Company Number: SC772811

Analysis Date: 2025-07-20 11:34 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Unlimited One Ltd is a newly incorporated private limited company (June 2023) operating in the "Other accommodation" sector. The financials for the first 14-month period to August 2024 show minimal scale with net current assets of £457 and net assets of the same amount. The company’s ability to meet current liabilities is marginal but positive, indicating very limited financial buffer. There is no audit requirement due to small size, and the company has complied with filing deadlines. The single director and 100% shareholder, Dr Veronica McBurnie, appears to have full control and responsibility. Given the early stage of operations and modest asset base, credit exposure should be limited and closely monitored, but the absence of overdue filings and the maintenance of positive net assets support a conditional approval for low-value credit facilities.

2. Financial Strength:

• Total assets less current liabilities stand at £457, reflecting a very small balance sheet consistent with a micro-entity.
• Current assets of £13,918 consist primarily of debtors (£9,094) and cash (£4,824), while current liabilities are £13,461, including tax and social security liabilities of £3,448.
• Shareholders’ funds of £457 (comprising £100 share capital and £357 profit and loss reserve) show minimal equity buffer but no negative net worth.
• The company has no fixed assets and employs only one person (the director).
• The balance sheet shows the company is solvent but with very limited financial strength, typical for a start-up.

3. Cash Flow Assessment:

• Cash at bank of £4,824 provides some immediate liquidity.
• Debtors at £9,094 are sizable relative to cash and require timely collection to maintain liquidity; working capital is positive but very thin at £457.
• Creditors include £10,013 other creditors and £3,448 in taxation and social security, indicating operational payables and statutory obligations.
• The marginal net current assets position suggests tight working capital management will be needed to avoid liquidity strain.
• No information on cash flow from operations is provided, but the current position calls for close monitoring of debtor collections and creditor payments.

4. Monitoring Points:

• Track debtor ageing and collection rates carefully to ensure cash inflows remain steady.
• Monitor creditor payment terms and tax liabilities to avoid overdue statutory payments.
• Watch for any significant increase in liabilities or deterioration of net current assets.
• Review subsequent financial statements for revenue growth, profitability trends, and cash flow generation as the company moves beyond its start-up phase.
• Assess director’s ongoing commitment and any changes in control or governance.
• Evaluate impact of industry conditions on accommodation sector demand, especially given economic sensitivity.