Company Number: 13889678

Analysis Date: 2025-07-20 18:36 UTC

1. Credit Opinion: DECLINE
   Voshie Ltd demonstrates significant financial distress with persistent and deep net liabilities (£-72,248 as of Feb 2024), indicating inadequate equity to support ongoing operations. The company’s liabilities due after more than one year (£82,155) far exceed its total assets, undermining its ability to service debt or additional credit. The micro-entity financial scale and sole director/shareholder structure further limit financial flexibility and risk diversification. Absent a clear repayment plan or capital injection, the credit risk is high.

2. Financial Strength:
   The balance sheet shows a declining net asset position, worsening from £-58,777 in 2023 to £-72,248 in 2024. Fixed assets have decreased slightly (£13,311 to £9,324), and current assets have plummeted from £13,360 to £2,029. Current liabilities are minimal (£82,155 are long-term creditors), but overall indebtedness dominates. Shareholders’ funds are negative, reflecting accumulated losses and no retained earnings, which indicates poor financial sustainability.

3. Cash Flow Assessment:
   Current assets are minimal and insufficient to cover current liabilities, though the reported current liabilities figure is low (£82,155 classified as long-term liabilities). The company’s working capital remains positive but very small (£2,029), suggesting liquidity is tight. The director’s loan balance (£1,862) implies some internal funding support but is not a reliable cash flow source. Overall, cash flow is constrained, and the company may struggle to meet short-term obligations or absorb shocks.

4. Monitoring Points:

• Monitor net liabilities and shareholders’ funds for any improvement or further deterioration.
• Track changes in long-term creditors to assess any restructuring or refinancing efforts.
• Review director loan accounts for repayment or additional advances.
• Observe turnover and profitability trends in future filings to evaluate operational viability.
• Watch for timely filing of accounts and returns as a sign of ongoing compliance and management discipline.