Company Number: 14615300

Analysis Date: 2025-07-29 16:30 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Saucy Griller Ltd is a recently incorporated private limited company operating in the take-away food sector. It shows growth in net assets from £1,717 to £5,221 within two years, indicating positive capital injection and asset acquisition. However, the company currently has negative net working capital (net current liabilities of £1,379 in 2025), which signals short-term liquidity pressure and potential difficulties covering immediate liabilities. The absence of employees and modest cash balances (£466) further highlight limited operational scale and cash flow constraints. The majority shareholder and director, Jaime Rogers, holds full control, suggesting centralized management but also concentration risk. Given these factors, credit approval should be conditional on obtaining additional assurances such as personal guarantees or evidence of cash flow improvement.

2. Financial Strength:
   The company’s balance sheet shows fixed tangible assets increased from £2,700 to £6,600, reflecting investment in plant and machinery. Total net assets have grown from £1,717 to £5,221, supported by retained earnings (profit and loss account balance of £5,121) and minimal share capital (£100). Current liabilities exceed current assets by £1,379 in the latest year, resulting in negative working capital. This indicates reliance on short-term creditors to finance operations, which could impair resilience if sales or cash inflows fluctuate. The company’s equity base is positive but relatively small, consistent with a micro to small-sized entity.

3. Cash Flow Assessment:
   Cash at bank decreased slightly from £561 to £466 despite asset growth, indicating some pressure on liquidity or reinvestment of funds into fixed assets and stock (£250 in 2025). The negative net current assets position shows that short-term obligations surpass readily available current assets, potentially creating cash flow timing issues. No employees are currently on payroll, which reduces operational cash burn but also indicates limited scale. Working capital management and cash conversion cycle will be critical to monitor, as the company may struggle to meet creditor demands without timely turnover or external funding.

4. Monitoring Points:

• Liquidity ratios: Current ratio and quick ratio to track improvement or deterioration in short-term financial health.
• Cash flow statements (when available) to assess operational cash generation and timing of creditor payments.
• Profitability trends to confirm ongoing accumulation of retained earnings and sustainability of earnings growth.
• Director and shareholder actions, especially related to any additional capital injections or financing arrangements.
• Debtor and creditor ageing reports to monitor credit risk and payment practices.