...so it's only me who finds the cash at bank and net cash figures in the statement to be incredibly alarming?
Making a profit does not necessarily mean that you have a reasonable level of cash in the business - you can be profitable and still run out of cash.
If I'm reading today's announcement correctly, it says that they had cash of £400,000 in the bank at the end of September. OK, borrowings have been significantly reduced versus last year, but cash has still fallen from £4m this time last year to £0.4m this year. Not good, particularly in an environment where you can't readily borrow money if you need it.