Company Number: 13510118

Analysis Date: 2025-07-29 16:41 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   A.S. Brill & Co Limited demonstrates improving financial health with a strong turnaround in net assets and working capital compared to prior years. However, the company is relatively young (incorporated 2021) and operates in a niche legal services sector (SIC 69109), which may face fluctuating demand. The director holds full control and is experienced professionally, but limited trading history and concentrated ownership elevate risk. Approval is recommended with conditions to monitor ongoing cash flow and creditor levels closely.

2. Financial Strength:
   The balance sheet indicates significant positive progression over the last period. Net assets improved markedly from £1,558 (July 2023) to £94,800 (December 2024). Fixed assets are modest (£7,643) reflecting a service-based business with low capital intensity. The company holds equity capital of £1 (nominal) but retains substantial accumulated profits. The current asset base (£181,338) comfortably covers current liabilities (£94,181), yielding a healthy net current asset position (£87,157). The increase in corporation tax creditors (£67,375) suggests recent profitability but also a sizeable tax liability to manage.

3. Cash Flow Assessment:
   Cash balance declined from £119,144 to £77,318 year on year, which warrants attention but is offset by higher trade debtors (£104,020). Debtor collection and cash conversion cycles should be monitored to avoid liquidity strain. Current liabilities have reduced substantially from the previous period, improving short-term solvency. The director’s loan account balance is minimal (£42), indicating limited reliance on director funding. Overall, liquidity appears adequate but requires continued oversight given the cash reduction.

4. Monitoring Points:

• Trade debtor aging and recovery rates to ensure timely cash inflows.
• Corporation tax and other tax liabilities for payment compliance and cash impact.
• Net current asset trends to detect any deterioration in working capital.
• Profitability trends to confirm sustainable cash generation given the young company status.
• Director’s loan account and related party transactions for financial stability.