Company Number: 13352878

Analysis Date: 2025-07-29 15:43 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Intellimar Ltd demonstrates modest but improving financial strength with positive net current assets and net equity growth. The company shows adequate liquidity and no overdue filings, which supports operational compliance. However, the significant director loan balance of £146,853 classified as current liability requires monitoring, as it represents a contingent repayment obligation that could impact cash flow under stress. Recommend approval subject to regular review of debtor collections and director loan arrangements.

2. Financial Strength:
   The company’s net assets increased from £101,579 in 2023 to £122,402 in 2024, reflecting retained earnings growth and a stable balance sheet. Current assets rose slightly to £303,120, supported by an increase in cash reserves to £103,978. Debtors decreased but remain a substantial portion of current assets at £199,142, which may indicate some collection risk. Current liabilities marginally decreased to £180,718, but the large sum owed to directors (£146,853) dominates this figure, highlighting reliance on related-party financing.

3. Cash Flow Assessment:
   With cash balances more than doubling year-on-year, liquidity appears strengthened, providing a buffer for short-term obligations. Net working capital is positive at £122,402, indicating the company can cover its current liabilities comfortably. However, a significant portion of current liabilities relates to director loans repayable within one year, which may pressure cash flow if demands for repayment arise. Trade creditors are minimal, suggesting good supplier payment terms.

4. Monitoring Points:

• Director loan balance and terms: Verify if repayment is planned or if it will remain rolled over, as repayment demand could impair liquidity.
• Debtor aging and cash collection efficiency: Continued improvement in debtor turnover will reduce credit risk.
• Profitability trends: Although profit and loss details are not disclosed, retained earnings growth suggests profitability; monitoring future P&L reports is vital.
• Compliance: Ensure ongoing timely filing of accounts and confirmation statements to avoid regulatory penalties.