Company Number: 15168559

Analysis Date: 2025-07-20 19:05 UTC

1. Credit Opinion: APPROVE with conditions.
   RASPLASTERING LTD is a newly incorporated micro-entity operating in commercial building construction. The company shows positive net assets and working capital but limited scale and trading history. The director is also the sole shareholder with full control, which supports accountability but concentrates risk. Approve credit facilities up to a modest limit, contingent on continued timely filing and evidence of revenue generation to support repayment.

2. Financial Strength:
   The balance sheet as at 30 September 2024 shows total net assets of £3,612, with fixed assets of only £420. Current assets of £9,294 exceed current liabilities of £6,102, yielding a positive net working capital of £3,192. This indicates a sound short-term financial position for a micro-entity, though the absolute values are low reflecting the early stage of the business.

3. Cash Flow Assessment:
   The company’s working capital position is positive, indicating ability to meet short-term liabilities. However, with only one employee and micro-entity scale, cash flow is likely tight and dependent on timely client payments. No detailed profit and loss or cash flow statement is available, so ongoing monitoring of invoicing and receivables is essential to avoid liquidity stress.

4. Monitoring Points:

• Ensure continued prompt filing of accounts and confirmation statements to maintain transparency.
• Monitor growth in turnover and profitability in subsequent years to assess debt servicing capacity.
• Watch for any increase in liabilities disproportionate to current assets which could pressure liquidity.
• Review director and company credit behavior for any signs of financial distress or related-party transactions.
• Track industry conditions in commercial construction that could impact cash flow and contract stability.