INGENI GROUP LIMITED

Credit Opinion: CONDITIONAL

INGENI GROUP LIMITED should not be considered for unsecured lending. The business was incorporated on 15 March 2024 and has filed only one set of micro-entity accounts, covering the period to 31 March 2025. Net assets are £4,790 and total assets are £15,150, with nil employees recorded. Any credit facility should be conditional on full security (for example, a debenture, personal guarantees from the controlling directors, or cash collateral), sized conservatively relative to the balance sheet, and supported by recent management accounts and personal financial statements from the directors.

Financial Strength

The balance sheet as at 31 March 2025 shows: - Total assets: £15,150 (all current assets; no fixed assets disclosed) - Creditors falling due within one year: £7,005 - Net current assets: £8,145 - Creditors falling due after more than one year: £2,355 - Accruals and deferred income: £1,000 - Net assets / shareholders’ funds: £4,790

The accounts were prepared under micro-entity provisions and are audit-exempt, meaning limited disclosure and no independent verification. This is the company’s first trading period, so there are no comparative figures. The equity cushion of under £5,000 provides negligible loss absorption. While the current ratio is approximately 2.2:1, the absolute values are very small, and the balance sheet appears to reflect initial capital introduced rather than retained trading profits.

Cash Flow Assessment

No cash flow statement was filed, as is permitted for micro-entities. The £15,150 current asset figure is likely to comprise cash introduced at incorporation rather than operating cash generation. The accounts record nil employees (including directors), which indicates no payroll overhead but also limited demonstrated operational capacity. Working capital is positive at £8,145, yet this is thin for a construction business, which typically requires funding for materials, subcontractors, and retentions. Debt-servicing capacity is unproven; turnover and profit are not disclosed in the summary micro-accounts provided.

Monitoring Points

• Timeliness of the next accounts (due 31 December 2026) and confirmation statement (due 28 March 2027); late filing would be a negative signal.
• Evidence of trading activity in the next accounts or management information, including turnover, cash movement, and debtor/creditor trends.
• Any change in the recorded nil employee count, which would indicate the business is becoming operational.
• Changes to the director or PSC register; resignation of either director would concentrate control with the remaining officer.
• County court judgments, winding-up petitions, or other insolvency events against the company.
• Consistency between the website description (heritage building and Essex operations) and the registered office in London, together with the very small scale shown in the accounts.
• Personal financial strength of the directors if personal guarantees are taken as security.