BRITE SPACES LTD

Executive Summary

BRITE SPACES LTD is an early-stage company with weak financial indicators including negative net assets and insufficient liquidity. The lack of trading history and working capital deficit limit its capacity to service debt obligations. Credit approval is not recommended until the company demonstrates improved financial stability and operational progress.

BRITE SPACES LTD - Analysis Report

Company Number: 15400774

Analysis Date: 2025-07-29 16:04 UTC

1. Credit Opinion:
   DECLINE. BRITE SPACES LTD is a newly incorporated private limited company with no trading history beyond its first reporting period ending January 2025. The company shows net current liabilities of £757 and negative shareholders' funds of £759, indicating an initial capital deficiency and weak financial footing. The absence of trading activity or revenue figures, combined with negative equity and current liabilities exceeding cash, raises significant concerns about its capacity to meet short-term obligations and service any credit facilities. The sole director holds 75-100% control, but there is no evidence of financial strength or operational traction to support credit extension at this stage.

2. Financial Strength:
   The balance sheet reveals minimal current assets (£541 cash) against current liabilities of £1,298, resulting in a working capital deficit of £757. Net assets and shareholders’ funds are negative by the same amount, reflecting accumulated losses or start-up expenses not offset by equity injections beyond nominal share capital of £2. The absence of fixed assets and lack of turnover data suggest the company has yet to establish revenue streams or build asset backing. Overall, the financial position is weak with insufficient resources to absorb liabilities or fund operations without additional capital.

3. Cash Flow Assessment:
   With only £541 in cash and current liabilities more than double this figure, liquidity is inadequate to cover immediate obligations. The company employs no staff and likely has limited operating expenses at this stage; however, the working capital deficit highlights a need for cash injections or credit support to maintain solvency. No information on cash flow from operations or external financing is available, but the current state suggests negative cash flow and dependence on director funding or third-party capital.

4. Monitoring Points:

• Track future filings for evidence of revenue generation and profitability improvements.
• Monitor cash balances and current liabilities for signs of improved liquidity and working capital management.
• Watch for any director or shareholder capital injections that strengthen equity.
• Review any changes in credit terms or new credit facilities granted.
• Observe director conduct and company status for signs of financial distress or restructuring.