ONGOING WORKS LTD

Executive Summary

Ongoing Works Ltd presents a strong balance sheet with growing net assets and robust working capital, supporting a positive credit decision. Its micro-entity status and low liabilities point to low credit risk, though limited operational scale suggests monitoring of cash flow and business continuity is prudent. Overall, the company appears financially stable and capable of servicing credit facilities under current conditions.

ONGOING WORKS LTD - Analysis Report

Company Number: 12407525

Analysis Date: 2025-07-20 18:26 UTC

1. Credit Opinion: APPROVE. Ongoing Works Ltd demonstrates stable and improving net asset positions and low liabilities, indicating a solid ability to meet short-term obligations. The company has no overdue filings and maintains positive working capital. Given its micro-entity status and consistent balance sheet growth over recent years, the risk of default appears low. However, the absence of employees and low fixed assets may suggest limited operational scale and potential vulnerability to market downturns. Still, with a single experienced director and no adverse indicators, the credit risk is manageable.

2. Financial Strength: The company’s net assets have grown from £8,740 in 2020 to £31,271 in 2025, reflecting a strengthening equity base. Current assets have increased steadily (£10,267 to £33,758), while current liabilities remain minimal (under £2,500 in 2025), yielding strong net current assets and positive working capital (£31,271 in 2025). The balance sheet shows no fixed assets as of the latest year, which is typical for a service-focused architectural design firm. Overall, the financial structure is conservative, with no long-term debt visible and a clean balance sheet.

3. Cash Flow Assessment: Liquidity is healthy as evidenced by current assets exceeding current liabilities by a wide margin. The company’s working capital position has improved consistently, indicating good short-term cash flow management. No employees are recorded, which likely limits payroll outflows and contributes to cash conservation. The lack of fixed assets minimizes depreciation charges and capital expenditure demands. However, without detailed P&L or cash flow statements, assumptions about operational cash generation must be cautious but are supported by balance sheet growth.

4. Monitoring Points:

• Maintain oversight on receivables and other current assets to ensure they convert into cash timely.
• Watch for any sudden increases in current liabilities that could pressure liquidity.
• Monitor any changes in director or management structure that could affect business continuity.
• Track the company’s ability to generate consistent revenue and profit through future filings, since micro-entity accounts provide limited detail.
• Confirm that filing deadlines continue to be met to avoid regulatory or reputational risks.