ON-LINE PUBLISHING LTD

Executive Summary

ON-LINE PUBLISHING LTD maintains positive net assets and working capital, supporting its ability to meet short-term liabilities despite a recent contraction in financial strength. The company’s micro-entity status and streamlined operations reduce complexity but warrant cautious facility sizing and ongoing monitoring. Conditional credit approval is recommended with attention to liquidity trends and operational performance in subsequent periods.

ON-LINE PUBLISHING LTD - Analysis Report

Company Number: 12414168

Analysis Date: 2025-07-20 18:27 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   ON-LINE PUBLISHING LTD demonstrates positive net assets and working capital in the latest financial year, indicating an ability to meet short-term liabilities. However, the company’s net assets have contracted from £11,272 in 2024 to £7,849 in 2025, reflecting some weakening in financial position. The absence of employees suggests a lean operation, potentially relying on director management or subcontracted services. Given the micro-entity status and modest asset base, credit facilities should be carefully sized and possibly secured, with ongoing monitoring of liquidity and profitability.

2. Financial Strength:
   The company’s balance sheet shows total net assets of £7,849 as at 31 January 2025, down from £11,272 the previous year. Fixed assets have decreased significantly from £1,075 to £307, while current assets have declined by approximately £3,800 to £10,217. Current liabilities have also reduced, keeping net current assets positive at £7,542. The shareholder funds remain positive, indicating retained earnings or capital contributions have supported solvency. Overall, the financial position is stable but shrinking, warranting caution.

3. Cash Flow Assessment:
   Current assets exceed current liabilities by a comfortable margin, providing adequate working capital. The company’s liquidity appears sufficient to cover short-term obligations without stress; however, the reduction in current assets and fixed assets year-on-year might suggest less cash or receivables on hand and limited investment in long-term assets. No employees implies low payroll costs, which supports cash conservation. Cash flow statements are not provided, so reliance is on balance sheet indicators. Monitoring cash flow generation from operations will be important.

4. Monitoring Points:

• Track net asset and working capital trends closely in future filings to detect further erosion.
• Monitor any changes in current liabilities that may signal payment difficulties.
• Review director conduct and business activity since the company operates without employees.
• Assess profitability and cash flow if available, as micro-entity accounts do not provide full P&L details.
• Observe any changes in business model or capital structure as the company grows or contracts.