Company Number: 14153114

Analysis Date: 2025-07-20 11:03 UTC

1. Credit Opinion: DECLINE
   Felis Construction Ltd is a very recently established micro-entity with minimal financial data and no recorded net assets or equity capital as of its first year end. The absence of any tangible net assets or shareholders’ funds, combined with a single employee and no audit or detailed financial disclosures, indicates insufficient financial substance to support credit facilities. The company shows no financial reserves or working capital buffer, which raises high credit risk given its early stage and lack of financial track record.

2. Financial Strength:
   The company reported zero net assets and zero shareholders’ funds at 30 June 2023. Total assets less current liabilities also stand at zero, meaning the balance sheet is effectively nil. This suggests no fixed or current assets have been acquired or retained, and no equity capital has been injected or accumulated profits retained. The micro-entity status limits disclosure but the bare-bones balance sheet demonstrates very weak financial strength with no cushion against operating or credit risks.

3. Cash Flow Assessment:
   Due to the absence of detailed profit and loss or cash flow statements, liquidity cannot be directly assessed. However, with only one employee and no recorded assets or capital, working capital is effectively non-existent. The company’s ability to generate positive cash flow or service debt is unproven. Early stage operations typically depend on founder funding or external finance, but no evidence is present here supporting sustainable liquidity or cash flow adequacy.

4. Monitoring Points:

• Track annual accounts for improvements in net assets and shareholders’ funds, indicating capital injection or profitability.
• Monitor cash flow statements when available to assess operational liquidity and ability to meet short-term obligations.
• Review filing timeliness and completeness to ensure regulatory compliance and transparency.
• Watch for any director changes or PSC disclosures that may impact company control or stability.
• Observe order book or contract wins disclosures, if any, to gauge revenue growth prospects.