Company Number: 14157219

Analysis Date: 2025-07-29 19:50 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   TNO GLOBAL LTD is a recently incorporated private limited company with a single director and sole shareholder. The company’s financial statements for the first 13-month period show modest but positive net current assets and shareholders’ funds of £35,350, indicating initial capitalization and working capital adequacy. However, the absence of an income statement and limited trading history restricts full assessment of profitability and cash flow sustainability. Credit approval is recommended on a conditional basis, subject to obtaining interim management accounts demonstrating ongoing revenue generation and cash flow stability before extending significant credit facilities.

2. Financial Strength:
   The balance sheet reflects a small but positive net asset position, with current assets of £50,431 mainly comprising trade debtors (£33,075) and cash (£6,075), against current liabilities of £15,081. Shareholders’ funds stand at £35,350, solely from retained earnings after initial share capital of £1. The company has no fixed assets, which is typical for a service-oriented consultancy business. The strong working capital position (net current assets of £35,350) suggests the company is currently solvent and has a buffer to meet short-term obligations.

3. Cash Flow Assessment:
   Cash on hand is limited (£6,075), which may constrain liquidity if cash conversion cycles lengthen or if unexpected costs arise. Trade debtors of £33,075 represent a significant portion of current assets, so timely collection is critical. Current liabilities of £15,081, including tax and other creditors, are manageable given the working capital buffer. The company’s cash flow risk is moderate; continued monitoring of debtor turnover and cash balances is essential to ensure sufficient liquidity for debt servicing.

4. Monitoring Points:

• Obtain interim financial statements including profit and loss to assess trading performance and cash flow generation.
• Monitor debtor aging reports to ensure receivables are collected timely and do not impair liquidity.
• Track cash balances closely for any signs of liquidity stress.
• Review any changes in director or shareholder status, given the company is single-person controlled.
• Watch for timely filing of future accounts and confirmation statements to ensure regulatory compliance.