Company Number: 15146125

Analysis Date: 2025-07-29 16:39 UTC

1. Risk Rating: MEDIUM
   Justification: NOAR CONSTRUCTION LTD is a newly incorporated entity (September 2023) with limited operating history and modest financial resources. Its net assets of approximately £18k and current liabilities of similar magnitude indicate a tight balance sheet. The existence of creditors due after one year (£18,281) suggests some longer-term obligations that could pressure liquidity. However, the company is currently solvent with positive net assets and no overdue filings, supporting a medium risk classification.

2. Key Concerns:

• Limited Operating History: Incorporated less than one year ago, there is insufficient track record to assess operational stability and cash flow consistency.
• Tight Working Capital Position: Current liabilities (£18,281) slightly exceed current assets (cash £17,857), implying constrained liquidity which could challenge meeting short-term obligations.
• Long-Term Creditors: Amounts falling due after more than one year (£18,281) represent non-trivial debt for a micro-sized start-up, raising questions about repayment capacity and financing terms.

3. Positive Indicators:

• Compliance and Governance: Accounts and confirmation statement filings are up to date with no overdue returns or penalties reported.
• Sufficient Equity Base for Size: Shareholders’ funds of £17,851 are modest but positive, indicating some capital buffer.
• Single Owner-Director Control: Clear ownership and control by Mr Nuredin Vokrri may facilitate agile decision-making and operational oversight.

4. Due Diligence Notes:

• Verify the terms and nature of creditors due after one year, including interest rates, repayment schedules, and any covenants.
• Review cash flow forecasts and bank statements to assess liquidity trends beyond the balance sheet snapshot.
• Obtain details on contracts or revenue pipeline to evaluate business sustainability and growth prospects in roofing and plumbing services.
• Confirm absence of director disqualifications or regulatory issues given sole director status.
• Understand the reason for the opted exemption from audit and implications for financial transparency.