Company Number: 13816677

Analysis Date: 2025-07-29 19:14 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Angela Birleson Ltd is a micro private limited company operating in a specialist medical practice sector. While the company is active and compliant with filing deadlines, its latest financials show a decline in working capital, with net current liabilities of £5,063 as of January 2024. This indicates potential short-term liquidity pressure. The shareholders’ funds increased modestly to £1,267, showing some improvement in net assets, but the overall financial base remains very small. Given the limited scale of operations (one employee), and the low asset base, the company can service small credit facilities but with caution. Approval is conditional on monitoring liquidity closely and limiting exposure.

2. Financial Strength:
   The balance sheet shows fixed assets at £6,330 and current assets of £10,373 against current liabilities of £15,436, causing a net current liability position. The shareholders’ funds of £1,267 reflect modest net asset growth but the company remains thinly capitalized. There is a weakening in working capital compared to prior years when net current assets were slightly positive. The absence of significant retained earnings and minimal fixed assets implies limited cushion to absorb financial shocks. Overall, financial strength is weak but stable for a micro entity.

3. Cash Flow Assessment:
   Current liabilities exceed current assets, signaling potential cash flow constraints. The company’s liquidity position is tight, with a negative working capital of £5,063. This may challenge timely payment of short-term obligations without additional cash injections or credit lines. The small size and nature of the business likely mean cash flow depends heavily on ongoing client payments and minimal overhead costs. Close attention to receivables, payables, and cash flow forecasting is recommended.

4. Monitoring Points:

• Working capital and liquidity ratios
• Timely settlement of current liabilities
• Changes in shareholders’ funds and net assets
• Any increase in debt or credit facilities and their servicing
• Business volume growth and income stability in medical practice activities
• Compliance with filing deadlines and director conduct