Company Number: 13528568

Analysis Date: 2025-07-29 14:35 UTC

1. Credit Opinion: DECLINE
   YE OLD SHIP LIMITED exhibits a concerning deteriorating financial position with negative net assets of £133,039 as at 31 July 2024, worsening from a negative £50,458 the previous year. The company’s current liabilities have nearly doubled from £87,748 to £165,248 while current assets have declined, resulting in a substantial negative net current asset position of £146,382. This indicates an inability to cover short-term obligations from current assets. Despite being active with no overdue filings, the weak balance sheet and liquidity position raise serious doubts about the company’s capacity to service additional debt or credit facilities.

2. Financial Strength:
   The company is classified as a micro-entity with minimal fixed assets (£13,343) and a small workforce (5 employees). The balance sheet has moved from a marginally positive net asset position in 2021 (£6,018) to a significant negative net asset position by 2024 (£-133,039). This rapid decline suggests losses have been incurred or liabilities increased without corresponding asset growth. The shareholders’ funds are entirely negative, reflecting accumulated losses or unaddressed liabilities, which compromises financial resilience.

3. Cash Flow Assessment:
   Current liabilities have risen sharply, while current assets have decreased over the last year, resulting in a negative working capital of £146,382. This negative working capital implies immediate cash flow strain and potential liquidity issues. The company’s ability to meet short-term creditors and operational expenses from liquid resources is questionable, increasing the risk of payment delays or default. No audit available and limited disclosures restrict deeper cash flow analysis, but the presented data signals weak liquidity management.

4. Monitoring Points:

• Monitor changes in current liabilities and current assets for any improvement or further deterioration in working capital.
• Watch for timely filing of future accounts and confirmation statements to ensure ongoing regulatory compliance.
• Observe profitability trends or capital injections that could restore positive net assets.
• Keep track of director actions or strategic changes to improve financial health, including refinancing or restructuring efforts.
• Review any related party transactions or shareholder funding given 100% ownership by the director.