DELL SECURITY SOLUTIONS LTD

Executive Summary

Dell Security Solutions Ltd is an early-stage micro entity with modest financial resources and limited trading history. While its current liquidity position is adequate to support immediate operations, the company’s small net asset base and tight working capital margin warrant a cautious credit approach. Conditional credit approval is recommended, subject to ongoing monitoring of financial performance and cash flow management as the business develops.

DELL SECURITY SOLUTIONS LTD - Analysis Report

Company Number: 15267784

Analysis Date: 2025-07-29 15:31 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Dell Security Solutions Ltd is a newly incorporated private limited company (incorporated November 2023) with its first set of accounts filed to November 2024. The company operates in the security systems service industry (SIC 80200). Given its short trading history and modest financial base, credit approval is conditional pending further trading performance and financial data. The director and sole significant controller is Michael Brennan, which indicates centralized management but also concentration risk. There is no indication of director misconduct or adverse filings. The company’s ability to service debt is currently limited by its small asset base and working capital, but it shows positive net current assets.

2. Financial Strength:
   At 30 November 2024, the company reported:

• Current assets of £48.5k (including cash of £41.6k and debtors £6.9k)
• Current liabilities of £45.6k
• Net current assets of £2.9k
• Net assets/shareholders funds of £2.9k (reflecting initial capital and retained earnings)
  The balance sheet is very modest, consistent with its micro-entity status and early stage. The slight positive net current assets indicate minimal buffer for liquidity shocks. The company’s fixed assets are not disclosed but appear negligible or zero. Overall, the financial position is fragile but not negative.

3. Cash Flow Assessment:
   Cash at bank is £41.6k, which is a relatively healthy proportion of current assets, providing immediate liquidity. However, current liabilities nearly match current assets, leaving only a small working capital margin (£2.9k). Debtor levels are low, suggesting limited credit exposure to customers so far. The small working capital buffer means the company must carefully manage cash flow cycles, particularly as it grows. No long-term borrowings or contingent liabilities are reported, which reduces immediate cash flow pressure. The company’s liquidity should be monitored closely as operations scale.

4. Monitoring Points:

• Trading performance and profitability trends in subsequent accounting periods, to assess growth and ability to generate sustainable cash flows.
• Working capital changes, especially receivables and payables turnover, to ensure liquidity remains adequate.
• Any additional borrowings or credit facilities sought, and their impact on gearing and interest coverage.
• Director and management actions, including governance and transparency, given the single director/owner structure.
• Timeliness and quality of future financial reporting and returns filings.