Company Number: 15219475

Analysis Date: 2025-07-29 12:58 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Fish & Co Properties Limited is a newly formed micro-entity (incorporated in October 2023) with minimal financial history. The latest accounts show very limited asset base (£1,576 fixed assets) balanced by equal short-term liabilities, resulting in negligible net assets (£1). The company has no significant working capital and only nominal current assets (£1), which raises concerns about liquidity and operational cash flow. Given the company is controlled by Fish & Co Limited (holding 75-100% ownership and voting rights) and has two directors with presumably aligned interests, it suggests some level of oversight and potential financial backing. However, the absence of trading history and the very thin balance sheet require caution. Credit approval can be considered if supported by additional security, guarantees, or evidence of forthcoming cash flow or capital injection.

2. Financial Strength:
   The balance sheet reflects a very early-stage micro company with fixed assets of £1,576 offset entirely by current liabilities of the same amount. Net current liabilities of £1,575 indicate no meaningful working capital buffer. Net assets and shareholders’ funds stand at a nominal £1, which is typical for a start-up entity. The financial position is fragile without retained earnings or reserves. No profit & loss data is available to assess earnings capacity. The company’s financial strength is currently weak and highly dependent on its parent company or external funding for sustainability.

3. Cash Flow Assessment:
   Current assets total £1, essentially cash or equivalents, against current liabilities of £1,576, indicating a negative working capital position. This suggests the company does not have sufficient liquid resources to meet short-term obligations without external support. No cash flow statements are provided, and given the short operating history, there is no evidence of operational cash generation. The company’s ability to service debt or meet payment commitments is therefore reliant on capital injections or related party support.

4. Monitoring Points:

• Monitor upcoming accounts filings for evidence of revenue generation or capital injections.
• Track liquidity ratios and working capital improvements to ensure operational cash flow support.
• Watch for any changes in the parent company’s financial health, as this entity appears reliant on Fish & Co Limited.
• Review director and shareholder activities for any changes in control or financial backing.
• Observe compliance with filing deadlines to avoid regulatory penalties and assess management effectiveness.