Company Number: 14923758

Analysis Date: 2025-07-19 12:13 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Concentrar Ltd is an active private limited company incorporated recently in June 2023, operating in quantity surveying services (SIC 74902). The company’s financials show a very modest net asset base (£43) and minimal cash reserves (£1,721) as at 31 July 2024, with current liabilities nearly matching current assets. While the company reported a positive profit during the year (£58,193), this was almost entirely distributed as dividends, leaving retained earnings nearly neutralized. Given its very early stage of operation and small scale, credit risk is elevated. Approval is conditional on close monitoring and limited exposure, as the company currently demonstrates minimal financial cushion and working capital buffer to absorb shocks or delayed payments.

2. Financial Strength:
   The balance sheet reveals a fragile financial position with total net assets of only £43, reflecting a very thin equity base. Share capital stands at £100, and the accumulated deficit in the profit and loss account is -£57 after dividend payments. Current liabilities (£37,289) are almost equal to current assets (£37,332), resulting in negligible net current assets (£43). There are no fixed assets, indicating reliance on working capital and receivables. The company’s financial strength is weak due to its infancy, limited capitalization, and lack of reserves.

3. Cash Flow Assessment:
   Cash on hand is low at £1,721, indicating limited liquidity. Debtors (£35,611) form the bulk of current assets, suggesting a dependency on timely collection of receivables to meet liabilities. Creditors due within one year are £37,289, including a significant £26,414 for taxation and social security, which could pressure cash flows. The near break-even working capital position implies minimal cushion for operational delays or unexpected expenses. Cash flow risk is high, and the company may require additional capital injections or improved debtor management to sustain operations.

4. Monitoring Points:

• Debtor collection efficiency and aging to ensure timely cash inflows.
• Management of tax and social security liabilities to avoid cash flow strain or penalties.
• Future profit retention policy to build reserves and improve equity base.
• Any changes in director or shareholder structure, especially given sole control by Mr Paul Maddern.
• Filing of next accounts and confirmation statements on time to maintain compliance and transparency.
• Impact of market conditions on quantity surveying demand and contract pipeline.