Company Number: 13763445

Analysis Date: 2025-07-20 18:35 UTC

1. Credit Opinion: DECLINE. Heimr Limited exhibits a very weak financial position with negative net assets amounting to £49,044 as of 30 November 2024. The company’s current liabilities (£153,452) significantly exceed its current assets (£48,427), resulting in a substantial negative working capital of £105,025. The sizeable director loan balance suggests reliance on related party funding rather than operational cash flow. Without positive cash generation or external equity injection, the company lacks capacity to service additional debt or meet short-term obligations reliably.

2. Financial Strength: The company’s balance sheet is fragile and deteriorated over the last year, moving from a small positive net asset position (£120) in 2023 to significant net liabilities in 2024. Fixed assets of £57,664 are overshadowed by high current liabilities, demonstrating poor liquidity management. Shareholder funds are negative, indicating erosion of equity base and financial distress. The company is classified as micro but with a business model dependent on real estate letting, which typically requires stable capital and liquidity buffers, currently absent.

3. Cash Flow Assessment: There is no evidence of positive cash or cash equivalents; the latest accounts report zero cash. The negative net current assets indicate an inability to cover short-term liabilities from current assets. The director loan of £153,452 is likely the primary source of funds, reflecting external borrowing rather than internal cash flow generation. The absence of employees and lack of operational cash inflows imply limited business activity and weak liquidity to support ongoing operations or debt repayment.

4. Monitoring Points:

• Monitor future filings for improvement in net current assets and net assets.
• Watch for repayment or refinancing of director loans to reduce related party exposure.
• Track cash flow statements if available to detect operational cash generation.
• Observe any changes in directors or PSCs that may indicate restructuring or new capital infusion.
• Review rental income stability and occupancy rates impacting revenue generation.