Company Number: 14597604

Analysis Date: 2025-07-29 13:04 UTC

1. Credit Opinion: APPROVE with conditions. Superbutler Limited is a recently incorporated micro-entity in the software development sector showing a significant turnaround from a negative net asset position in 2024 to positive net assets in 2025. While the company’s current asset base and net current assets have improved substantially, it still carries long-term liabilities (£66,000). The directors and shareholder structure appear stable with no adverse director conduct records. However, given the short trading history and the prior losses, credit exposure should be limited initially and regularly reviewed.

2. Financial Strength: The balance sheet shows a marked improvement over two years. As of 31 January 2025, total assets less current liabilities stand at £174,595 with net assets of £108,595, reversing a prior net liability position of £145,593. The company holds minimal fixed assets (£989) reflecting an asset-light business model typical of software development. The shareholder funds closely match net assets, indicating no hidden reserves or off-balance sheet liabilities. The presence of long-term creditors (£66,000) should be monitored but is not excessive relative to equity.

3. Cash Flow Assessment: Current assets increased sharply to £302,503 while current liabilities decreased to £128,897, resulting in positive net working capital of £173,606. This suggests strong short-term liquidity and an ability to cover operational payables and short-term debt comfortably. The company’s working capital improvements are critical given its micro status and limited capital base (£6 share capital). Absence of audit and relatively few employees (average 4) keep overheads manageable, but cash flow stability should be confirmed with future trading results.

4. Monitoring Points:

• Ongoing profitability and cash flow generation to sustain positive net assets.
• Management of the £66,000 long-term creditor balance and any new borrowing.
• Timely filing of returns and accounts to maintain regulatory compliance.
• The stability of ownership and director involvement given recent director changes.
• Sector risks related to software development competition and client concentration.