Company Number: 15290795

Analysis Date: 2025-07-20 19:14 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Pre-Check Solutions Ltd is a newly incorporated private limited company with its first financial statements covering a 12-month period since incorporation. The company demonstrates a positive net asset position and net current assets, indicating initial financial stability. However, as a start-up with limited trading history and modest capital (£200 share capital), the absence of profit and limited operational track record poses some risk. Approval is recommended with conditions including regular monitoring of trading performance, cash flow, and timely filing of accounts.

2. Financial Strength:
   The balance sheet as at 30 November 2024 shows total net assets of £24,007, consisting mainly of net current assets (£20,923) and fixed tangible assets (£4,112). The company holds £116,097 in cash, which comfortably covers current liabilities of £95,174. Shareholders’ funds equal net assets, reflecting no long-term debt. Provisions for liabilities are minimal (£1,028). Overall, the financial position is sound for a start-up, with no signs of over-leverage or insolvency risk. The low share capital is typical for a small private company but limits the equity buffer.

3. Cash Flow Assessment:
   Cash resources of £116,097 exceed current liabilities, providing a working capital surplus of £20,923. This suggests adequate liquidity to meet short-term obligations. The current liabilities include trade creditors (£46,773), tax liabilities (corporation tax £20,228, VAT £24,472), and other accrued expenses. The positive net current assets and cash position indicate the company can service its immediate debts. However, given the company’s infancy, cash flow should be closely monitored to ensure ongoing operational funding, especially as the company scales.

4. Monitoring Points:

• Quarterly cash flow and working capital trends to detect any liquidity issues early.
• Profitability measures once subsequent trading results become available.
• Timely filing of the next annual accounts and confirmation statements to ensure compliance.
• Any changes in director appointments or PSC structure, given the recent resignation of a director in October 2024.
• Tax liabilities and PAYE/VAT payments to avoid penalties or enforcement action.
• Business growth indicators including turnover and client diversification to assess sustainability.