Credit Assessment: TURBO POWER SERVICES LIMITED

1. Credit Opinion: DECLINE

This entity is classified as dormant (SIC Code 99999) and has had no trading activity, revenue, or employees for at least the current and prior financial year. The company cannot service debt obligations from its own operations as it generates no income. The balance sheet contains only a static inter-company debtor of £38,698 (likely owed by parent company Osborne Engineering Ltd), with no cash, no current liabilities, and no operational assets.

Any credit facility extended to this entity would be entirely dependent on the creditworthiness of the parent company, Osborne Engineering Ltd, rather than the applicant itself. Unless Osborne Engineering Ltd provides a formal parent company guarantee, credit exposure cannot be justified.

2. Financial Strength

Balance Sheet Summary (YE 31 March 2025):

Key Observations: - Shareholders' funds have remained identically flat at £38,698 for at least 10 consecutive years (2016–2025), confirming complete dormancy - The sole asset is "Other debtors" of £38,698 — almost certainly an inter-company balance with parent Osborne Engineering Ltd - No cash balances, no fixed assets, no trade debtors, no stock - No liabilities, meaning no creditor pressure, but also no operational scale - Share capital of £900 is minimal - The company is effectively a balance sheet shell holding an inter-company receivable

Financial Strength Rating: Negligible — The company has no independent operating capacity and minimal standalone asset base.

3. Cash Flow Assessment

• Revenue: £0 — no trading income
• Operating Cash Flow: £0 — no business activity
• Employees: NIL for current and prior year
• Working Capital: Technically £38,698, but this is entirely comprised of an inter-company debtor that has remained unchanged for a decade. This is not liquid working capital in any practical sense; it represents a long-standing balance with the parent entity rather than trade receivables

Liquidity Assessment: The company has no cash, no bank facilities, and no revenue stream. The inter-company debtor of £38,698 is the only asset, and its realizability is entirely dependent on the parent company's solvency and willingness to settle. There is no independent liquidity to service any debt obligation.

4. Monitoring Points

Should any credit relationship be considered (with parent guarantee), the following require ongoing monitoring:

1. Parent Company Creditworthiness: Osborne Engineering Ltd's financial health is the sole determinant of risk — obtain and review their latest consolidated accounts
2. Inter-Company Debtor Realizability: The £38,698 debtor has been static for 10+ years — assess whether this is recoverable or effectively written off within the group
3. Confirmation Statement Overdue: The confirmation statement was due 14 January 2026 and remains overdue — a compliance concern that may indicate administrative neglect
4. Dormancy Status Change: Monitor for any reactivation of trading activity, which would fundamentally alter the risk profile
5. Group Restructuring: Any changes in ownership or group structure could affect the parent guarantee position
6. Filing Compliance: While accounts are current, the overdue confirmation statement should be rectified promptly