Company Number: 12428093

Analysis Date: 2025-07-20 19:04 UTC

1. Risk Rating: MEDIUM
   Justification: MINICO LIMITED shows a positive net asset position (£60,597) and net current assets (£103,776) as of January 2024, indicating solvency. However, the presence of long-term creditors of £185,230 and relatively low share capital (£100) introduce some leverage and financial risk that warrant caution. The company is micro-entity sized, which limits financial disclosure detail and reduces visibility into profitability and cash flow.

2. Key Concerns:

• Long-term liabilities of £185,230 remain constant over multiple years without clear repayment progress, suggesting potential debt servicing pressure.
• Current liabilities (~£25,832) relative to current assets (~£129,608) show comfortable short-term liquidity but the company's reliance on creditors may impact operational flexibility.
• Limited disclosure of profit & loss, cash flow, or revenue data restricts assessment of operational performance and sustainability.

3. Positive Indicators:

• Consistent growth in fixed assets from £126,961 (2022/23) to £142,051 (2023/24) suggests ongoing investment in operational capacity.
• Net assets and shareholders’ funds have increased steadily from £10,580 in 2020 to £60,597 in 2024, indicating retained earnings or equity injections.
• The company remains compliant with filing deadlines, with no overdue accounts or confirmation statements, reflecting good governance practices.

4. Due Diligence Notes:

• Obtain detailed profit and loss statements and cash flow data to evaluate profitability trends and liquidity beyond balance sheet snapshots.
• Clarify the nature and terms of the £185,230 long-term liabilities, including repayment schedules and covenants.
• Investigate the business model sustainability and market position within the take-away food sector (SIC 56103), including customer base and competitive landscape.
• Review director and PSC background for any governance or compliance concerns beyond the available data (director appears stable and resident locally).