Company Number: 15112903

Analysis Date: 2025-07-20 14:27 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Cyphia Ltd is a recently incorporated micro-entity with limited financial history and modest net assets of £1,398. The company shows positive net current assets, indicating short-term solvency, but its scale and financial resources are minimal. Given the lack of trading history and limited working capital, credit facilities should be extended cautiously and ideally with conditions such as low exposure limits or personal guarantees from the 100% shareholder/director. The single director’s full control is a positive governance sign but also concentrates risk.

2. Financial Strength:
   The balance sheet shows total current assets of £3,711 against current liabilities of £2,313, resulting in net current assets of £1,398 and net assets of the same value. The company holds no fixed assets and has minimal equity, reflecting a start-up stage with limited capitalization. There are no indications of long-term liabilities or debt, which reduces financial risk but also suggests limited capital for growth or downturn resilience.

3. Cash Flow Assessment:
   The net current assets position signals that the company currently maintains positive working capital, which supports short-term liquidity. However, the absolute cash and asset base is very small, placing constraints on operational flexibility. With only one employee (the director), overheads are likely low but cash flow cycles and revenue generation data are absent, necessitating monitoring of incoming cash and payables closely.

4. Monitoring Points:

• Quarterly review of cash flow statements and bank balances to verify liquidity
• Timely filing of next annual accounts and confirmation statements to ensure compliance
• Watch for any increase in current liabilities which could strain working capital
• Assess any changes in ownership or director appointments that could affect control or governance
• Monitor business activities given SIC codes in regulation and risk evaluation sectors, which may have variable cash demands and risk exposures