VISION PERFORMANCE OPTOMETRY LIMITED

Credit Opinion: DECLINE

The company is balance sheet insolvent, with net liabilities of £43,574 as at 30 June 2026 and negative shareholders’ funds. Current assets of £773 are insufficient to cover £44,347 of creditors falling due within one year. Net assets have deteriorated from a positive £1,000 position in prior years to a significant deficit over four years, and no profit and loss account has been filed to demonstrate operating cash generation. On the available evidence, the company lacks the financial capacity to service new debt obligations.

Financial Strength: Balance Sheet Health

• Net assets / shareholders’ funds: Negative £43,574 (2026), compared with negative £41,173 (2025), negative £22,796 (2024) and negative £6,869 (2023). The company moved from a small positive equity position (£1,000) between 2017 and 2022 to a deepening deficit.
• Total assets: Fell from £27,310 (2024) to £13,900 (2025) to £773 (2026). The balance sheet consists almost entirely of current assets; no fixed assets are disclosed.
• Liabilities: Creditors due within one year were £44,347 (2026) and £55,073 (2025). These exceed current assets by a wide margin.
• Ownership and control: A corporate entity, G T Harvey & Partners Limited, holds more than 75% of shares and voting rights and has the right to appoint and remove directors. Individual officers hold the remaining stakes. The accounts do not evidence any financial support or guarantee from the majority shareholder.
• Filing status: Accounts and confirmation statement are currently up to date. Accounts are unaudited and prepared under the micro-entity regime (FRS 105).

Cash Flow Assessment: Liquidity and Working Capital

• Working capital: Deeply negative at £43,574 (current assets of £773 less creditors of £44,347).
• Liquidity ratio: Current assets cover approximately 1.7% of short-term creditors, indicating no liquid buffer to meet obligations as they fall due.
• Cash flow visibility: The director elected not to file a profit and loss account, so there is no disclosed operating profit, EBITDA or cash flow from operations. Repayment capacity cannot be assessed from filed trading performance.
• Reliance: Continued operation appears dependent on creditor forbearance or shareholder support, neither of which is documented in the filed accounts.

Monitoring Points

• Composition of creditors: whether balances are trade creditors or connected-party loans, and whether any creditor enforcement action (CCJs, statutory demands, winding-up petitions) arises.
• Future annual accounts: further erosion of net assets, any return to positive equity, or evidence of shareholder funding.
• Confirmation statement and accounts remaining filed on time; any lapse would signal deteriorating compliance.
• Any change in dormant status or resumption of material trading activity, given the SIC classification of dormant company.
• Confirmation of ongoing financial backing from the majority shareholder, G T Harvey & Partners Limited, if credit were to be reconsidered.