TRESILIAN PROJECT MANAGEMENT LIMITED

Executive Summary

Tresilian Project Management Ltd presents a stable early-stage financial profile with adequate liquidity and positive net assets. Given its recent incorporation and limited trading history, credit facilities should be extended conditionally with close monitoring of financial performance and compliance. The company’s manageable liabilities and cash position support its ability to meet near-term obligations, but ongoing project execution and revenue generation are critical for credit risk mitigation.

TRESILIAN PROJECT MANAGEMENT LIMITED - Analysis Report

Company Number: 14654066

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

1. Credit Opinion: CONDITIONAL APPROVAL
   Tresilian Project Management Ltd is a newly incorporated private limited company (Feb 2023) operating in the development of building projects (SIC 41100). The company shows a modest but positive opening financial position with net assets of £16,957 and net current assets of £16,398 as at 31 March 2024. The single director and majority shareholder, Mr Benjamin Llewellyn Thomas, appears actively engaged with no adverse governance flags. However, the company’s limited operating history (just over one year) and relatively small scale of operations necessitate cautious lending with conditions tied to ongoing financial performance monitoring and timely filing of future accounts.

2. Financial Strength:
   The company’s balance sheet is modest but healthy for its size. Tangible fixed assets are negligible (£559 net book value), indicating low capital intensity and likely limited collateral value. Current assets are primarily cash (£39,791), providing liquidity buffer against current liabilities of £23,393. Shareholder funds of £16,957 support a positive equity base. The company has a director loan balance of £8,251, which should be monitored for repayment or conversion terms. Overall, the company demonstrates a stable but nascent financial foundation consistent with a start-up in project development.

3. Cash Flow Assessment:
   Cash at bank of £39,791 comfortably covers short-term liabilities of £23,393, leaving net current assets of £16,398. With only one employee (the director), operating overheads are presumably low, aiding cash conservation. The company’s accounting policies recognize revenue on a percentage of completion basis, which could introduce timing volatility in cash flows depending on project progress. There is no indication of external borrowings, which limits financial risk but also restricts capital availability. Going forward, cash flow adequacy will depend on continued project wins and timely client payments.

4. Monitoring Points:

• Future turnover and profitability trends to establish sustainable cash generation.
• Director loan account movements and potential impact on liquidity.
• Timely submission of next accounts and confirmation statements to avoid compliance risk.
• Changes in working capital, especially trade receivables and payables, as project activity scales.
• Any changes in ownership or management that might affect governance or control.