Company Number: OC446566

Analysis Date: 2025-07-20 18:27 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Anglo Management Assets LLP is a newly incorporated entity (March 2023) with its first financial year ending March 2024. The LLP shows significant fixed assets (£6.98m) primarily in intangible assets (£3.6m) and investments (£3m), but has a negative net current asset position (£-1.7k) and negative reserves (£-407.8k). Shareholders funds are reported at £-407.8k, indicating initial accumulated losses or reserves deficit. The small current liabilities (£1.75k) and minimal cash (£7) indicate limited liquidity. The going concern basis is adopted by management with no audit requirement, but absence of profit and loss data limits assessment of operational profitability and cash generation. Directors are experienced individuals with significant control, suggesting stable governance. Given the asset base and no overdue filings, the credit risk is moderate but contingent on future cash flow improvements. Credit facility approval should be conditional on updated trading performance and cash flow forecasts.

2. Financial Strength:
   The LLP’s balance sheet is asset-heavy with £6.98m fixed assets, including intangible assets amortised over 10 years and investments in group undertakings. However, negative reserves and net current liabilities highlight initial losses or start-up costs absorbed in equity. The capital accounts of £7.38m reflect member contributions. The low current assets and minimal cash position point to tight liquidity. Overall, the balance sheet shows a reasonable asset base but weak working capital and equity deficit, typical for a start-up. Financial strength will depend on the realisation of intangible assets and successful operation of invested entities.

3. Cash Flow Assessment:
   Cash at period end is nominal (£7) with current liabilities just £1,750, leading to a net current liability position. No employees are reported, suggesting low operating overheads. The absence of an income statement in filings limits cash flow visibility, but related party transactions (£80,000 licence fees charged) indicate some income generation potential. Working capital is tight, implying limited buffer for short-term obligations. Monitoring liquidity closely is essential, and further evidence of cash inflows and operational cash generation is required for confident credit extension.

4. Monitoring Points:

• Future cash flow and liquidity position, including cash generation from invested entities.
• Profit and loss performance in subsequent periods to confirm operational viability.
• Amortisation and impairment of intangible assets and investment values.
• Changes in net current assets and member capital contributions.
• Any related party transactions and their impact on financial health.
• Compliance with filing deadlines and governance stability of designated members.