INCUBIQ LIMITED
Company number 05197624 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Credit Assessment: INCUBIQ LIMITED (05197624)
1. Credit Opinion: DECLINE
Reasoning: This company presents an unacceptable credit risk for any commercial facility. INCUBIQ LIMITED is classified as a non-trading company (SIC 74990) with zero revenue-generating operations, zero employees, and a persistently insolvent balance sheet. The company has carried net liabilities of £64,753 for at least seven consecutive years with no visible means of debt service. There is no cash generation, no working capital, and no operational activity to support repayment of any credit facility.
2. Financial Strength
Balance sheet is critically impaired:
| Metric | FY2024 | FY2023 |
|---|---|---|
| Fixed Assets | £7,680 | £7,680 |
| Current Assets | £0 | £0 |
| Current Liabilities | (£72,433) | (£72,433) |
| Net Current Liabilities | (£72,433) | (£72,433) |
| Net Liabilities | (£64,753) | (£64,753) |
| Shareholders' Funds | (£64,753) | (£64,753) |
Key concerns:
- Insolvent position: Net liabilities of £64,753 have remained static since at least FY2017, indicating the company has made no progress toward restoring solvency
- No current assets: Zero cash, debtors, or stock — the company holds only £7,680 in fixed assets against £72,433 in current liabilities
- No revenue generation: As a non-trading entity with zero employees, there is no trading income to service obligations
- Stagnant financials: Identical balance sheet figures across multiple years confirm complete operational dormancy
- Negative equity: Shareholders' funds are deeply negative with no evidence of capital injection or restructuring
3. Cash Flow Assessment
No cash flow exists to evaluate.
- Zero operating cash flow: The company has no trading activity, no turnover, and no employees
- No working capital: Current assets are nil against £72,433 in current liabilities — a current ratio of 0.0x
- No liquidity: Absence of any cash or near-cash assets means the company cannot meet any financial obligations as they fall due
- Creditor position unclear: The £72,433 in creditors due within one year has remained unchanged for years, suggesting these may be related-party balances or dormant liabilities, but this cannot be confirmed from micro-entity accounts
- No debt service capacity: Without revenue or cash generation, the company has zero ability to service new or existing debt
4. Monitoring Points
Should any existing exposure exist or circumstances change, the following require attention:
| Metric | Risk Level | Notes |
|---|---|---|
| Net liabilities | Critical | Persistent insolvency with no improvement trajectory |
| Trading status | Critical | Non-trading classification with zero operational activity |
| Creditor composition | High | £72,433 owed — nature and related-party status unknown from micro-entity filings |
| Fixed asset quality | High | £7,680 in fixed assets — unverified realisable value |
| Director activity | High | Sole director with PSC control; no evidence of active management |
| Filing compliance | Low | Accounts and confirmation statement filed on time |
| Financial movement | Critical | Any change in the static balance sheet figures would warrant immediate review |
Additional concerns: - Micro-entity accounts provide minimal disclosure — no P&L, no cash flow statement, no notes on creditor composition - The nature of the £72,433 liability is unclear — whether related-party, statutory, or trade creditors cannot be determined - Fixed assets of £7,680 have not depreciated over multiple years, raising questions about valuation and classification - No evidence of any business plan, restructuring, or capital injection to address the insolvent position