NETIXO LTD

Executive Summary

Netixo Ltd is a relatively young private limited company with positive net asset position and sufficient liquidity as of the latest accounts. However, a notable reduction in cash balances and limited financial disclosure due to unaudited, exempted accounts present moderate risk concerns. Further examination of profitability, cash flows, and contingent liabilities is recommended to confirm operational stability and financial health.

NETIXO LTD - Analysis Report

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.