Company Number: 13625433

Analysis Date: 2025-07-29 13:35 UTC

1. Credit Opinion:
   CONDITIONAL APPROVAL. JUST FIRST TRANSPORT LTD is a micro private limited company operating in freight transport by road, with a short trading history since incorporation in 2021. The company demonstrates positive net assets and net current assets, indicating a basic level of financial stability. However, the significant decline in net assets from £8,570 in 2023 to £3,263 in 2024 raises concerns about recent profitability or asset deterioration. Given the small scale and limited financial data, credit exposure should be limited and monitored closely.

2. Financial Strength:
   The balance sheet shows a modest asset base with current assets of £14,100 against current liabilities of £10,837 as of September 2024, producing net current assets of £3,263. The equity (shareholders’ funds) has eroded considerably from £8,570 the previous year, signaling either losses or withdrawals. The company operates with minimal fixed assets or long-term investments (not explicitly stated but implied by micro entity filings). The small scale and declining equity suggest limited capacity to absorb shocks or fund expansion internally.

3. Cash Flow Assessment:
   Working capital remains positive but has declined sharply, which may indicate tightening liquidity. The company must maintain sufficient cash flow to meet short-term obligations given liabilities nearing £11k. With only one employee and presumably limited overhead, cash burn might be low, but the drop in net current assets is a warning sign. No profit & loss data is provided, but the reduction in net assets points towards possible operational losses or increased liabilities in the last year.

4. Monitoring Points:

• Track quarterly cash flow and working capital trends to ensure liquidity sufficiency.
• Review forthcoming full accounts including profit & loss to ascertain profitability and cash generation.
• Monitor creditor payment patterns and any increases in short-term liabilities.
• Watch for any changes in business scale or asset base that might affect financial stability.
• Assess director financial management, especially given the equity erosion in a short timeframe.