IBEX GRIPS LTD

Executive Summary

IBEX GRIPS LTD is a newly formed dormant company with no trading history and minimal financial substance. Its current financial position is insufficient to support credit facilities, and it lacks cash flow to service debt. Credit approval is not recommended until trading accounts demonstrate operational viability and financial strength.

IBEX GRIPS LTD - Analysis Report

Company Number: 15025557

Analysis Date: 2025-07-29 12:57 UTC

1. Credit Opinion: DECLINE
   IBEX GRIPS LTD is a newly incorporated company (since July 2023) and has filed dormant accounts for its first financial year ending July 2024. It shows minimal financial activity with net assets of only £1 and cash of £1, indicating no operating history or trading performance. There is no evidence of revenue generation, profitability, or cash flow from operations. As such, the company currently lacks the financial substance or track record to reliably service any credit facility. Without trading history or financial performance data, the credit risk is high and approval for lending is not advisable at this stage.

2. Financial Strength:
   The balance sheet is very limited, showing only a nominal amount of cash and shareholders’ funds (£1 each). Being dormant, the company has no fixed or current assets, no liabilities, and no retained earnings. This minimal equity base and absence of operational assets indicate very weak financial strength. The company’s financial position cannot support debt obligations or absorb any financial shocks.

3. Cash Flow Assessment:
   Cash at bank is £1, effectively indicating no liquidity or working capital. No trading or cash inflows are reported. The company has no current assets or liabilities, and no cash flow from operations. This position means it cannot meet cash requirements for debt service, supplier payments, or other operational costs. The absence of cash flow data makes it impossible to assess liquidity risk positively.

4. Monitoring Points:

• Monitor for the filing of the first trading accounts after commencement of business activity to evaluate revenue, profitability, and cash generation.
• Review any material changes in net assets, working capital, and cash balances to assess emerging financial strength.
• Track director and shareholder activity for capital injections or changes that might improve financial position.
• Watch for any loans or credit facilities applied for or granted to assess repayment performance.