Company Number: 12872487

Analysis Date: 2025-07-29 15:55 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   UTILIPLUS LTD is a micro-entity with a very modest balance sheet and limited financial history since incorporation in 2020. The company’s net assets are positive but minimal (£309 as of September 2024), following a recovery from negative equity in prior years. Current liabilities slightly exceed current assets, indicating tight working capital. Given the small scale, limited fixed assets, and marginal net asset base, credit exposure should be limited and closely monitored. Extension of credit facilities could be considered on a conditional basis, subject to ongoing positive trading performance and timely filing compliance.

2. Financial Strength:
   The company has demonstrated some improvement from negative net assets at incorporation to a small positive net asset position (£309). Fixed assets remain negligible (£441), with the bulk of assets in current assets (£21,260), primarily cash or receivables given the nature of the business. However, current liabilities are also high (£21,392), resulting in a slightly negative net current asset position (-£132). The equity base is minimal, reflecting limited retained earnings and capital injection. Overall, the balance sheet is fragile and would not absorb significant financial stress.

3. Cash Flow Assessment:
   With current liabilities slightly exceeding current assets, liquidity is very tight. The company operates with one employee and minimal overhead, which limits cash outflows. However, the minimal net working capital buffer means any delays in receivables or unexpected expenses could impact solvency. The absence of long-term debt is positive. Close attention to cash flow management is essential to maintain operational continuity.

4. Monitoring Points:

• Quarterly cash flow forecasts to ensure liquidity remains positive.
• Timely filing of accounts and confirmation statements to avoid compliance risks.
• Changes in working capital components, particularly receivables and payables turnover.
• Profitability trends and any capital injections or dividend distributions.
• Any material changes in management or ownership structure.