Company Number: 13842249

Analysis Date: 2025-07-19 13:05 UTC

Credit Opinion:
APPROVE. Page Logistics Ltd demonstrates a stable and improving financial position in its second full year of operations, with positive net assets and working capital. The company has a solid cash position relative to current liabilities, indicating good liquidity to meet short-term obligations. There is no indication of adverse director conduct or overdue filings. Given the recent incorporation (2022) but steady growth in net assets and shareholder funds, the credit risk is moderate but acceptable for typical SME lending, subject to standard monitoring.

Financial Strength:
The balance sheet shows net assets of £79,527 as of 31 January 2024, up from £52,532 the prior year, reflecting capital growth and retained earnings accumulation. Fixed assets are modest (£27,540), primarily motor vehicles, indicating limited capital intensity but suitable for a logistics operation. Current assets are £211,925, dominated by cash (£211,588), which supports liquidity. Current liabilities stand at £131,425, leaving net current assets (working capital) of £80,500, a healthy buffer. Long-term creditors are £28,513, which is manageable relative to equity. Overall, the company shows a sound financial base for its size and sector.

Cash Flow Assessment:
The cash balance increased from £194,317 to £211,588 over the year, showing positive cash flow management. Current liabilities are well covered by cash and receivables, and the company’s working capital position is strong. No evidence suggests cash flow stress or liquidity constraints, which is critical in logistics where operational cash flow volatility can occur. The company employs 3 staff, indicating a lean cost base, which supports cash preservation. However, detailed cash flow statements are not provided, so ongoing monitoring of cash inflows and outflows is recommended.

Monitoring Points:

• Maintain oversight of trade and other payables, particularly taxation and social security liabilities which increased to £134,411 in 2024; ensure these are settled timely to avoid penalties.
• Monitor working capital trends and cash balances to detect any liquidity tightening, especially if business scales up or if credit terms to customers tighten.
• Watch for any significant changes in fixed assets or long-term debt that could alter capital structure or leverage.
• Review subsequent filings and confirmation statements for timely compliance and any changes in director or ownership structure.