HARGAN MARINE SERVICES LTD

Executive Summary

Hargan Marine Services Ltd is a newly incorporated micro-entity with a small but positive net asset base and no employees, indicating an early-stage business with limited financial history. The sole director’s industry experience and positive working capital support credit approval with prudent exposure. Ongoing monitoring of operational progress and liquidity metrics is recommended to manage credit risk effectively.

HARGAN MARINE SERVICES LTD - Analysis Report

Company Number: NI684520

Analysis Date: 2025-07-29 20:42 UTC

1. Credit Opinion: APPROVE with caution. Hargan Marine Services Ltd is a micro-entity operating in sea and coastal freight water transport, with a very modest balance sheet and no employees as of the last accounts filing. The company shows positive net current assets and shareholders’ funds, indicating a basic level of financial stability. However, the limited financial data (only one year of accounts available) and very small asset base suggest the business is in an early stage with limited trading history. The director is also the sole owner and has relevant industry experience, which supports operational oversight. Credit exposure should be limited and monitored closely.

2. Financial Strength: The balance sheet as of 31 December 2022 shows no fixed assets and current assets of £8,177 against current liabilities of £4,497, resulting in net current assets of £3,680. Shareholders’ funds equal net assets at £3,680, reflecting the capital invested by the sole director. The company’s micro-entity status means limited filing obligations, but the small equity base and absence of fixed assets indicate low financial buffer. The company’s financial strength is modest, appropriate for a start-up with no employees and limited operational scale.

3. Cash Flow Assessment: Current assets consist largely of cash or equivalents and possibly debtors, with current liabilities under £4,500. Positive net current assets indicate the company can cover short-term obligations from available liquid resources. However, the absence of employees and fixed assets suggests minimal operating activity or capital investment to date. Cash flow is likely limited but sufficient to meet immediate liabilities. Monitoring future cash flow from operations and working capital changes will be critical as the business grows.

4. Monitoring Points:

• Future accounts filings: Watch for revenue growth, profitability, and expansion of asset base.
• Working capital trends: Ensure current assets continue to exceed current liabilities.
• Director’s continued involvement and any changes in ownership or control.
• Any increase in liabilities or overdrafts that could strain liquidity.
• Emergence of trade creditors or borrowing that may impact credit risk.
• Impact of external economic conditions on marine freight transport sector.