Company Number: 12926094

Analysis Date: 2025-07-20 14:27 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   ICC1860 LTD is a very small (micro entity) private limited company with minimal fixed and current assets, and a small net asset base of £2,104 as at 31 October 2023. The company’s current liabilities slightly exceed current assets in the latest year, indicating a minor working capital deficiency. While the company is not in liquidation and has no overdue filings, the limited scale of operations (no employees reported) and tight liquidity position suggest a cautious approach. Approval is conditional on further understanding the nature of cash flows and confirmation of ongoing business viability, given the slim financial buffer.

2. Financial Strength
   The balance sheet shows very limited fixed assets (£2,390) and a reduction in current assets from £30,651 in 2022 to £12,175 in 2023, with current liabilities reducing from £28,547 to £12,461. Net current assets moved from a positive £2,104 in 2022 to a small deficit of £286 in 2023. Net assets remain constant at £2,104, indicating no retained earnings or losses. The company has minimal equity and very limited capital, which constrains its ability to absorb financial shocks or fund expansion.

3. Cash Flow Assessment
   Current liabilities slightly exceed current assets, resulting in a small negative working capital position, which may impair the company’s ability to meet short-term obligations without additional financing or cash inflows. The absence of employees and limited asset base suggests low ongoing operational costs, but also limited cash generation capacity. No explicit cash or cash equivalents figure is available, so liquidity risk exists. Monitoring actual cash flow statements and payment patterns is recommended to assess ongoing debt service capacity.

4. Monitoring Points

• Track working capital and liquidity trends closely to ensure short-term obligations can be met.
• Monitor any changes in current liabilities and asset composition, particularly cash balances.
• Review directors’ reports or management commentary on business activity and future outlook.
• Watch for any late filings or indications of financial distress.
• Confirm ongoing business operations and revenue streams given the micro size and no reported employees.