Company Number: 13678517

Analysis Date: 2025-07-29 19:25 UTC

1. Credit Opinion:
   APPROVE with caution. Bethell & Co Limited is a micro-entity architectural firm with steady balance sheet improvement over the last two years. The company shows positive net current assets and net assets, indicating modest financial strength for its size. However, the overall scale is very small with limited fixed assets and only one employee, suggesting limited operational capacity and exposure to business risk. The director holds full control, which centralizes decision-making but may increase governance risk. No adverse filing history or director disqualifications were noted.

2. Financial Strength:
   The company’s net assets increased from £189 in 2023 to £800 in 2024, reflecting an improvement in retained earnings or equity injection. Net current assets rose from £893 to £1,584, showing enhanced working capital. Fixed assets remain minimal (£320), consistent with the nature of an architectural consultancy that likely relies on intellectual capital rather than physical assets. Current liabilities have decreased significantly, improving liquidity ratios. Overall, the balance sheet is healthy for a micro-entity but remains modest in size and scope.

3. Cash Flow Assessment:
   Current assets mainly consist of cash and receivables (£2,685), comfortably covering current liabilities (£1,101). This results in a net current asset position of £1,584, indicating sufficient short-term liquidity to meet obligations. The company’s working capital position has improved year-on-year, reducing risk of cash flow stress. However, absence of detailed profit and loss data limits insight into operational cash generation. The one-employee structure suggests low overheads, which supports lean cash flow requirements.

4. Monitoring Points:

• Track future filing compliance and timely submission of accounts and confirmation statements to avoid regulatory issues.
• Monitor net assets and working capital trends for any signs of deterioration, especially if growth initiatives increase liabilities.
• Watch for changes in director or ownership structure that may impact governance or financial policies.
• Review any expansion in fixed assets or employee count that could increase financial risk without proportional revenue growth.
• Request more detailed profit & loss information and cash flow statements when available to better assess operational performance.