Company Number: 12589285

Analysis Date: 2025-07-20 15:07 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   BEXY LTD is a micro-entity operating in the retail sale of mobile telephones with modest financial resources. The company shows positive net current assets and net assets, indicating a workable level of short-term liquidity and a positive equity position. However, the absolute amounts are very low (£1,406 net assets as of May 2024), reflecting a fragile financial base. The company is active, compliant with filing deadlines, and managed by a single director with significant control. Approval is recommended on a conditional basis, with limits on credit exposure and close monitoring of liquidity and profitability.

2. Financial Strength:
   The balance sheet reveals a stable but minimal equity base, increasing slightly from £603 in 2020 to £1,406 in 2024. Current assets increased from £13,154 in 2023 to £17,271 in 2024, while current liabilities also rose from £11,623 to £15,865. This yields a small net current asset buffer (~£1,400), indicating limited working capital. There are no fixed assets or long-term liabilities reported, typical for a micro retail business. Overall, the financial strength is weak but not deteriorating, with no signs of insolvency.

3. Cash Flow Assessment:
   Net current assets remain positive but very slim, pointing to tight liquidity. The company employs one person on average, suggesting low operating overhead. However, the increase in current liabilities outpaced increases in current assets in the latest year, which could pressure short-term cash flow. Without detailed cash flow statements, it is prudent to assume working capital management is critical. The company’s ability to meet short-term obligations depends on timely collections and inventory turnover.

4. Monitoring Points:

• Working capital trends: Watch for any decline in net current assets or rising short-term liabilities relative to assets.
• Profitability indicators (if available): To assess ability to build equity and pay down liabilities.
• Director’s conduct and continued active management by Mr Mohammed Anjam Tariq.
• Timely submission of accounts and confirmation statements to avoid compliance issues.
• Any material changes in business activity or market conditions affecting retail mobile sales.