Company Number: 14774662

Analysis Date: 2025-07-29 20:52 UTC

1. Credit Opinion: APPROVE with conditions
   IGLO COMPUTING LTD is a newly incorporated micro-entity showing a small but positive profit (£5,918) and net assets of £3,918 after its first 13-month trading period. The company’s turnover (£11,589) is modest, consistent with its micro category, and it maintains positive net current assets indicating working capital sufficiency. However, given its very early stage of trading, limited turnover, and no employees, credit exposure should be limited and closely monitored. Approval is recommended for modest credit facilities with careful attention to ongoing trading performance and cash flow.

2. Financial Strength:
   The company has a clean balance sheet with only current assets (£5,306) and minimal current liabilities (£1,388), resulting in positive net current assets (£3,918) and shareholders’ funds of the same amount. There are no long-term liabilities or fixed assets reported, reflecting its startup stage. The absence of debt and accumulation of positive equity suggest a sound initial financial footing but not yet tested by scale or volatility.

3. Cash Flow Assessment:
   Current assets exceeding current liabilities indicates adequate liquidity to meet short-term obligations. However, the small scale of operations and absence of reported cash flow statements mean liquidity should be monitored carefully. The company has no employees, limiting fixed overheads but also raising questions about operational scalability and revenue generation capacity. Working capital is positive but limited in absolute terms.

4. Monitoring Points:

• Revenue growth trajectory and margin stability as the company moves beyond startup phase.
• Cash flow trends, especially operating cash generation and ability to fund working capital needs internally.
• Changes in current liabilities levels and any increased gearing or borrowing.
• Management of expenses relative to turnover to maintain profitability.
• Any changes in director or PSC structure that might affect governance or control.