Company Number: 14737788

Analysis Date: 2025-07-29 13:14 UTC

1. Credit Opinion: APPROVE
   REFRM LIMITED is a newly incorporated micro private limited company operating a Pilates studio in Stevenage. The company shows a positive net asset position with net assets of £19,379 and healthy working capital of £13,442. Although it has no employees and limited fixed assets, the balance sheet reflects sound initial capitalization and liquidity to meet short-term obligations. The sole director and 100% shareholder demonstrates control and accountability. Given the micro-entity scale and absence of overdue filings, the company currently presents low credit risk suitable for modest credit facilities.

2. Financial Strength:
   The company's balance sheet as of 30 June 2024 shows fixed assets of £5,937 and current assets of £27,035, mainly comprising cash or equivalents given the nature of the business. Current liabilities stand at £13,593, resulting in net current assets of £13,442. Total net assets equal £19,379, fully represented by shareholders’ funds. This indicates a solvent and financially stable position with no indication of leveraging or overextension.

3. Cash Flow Assessment:
   The positive net current assets and current asset base more than twice the current liabilities indicate comfortable liquidity and working capital. The company’s operational scale (0 employees) suggests low overheads, supporting cash preservation. However, detailed cash flow statements are not provided, so ongoing cash generation should be monitored, particularly as the business grows and incurs more expenses.

4. Monitoring Points:

• Future revenue growth and profitability trends once trading fully matures.
• Cash flow statements and working capital management as staff or fixed costs increase.
• Timely filing of future accounts and confirmation statements to maintain compliance.
• Credit exposure if any borrowings or supplier credit are utilized beyond current levels.
• Market conditions impacting the fitness facilities sector and any business model adjustments.