Company Number: 13210351

Analysis Date: 2025-07-29 14:34 UTC

1. Risk Rating: MEDIUM

Justification: Netixo Ltd demonstrates positive net asset values and current assets exceeding current liabilities, indicating solvency. However, a significant reduction in cash and current assets from 2023 to 2024, alongside provisions for liabilities, warrants caution. The company’s financials are unaudited and limited in scope, reflecting a relatively small operation with two employees, which suggests some operational vulnerability.

2. Key Concerns:

• Sharp decline in cash and current assets from £276k to £107k and current liabilities from £56k to £1.8k between 2023 and 2024, which could indicate volatility in cash flows or a shift in working capital management.
• Presence of provisions for liabilities (£7.1k in 2024) which may represent contingent obligations or risks requiring further clarification.
• Unaudited accounts with limited disclosure on turnover and profitability as income statements are not filed, restricting insight into operational performance and sustainability.

3. Positive Indicators:

• Consistently positive net assets and shareholders’ funds over the years, indicating retained value and solvency.
• Current assets comfortably exceed current liabilities as of the latest accounts, implying good short-term liquidity.
• No overdue filings for accounts or confirmation statements, demonstrating compliance with regulatory requirements.
• Director in place since incorporation with clear accountability, and incorporation details are transparent.

4. Due Diligence Notes:

• Obtain full income statement and cash flow statement to assess operational profitability and cash flow stability.
• Investigate the nature and expected outflow related to provisions for liabilities.
• Review the reason for the significant decrease in cash and current assets between 2023 and 2024 to understand operational or financial changes.
• Confirm if external audit or further financial review is planned given the exemption status and limited disclosure.
• Assess contract pipeline and client base given the company’s SIC codes in specialised design, IT consultancy, and construction utilities to evaluate business sustainability.