Company Number: 15412405

Analysis Date: 2025-07-29 14:58 UTC

1. Credit Opinion: DECLINE
   Swishy Ltd is a newly incorporated company (January 2024) that has filed dormant accounts for its first financial year ending December 2024. The accounts show negligible financial activity with only £2 in cash and net assets, indicating no trading or operational revenue to support debt servicing. The company’s dormant status and absence of financial history mean there is no evidence of ability to meet credit obligations or generate cash flows. Without trading history or financial performance data, the credit risk is very high and the company is not currently suitable for credit facilities.

2. Financial Strength:
   The balance sheet is minimal, reflecting a purely nominal capital of £2 in ordinary shares and cash. There are no fixed or current assets beyond cash, and no liabilities reported. Shareholders’ funds equal net assets at £2. The company’s financial position is extremely weak due to inactivity and lack of operational assets or reserves. This effectively means no collateral or equity cushion exists to support lending.

3. Cash Flow Assessment:
   Cash holdings are trivial (£2), and there are no reported revenues or expenses. The company is dormant and has not demonstrated any cash generation or working capital management. Therefore, liquidity is effectively non-existent. There is no working capital cycle to evaluate, making the company unable to service any debt or operational outlays.

4. Monitoring Points:

• Monitor for future filing of trading accounts to assess business activity and financial performance.
• Watch for any significant capital injections or changes in asset base.
• Track director activity and any change in business model or operational status.
• Review future cash flow statements once trading begins to evaluate debt repayment capacity.