Company Number: 14988277

Analysis Date: 2025-07-29 18:58 UTC

1. Credit Opinion: DECLINE. Corgi Limited is a newly incorporated micro-entity with minimal financial history and very limited net assets (£73). The company’s net current assets are positive but marginal (£877), and the accruals/deferred income of £804 significantly reduce net assets. With only one employee (the director) and no profit and loss account filed, there is no evidence of operational cash generation or profitability. The absence of an audit and limited financial disclosures reduce transparency. Given the early stage of the business, minimal equity, and lack of trading track record, extending credit would be highly risky without substantial guarantees or collateral.

2. Financial Strength: The balance sheet shows very limited financial strength. Current assets stand at £4,236 against current liabilities of £3,359, producing a small net working capital buffer (£877). After accounting for accruals and deferred income (£804), net assets are just £73, representing negligible shareholder equity. No fixed assets or long-term investments are reported. The company’s micro-entity status and early incorporation date limit its financial history. There is no retained earnings or reserves, signaling it is at a start-up phase with no accumulated profits to cushion potential losses.

3. Cash Flow Assessment: Liquidity is minimal but currently positive, with current assets slightly exceeding short-term liabilities. However, the small working capital of £877 and net assets of £73 indicate very limited flexibility to meet unexpected expenses or absorb cash flow shocks. The lack of a profit and loss statement or cash flow statement prevents assessment of operating cash generation or sustainability. With only one employee, likely the director, cash flow depends heavily on shareholder funding or rapid business growth, both unproven at this stage.

4. Monitoring Points:

• Monitor for timely filing of next accounts and confirmation statements to maintain transparency.
• Watch for improvements in net assets and working capital as trading history develops.
• Track any profit generation and cash flow statements in subsequent filings.
• Assess director’s ability to inject further capital if needed.
• Monitor any changes in business scale, employee count, or credit exposures that could impact liquidity.