Company Number: 13170656

Analysis Date: 2025-07-19 12:14 UTC

1. Credit Opinion: DECLINE
   ANPASCA LTD demonstrates a significantly negative net asset position when considering creditors due after more than one year (£15,925), resulting in total net liabilities of £15,882 at the 2024 year-end. The company's persistent net current asset deficit and accumulated losses indicate weak financial stability and a concerning inability to cover long-term obligations from current assets. The lack of employees and minimal current assets (£43) further limit operational capacity and cash flow generation. Given these financial indicators and absence of evidence of profitability or growth, the company does not present a reliable credit risk.

2. Financial Strength:
   The balance sheet reveals a micro-entity with very limited tangible assets and a negative equity position after accounting for long-term creditors. Shareholders' funds have deteriorated from a positive £2,552 in 2021 to a negative £15,882 in 2024, reflecting accumulated losses or long-term obligations exceeding assets. The company’s net current assets have collapsed from £24,530 to just £43, indicating a severe working capital squeeze. This suggests a fragile financial structure with insufficient capital buffers to absorb shocks or support expansion.

3. Cash Flow Assessment:
   Current assets are negligible (£43), and with current liabilities not explicitly detailed but presumably minimal, liquidity appears critically constrained. The absence of employees hints at limited or no operational activity generating cash inflows. The company relies likely on external financing or director funding to meet obligations, as indicated by significant creditors due after one year. Working capital management is poor, and cash flow generation capacity is virtually non-existent, raising high risk for missed payments or defaults.

4. Monitoring Points:

• Track changes in net current assets and liquidity position in future filings.
• Monitor any reduction in long-term creditor balances or improvement in equity through retained earnings.
• Observe introduction of operational employees or evidence of revenue generation to assess business activity.
• Watch for timely filing of accounts and confirmation statements to ensure regulatory compliance.
• Review any director loans or related party transactions that may affect financial stability.