SWIFT CHARGING LIMITED

Executive Summary

Swift Charging Limited is a recently incorporated private company showing early signs of financial strengthening with positive net assets and current assets exceeding current liabilities. However, limited equity and increased overdraft usage suggest moderate liquidity risk at this stage. Regulatory compliance is sound, but due diligence should focus on cash flow sustainability and operational viability given the company’s nascent status.

SWIFT CHARGING LIMITED - Analysis Report

Company Number: 14812898

Analysis Date: 2025-07-20 14:07 UTC

1. Risk Rating: MEDIUM
   Swift Charging Limited shows modest net assets and a positive working capital position, indicating a basic ability to meet short-term obligations. However, the company is very recently incorporated (April 2023) with limited operating history and minimal equity capital (£2 share capital). The presence of a bank overdraft increasing from £20 to £7,652 raises moderate liquidity concerns, although cash balances have improved.

2. Key Concerns:

• Liquidity and Overdraft Usage: The bank overdraft has increased significantly to £7,652 as at April 2025, which might indicate temporary cash flow pressure despite positive net current assets. Monitoring ongoing cash flows is critical.
• Very Limited Equity Base: The share capital of only £2 and relatively low net assets (£21,152) limit the company’s financial buffer against unexpected losses or adverse market conditions.
• Early Stage with Limited Financial Data: Incorporated in 2023, the company has only two years of financial data, limiting the ability to assess operational stability and long-term viability.

3. Positive Indicators:

• Positive Net Current Assets and Net Assets Growth: Net current assets improved from £5,572 in 2024 to £18,998 in 2025, and net assets increased from £8,039 to £21,152, demonstrating some financial strengthening.
• Revenue Recognition and Going Concern Stated: The directors prepared accounts on a going concern basis and recognize revenue prudently, suggesting awareness of accounting standards and compliance.
• No Overdue Filings or Compliance Issues: All statutory accounts and confirmation statements are filed on time, indicating good regulatory compliance.

4. Due Diligence Notes:

• Investigate the nature and terms of the bank overdraft facility and the company’s cash flow projections to assess liquidity risk in more detail.
• Review client base, contracts, and revenue generation to understand operational sustainability given the limited history.
• Clarify the business model and market positioning in the “Other professional, scientific and technical activities not elsewhere classified” SIC code, supported by the website indicating EV charging installation services.
• Assess directors’ background and experience for operational competence, noting two directors also hold significant control (25-50% shares and voting rights).
• Confirm absence of contingent liabilities or off-balance sheet risks not disclosed in the accounts.