Company Number: 13552532

Analysis Date: 2025-07-20 14:07 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Nazira Ltd is a very small, single-director private limited company operating in the healthcare sector (other human health activities). The company shows positive net current assets and net equity, but these are very modest (£338 net assets in 2024, up from £198 in 2023). The company’s cash position has improved slightly but remains low (£2,592). Given the scale and limited financial buffer, the company can likely meet short-term obligations but has limited resilience to adverse events or increased borrowing. Credit approval is recommended on a conditional basis, with small credit limits and close ongoing monitoring due to the low asset base and thin working capital.

2. Financial Strength:

• Net assets and shareholder funds increased slightly from £198 in 2023 to £338 in 2024, showing minimal but positive retained earnings growth.
• Current liabilities almost doubled from £1,136 to £2,254, indicating some increased short-term obligations.
• Cash increased from £1,334 to £2,592, which partially offsets the rise in current liabilities but overall net current assets remain marginal (£338).
• The company has no fixed assets reported, indicating minimal long-term investment or collateral.
• The capital structure is simple: one director owning 100% of shares and voting rights, which suggests tight control but limited external capital.

3. Cash Flow Assessment:

• Cash balances are low but positive and have improved year-on-year.
• Net current assets remain positive but very low, indicating limited working capital cushion.
• The increase in current liabilities from £1,136 to £2,254 requires scrutiny to ensure these are not short-term pressures that could strain liquidity.
• The company employs only one person (the director), so payroll and overheads are likely minimal, reducing cash burn risk.
• No detailed cash flow statement is provided, so assumptions on operating cash flow quality cannot be fully assessed.

4. Monitoring Points:

• Watch for timely settlement of increasing current liabilities, especially "other creditors" which rose significantly (£364 to £2,064).
• Monitor cash flow closely to ensure liquidity remains positive.
• Track profitability and retained earnings growth since current equity levels are minimal.
• Observe any changes in director ownership or credit exposure.
• Review future filings for any sign of increased borrowing or delayed payment patterns.