PROTRAC PROPERTY LTD

Executive Summary

Protrac Property Ltd has shown a turnaround from net liabilities to a small net asset position within two years of incorporation, but overall financial strength and liquidity remain minimal. The company’s ability to service debt is limited at this early stage, warranting a conditional credit approval with small exposure and strong monitoring. Close attention should be paid to forthcoming financial results and cash flow developments to ensure business viability and credit risk mitigation.

PROTRAC PROPERTY LTD - Analysis Report

Company Number: 14157268

Analysis Date: 2025-07-29 19:50 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Protrac Property Ltd is an active private limited company incorporated in mid-2022, operating in the management and dealing of real estate. It has demonstrated a positive turnaround in its financial position in the latest year, moving from negative net assets (£-34) in 2023 to a modest positive net asset base (£100) in 2024. However, the absolute scale of operations and financial buffers is minimal, with current assets and cash at only £100 and no fixed assets or significant working capital. The company’s ability to service debt is limited at this stage, and credit exposure should be carefully capped and monitored. Approval is conditional on small facility size, strong personal guarantees from the principal controllers, and regular financial updates.

2. Financial Strength:
   The company’s balance sheet is currently very small and lean. It reports no fixed assets and a nominal cash balance of £100 as of June 2024, resulting in net current assets of £100. Shareholders’ funds have improved from a negative position to £100, reflecting new capital injection or retained earnings. The company is still in its early growth phase and has not shown meaningful operational scale or profitability data (P&L accounts were not filed). The absence of debt liabilities is positive but also suggests limited trading history. Overall, the financial strength is weak due to the small capital base and minimal asset coverage.

3. Cash Flow Assessment:
   Cash holdings are minimal, with only £100 reported at the last year-end. No information is available on cash inflows from operations or other liquidity sources. The working capital position is positive but negligible. Given the small size and early stage, cash flow sensitivity is high, and the company’s ability to meet unexpected cash demands or debt servicing is uncertain. Operating cash flow data is absent, so liquidity risk remains a concern. Lending should be cautiously structured with tight covenant controls.

4. Monitoring Points:

• Monitor future filings for profit & loss statements to assess operational cash generation and profitability trajectory.
• Track cash balances and working capital movements to ensure liquidity remains positive.
• Review any changes in directors or significant control that may affect governance or risk profile.
• Watch for timely submission of annual accounts and confirmation statements, as compliance indicates management quality.
• Assess any new capital injections or debt facilities that impact leverage and solvency.