Company Number: 13159236

Analysis Date: 2025-07-20 11:44 UTC

1. Credit Opinion: APPROVE
   INVEON LTD demonstrates a solid and improving financial position with strong net current assets and positive net assets growth over the past years. The company operates in the management and IT consultancy sector, which generally exhibits steady demand. No overdue filings or compliance issues indicate responsible management. The liquidity position and working capital levels suggest the company can meet short-term obligations comfortably. While the company is relatively young (incorporated 2021), the upward trend in net assets and maintained cash reserves support the approval for credit facilities without conditions.

2. Financial Strength:
   The balance sheet shows a healthy increase in net assets from £148k in 2021 to £649k in 2024, reflecting retained earnings growth and capital preservation. Fixed assets decreased slightly but remain stable at approximately £75k, mostly tangible assets net of depreciation. Current assets have grown significantly to £748k driven by increased cash (£319k) and debtors (£197k), indicative of growing business activity. Current liabilities have increased but remain well covered by current assets, resulting in a strong net current asset position of £643k. The company maintains a modest level of long-term liabilities (£59k) and provisions (£10k), which appear manageable relative to overall finances.

3. Cash Flow Assessment:
   Cash balances are robust at £319k, although slightly down from the prior year’s £382k, possibly due to investment in working capital such as increased stock (£232k). Debtor days appear consistent with the business scale, and liquidity ratios suggest sufficient short-term resources to cover liabilities (£105k current). The net current assets position implies good working capital management, reducing liquidity risk. The company’s ability to generate cash internally seems stable, supported by growing retained earnings and positive net asset trends.

4. Monitoring Points:

• Monitor debtor collection periods and stock turnover to ensure working capital efficiency, given the increase in stock levels.
• Track profitability and cash flow trends as the company matures beyond its early years to confirm sustainability of growth.
• Watch any changes in long-term liabilities and provisions for potential impact on solvency.
• Observe sector-specific risks in consultancy services that could affect revenue streams during economic downturns.
• Ensure continued compliance with filing deadlines and governance standards.