Company Number: 14501055

Analysis Date: 2025-07-29 12:33 UTC

1. Credit Opinion: APPROVE
   Beljis Limited is a newly incorporated private limited company (since late 2022) operating in retail (SIC 47190). The company filed its first full-year accounts timely with no overdue filings. The financial position is currently very strong, with net current assets of £984k and shareholders' funds matching this amount. There is no debt recorded, implying no current leverage or repayment risk. Given the company's early stage, lack of historical trading data is a limitation, but its strong balance sheet and clean compliance history support a low-risk credit profile. Credit can be approved with standard monitoring due to limited operating history.

2. Financial Strength:
   The company’s balance sheet shows total current assets of £984,329 consisting almost entirely of stock (£983,788) and negligible cash (£541). No fixed assets or liabilities are reported, resulting in net assets equal to current assets, indicating a strong liquidity position on paper. Shareholders’ funds of £984,329 reflect accumulated reserves, likely capital contributions or initial investment rather than trading profits, given the short operating period and no reported turnover or P&L activity. The absence of liabilities means no financial gearing and minimal solvency risk at this stage.

3. Cash Flow Assessment:
   Cash on hand is minimal (£541), but working capital is robust due to the large stock holding. This stock represents a significant current asset but also a liquidity risk if it cannot be converted to cash quickly. The company’s ability to generate operational cash flows is untested and must be monitored. The reliance on stock as the main current asset requires attention to inventory turnover and management efficiency. No short-term liabilities ease pressure on immediate cash outflows.

4. Monitoring Points:

• Progression of sales and operational cash flows to verify that stock is being converted into revenue and cash.
• Inventory turnover ratios to assess stock management and liquidity risk.
• Timely filing of next accounts and confirmation statements to maintain compliance.
• Any changes in director or ownership structure that may impact governance or control.
• Emerging liabilities or borrowings which may alter the risk profile.