Company Number: 13611228

Analysis Date: 2025-07-29 16:56 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Tuckenhay Limited shows a positive net asset position with significant growth in net current assets and shareholders’ funds between 2022 and 2023, indicating improving financial strength. However, the company is relatively young (incorporated in 2021) and still small in scale, with no audit performed, which limits the depth of financial assurance. The absence of an income statement and limited disclosure on profitability means cash flow stability and profitability need ongoing monitoring before extending significant credit facilities.

2. Financial Strength:

• Net assets increased substantially from £18,284 in 2022 to £59,224 in 2023, reflecting retained earnings growth and likely profitability, though not explicitly stated.
• Net current assets rose from £16,552 to £57,541, showing improved liquidity and working capital management.
• Fixed assets are minimal (£2,077), consistent with a service-oriented business (insurance agency/broker).
• Creditors increased but remain well covered by current assets.
• Deferred tax provision is small and stable, indicating manageable tax liabilities.
  Overall, the balance sheet is sound with no sign of financial distress.

3. Cash Flow Assessment:

• Debtors increased significantly to £91,484, which requires scrutiny to ensure timely collection and avoid liquidity strain.
• Current liabilities also rose but remain modest relative to current assets, maintaining a strong working capital position.
• No bank overdrafts or borrowings are reported, suggesting no reliance on external short-term finance.
• The company’s policy on revenue recognition suggests conservative accounting, but actual cash inflows should be verified through further inquiry or bank statements.
  Liquidity appears adequate but depends on debtor collection efficiency.

4. Monitoring Points:

• Track debtor turnover and ageing to ensure receivables are collected promptly.
• Monitor profitability via future filings since the income statement is currently unavailable.
• Review any growth in liabilities, especially short-term creditors and provisions, for indications of cash flow stress.
• Confirm ongoing compliance with filing deadlines and any changes in director or ownership structure.
• Watch for signs of operational scaling or diversification, given the company’s early stage and limited asset base.