Company Number: 14937348

Analysis Date: 2025-07-20 11:13 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   GO DEV LIMITED is a newly incorporated software development company (since June 2023) with modest asset and equity bases. The latest accounts reveal a very thin net asset position (£276) and negative working capital (£-19,279), indicating short-term liquidity pressures. However, there is no overdue filing and the directors affirm a going concern basis, suggesting management confidence. Extension of credit could be considered if supported by strong cash flow forecasts or additional security, but the current financials warrant caution.

2. Financial Strength:
   The company’s balance sheet shows minimal fixed assets (£19,555 net book value) and cash reserves of £22,131 as of March 2025. Current liabilities (£51,412) exceed current assets (£32,133), leading to a negative net working capital position which indicates potential liquidity strain. Shareholders’ funds are negligible (£276), reflecting limited retained earnings or capital injection to date. The company is very small with 6 employees and is classified under the small company exemption regime.

3. Cash Flow Assessment:
   Cash reserves have decreased significantly from £43,317 in March 2024 to £22,131 in March 2025, indicating cash burn during the year. Debtor balances are modest at £10,002. Negative net current assets suggest that the company may face difficulties meeting short-term obligations without additional funding or improved collections. The company’s cash flow sustainability requires close monitoring. The directors’ declaration of going concern implies expected future cash inflows sufficient to cover liabilities.

4. Monitoring Points:

• Track liquidity ratios quarterly, especially current ratio and cash runway.
• Review turnover growth and profitability trends in subsequent filings to assess improvement in financial stability.
• Monitor any increases in creditors or delayed payments that may stress working capital further.
• Assess management actions on working capital management and capital injections.
• Watch for any director changes or adverse credit events.