NOIR GROUP LTD

Executive Summary

NOIR GROUP LTD is a small, active construction company with a stable balance sheet and positive working capital. While financial scale is modest, the company has shown growth in net assets and employees, indicating operational progress. Credit approval is recommended with caution and regular monitoring of liquidity and profitability metrics due to the business’s micro-entity status and sector risks.

NOIR GROUP LTD - Analysis Report

Company Number: 12591159

Analysis Date: 2025-07-29 14:16 UTC

1. Credit Opinion: APPROVE with monitoring.
   NOIR GROUP LTD demonstrates a stable balance sheet with positive net current assets and net assets (£30,307 as of 31 May 2024). The company is active, with no overdue filings, and shows a modest increase in workforce, indicating some growth. However, as a micro-entity in a highly competitive construction sector with small absolute financial scale, ongoing monitoring of cash flow and profitability is essential before extending significant credit.

2. Financial Strength:
   The company’s balance sheet is modest but healthy for its size, with current assets of £32,011 versus current liabilities of only £1,704, yielding strong net working capital of £30,307. Shareholders’ funds mirror net assets, indicating no hidden liabilities. There is no indication of long-term debt or fixed assets from the data. The company has grown from virtually no net assets in 2020 to over £30k in 2024, reflecting some operational progress.

3. Cash Flow Assessment:
   Direct cash balances at previous year-end are minimal (£1 in 2021), suggesting limited cash reserves, but current assets likely include receivables and possibly stock supporting working capital needs. The low current liabilities suggest limited immediate obligations. The increase in employees from 7 to 9 indicates some investment in human capital that could strain cash flow if not matched by revenue growth. Further details on cash flow from operations would be beneficial to fully assess liquidity.

4. Monitoring Points:

• Monitor cash flow trends and liquidity, especially given the small absolute cash reserves.
• Watch receivables aging and debtor collection efficiency to ensure working capital remains positive.
• Track profitability trends and margins given the construction sector’s volatility and small scale of operations.
• Keep an eye on employee costs versus revenue growth to avoid margin pressure.
• Confirm there are no contingent liabilities or off-balance-sheet obligations.