed toward the liquidator for creditor distribution according to statutory priority
- Working capital position is irrelevant—the business is not continuing as a going concern
- Any existing trade creditors will rank according to insolvency priority rules, likely receiving pennies on the pound
4. Monitoring Points
While credit is declined, the following should be tracked for exposure management:
| Metric | Rationale |
|---|---|
| Liquidation progress | Monitor for any recovery to creditors; confirm whether voluntary or compulsory |
| Connected party transactions | Goodman Family Investments and Jsa Newco may have preferential creditor positions |
| Director disqualification records | Should be checked for all current officers given the insolvency |
| Group entity exposures | Identify any sister companies that might assume trading activities |
| Phoenix risk | Watch for new entities acquiring the business assets/trade from the liquidator |
Director Note: Andrew Graham GOODMAN appears connected to the majority shareholder (Goodman Family Investments Limited). Standard insolvency investigation should assess any preferential transactions or wrongful trading prior to liquidation.