Company Number: 13173352

Analysis Date: 2025-07-20 14:18 UTC

1. Credit Opinion: APPROVE with caution. Flyabike Ltd is a micro-entity with modest but positive net assets and working capital, indicating they can meet short-term obligations. The company is relatively new (incorporated 2021) and has shown steady albeit minimal growth in net assets and net current assets over the last three years. No overdue filings and no evidence of financial distress strengthen the credit profile. However, the low absolute size of net assets (£924 at 31 March 2024) and tight current asset to liability margin suggest limited buffer for unexpected expenses or downturns. The company’s small scale and limited equity mean exposure to risk is higher than for more established or larger firms.

2. Financial Strength: The balance sheet reflects a micro-entity with net assets just under £1,000. Current assets increased from £8,352 in 2023 to £23,643 in 2024, mainly cash or equivalents, which is positive. Current liabilities rose similarly from £7,518 to £22,719, indicating increased short-term obligations that roughly match asset growth, resulting in a small net working capital of £924. The company does not hold fixed assets, and shareholders’ funds have increased slightly from £834 to £924, indicating minimal retained earnings or capital injections. Overall, the financial strength is weak but stable with no signs of insolvency.

3. Cash Flow Assessment: The company maintains a positive but very narrow working capital position, with current assets only slightly exceeding current liabilities. This suggests limited liquidity headroom and a need for careful cash flow management. The increase in current assets and liabilities year on year implies growing operational scale but also rising short-term obligations. With only two employees and no fixed assets, the company’s cash burn is likely low, but any delays in receivables or unexpected costs could strain liquidity. Absence of profit and loss data limits detailed cash flow analysis, but the positive net current assets indicate the company can currently meet short-term debts.

4. Monitoring Points:

• Close monitoring of liquidity ratios (current ratio, quick ratio) as the net current asset margin is very tight.
• Watch for any significant increases in current liabilities outpacing current assets.
• Monitor profitability and cash generation once profit and loss data becomes available to assess debt servicing capacity.
• Keep track of director’s conduct and operational continuity, as the company depends on a single director.
• Timely filing of future accounts and confirmation statements to avoid regulatory risk.