Company Number: 15128257

Analysis Date: 2025-07-20 12:31 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Horton & Harman Limited is a newly incorporated micro-entity (since September 2023) with minimal financial history. The latest accounts show a very modest net current asset position (£55) and shareholder funds (£55), indicating a very limited capital base. The company trades in specialised design activities and is operated by a sole director and shareholder, Mrs. Annabelle Rose Fudge-Harman, who also provides ongoing support. While the company currently meets filing deadlines and shows no adverse status, the absence of significant assets or operating history limits the creditworthiness. Approval for small credit facilities or trade credit could be considered, subject to ongoing monitoring and potential personal guarantees.

2. Financial Strength:
   The balance sheet reveals current assets of £1,714 against current liabilities of £1,659, resulting in net current assets of only £55. This indicates a very thin working capital buffer. No fixed assets or long-term liabilities are reported, consistent with a start-up micro business. Shareholder funds equal net assets at £55, reflecting initial capital injection or retained earnings. The micro-entity status limits disclosure detail, but the small equity base and minimal net assets suggest low financial strength and reliance on director support for liquidity.

3. Cash Flow Assessment:
   The company's current asset composition is not detailed but given the scale, cash and short-term receivables likely predominate. The near parity of current liabilities to current assets implies tight liquidity with little room for unexpected cash flow strain. The director’s confirmation of going concern status notes reliance on her support, indicating external funding or personal funds may be needed to meet obligations. Working capital is positive but marginal, implying limited ability to absorb delays in receivables or increased payables.

4. Monitoring Points:

• Track subsequent trading performance and growth in assets and equity through future accounts filings.
• Review cash flow statements if available to assess operating cash inflows and outflows.
• Monitor payment behavior and any increase in short-term liabilities or overdraft usage.
• Keep watch on director involvement and any additional capital injections or financing arrangements.
• Ensure continued timely submission of statutory filings to avoid compliance risks.