Company Number: 13528265

Analysis Date: 2025-07-29 15:42 UTC

1. Credit Opinion: APPROVE
   Access Fobs Limited demonstrates a solid financial position for a young SME in the retail trade of motor vehicle parts and accessories. The company has shown consistent growth in net assets and working capital over the past three years, with no overdue filings or signs of financial distress. Its liquidity position is comfortable, supported by a strong cash balance relative to liabilities. Management appears stable with directors directly involved and no adverse records. Given these factors, the company is assessed as capable of servicing credit facilities without undue risk.

2. Financial Strength:
   The balance sheet shows progressive improvement from July 2021 to July 2024. Shareholders’ funds nearly tripled from £8,703 to £23,218, reflecting retained earnings accumulation and positive business performance. Fixed assets are minimal (£266), indicating a low capital intensity business model, while current assets have doubled, driven largely by cash reserves increasing from £24,726 to £54,447. Current liabilities have also increased but remain well covered by current assets, resulting in a healthy net current asset position of £22,952 in 2024, up from £8,930 in 2021.

3. Cash Flow Assessment:
   The company’s liquidity is robust, with cash representing the majority of current assets. The cash-to-current liabilities ratio exceeds 1.5x, indicating strong short-term liquidity and the ability to meet immediate obligations. Positive net working capital trends suggest efficient management of receivables, payables, and inventory (stock at £4,000). The absence of audit requirements and small staff size (3 employees) further supports lean operational cash flow management.

4. Monitoring Points:

• Continue monitoring the growth trajectory in current liabilities to avoid any liquidity pressure as the business expands.
• Watch for any significant changes in stock levels that could tie up cash or indicate sales issues.
• Observe the directors’ ongoing involvement and any changes in control or management that could affect governance.
• Track profitability trends once income statements become available to validate sustained earnings capacity.