COUTTS & PARTNERS LLP
Company number OC400883 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Credit Assessment: COUTTS & PARTNERS LLP
1. Credit Opinion: DECLINE
Reasoning: This entity is fundamentally insolvent on both a balance sheet and cash flow basis. Net liabilities have deteriorated from (£42,396) to (£43,096), current liabilities exceed current assets by over £33,000, and cash reserves are insufficient to service even near-term obligations. The absence of any visible revenue stream, zero employees, and no stated principal activity indicate this is either a dormant vehicle or a non-trading entity with accumulated losses. There is no reasonable prospect of debt service capacity.
2. Financial Strength: Critically Weak
Balance Sheet Deterioration:
| Metric | 2025 | 2024 | 2022 |
|---|---|---|---|
| Net Assets | (£43,096) | (£42,396) | £10,648 |
| Current Ratio | 0.37x | 0.47x | N/A |
| Cash | £3,953 | £4,234 | £4,295 |
The trajectory is unambiguous: net assets have moved from a marginal positive position (£888 in 2021) to deep insolvency. The entire asset base (£19,339) is dwarfed by total liabilities (£52,794 current + £9,641 non-current = £62,435).
Capital Structure Concerns: - Members' capital of £37,680 is classified as a liability and has remained unchanged year-on-year, suggesting no fresh capital injection or repayment - Accumulated losses have grown from (£4,716) to (£5,416) in members' other interests - The LLP structure means members have limited liability, but the negative equity position provides no buffer for creditors
Creditor Exposure: - Other creditors have increased by 38.6% (£26,101 → £36,166) — this suggests unpaid trade or related-party obligations are accumulating - Bank debt totals £19,909 across current and non-current — the non-current portion has reduced (£19,908 → £9,641), indicating scheduled repayments rather than refinancing
3. Cash Flow Assessment: Inadequate
Liquidity Position: - Cash of £3,953 against current liabilities of £52,794 provides coverage of just 7.5% - Current assets of £19,339 (predominantly debtors at £15,386) against £52,794 current liabilities yields a current ratio of 0.37x — critically below the 1.0x threshold - No fixed assets exist, meaning no collateral available for secured lending
Debtor Quality Risk: - Debtors represent 80% of current assets (£15,386 of £19,339) - With no revenue data filed, there is no visibility on debtor days or collectability - If debtors prove impaired, the cash position becomes even more precarious
Working Capital Deficit: - Net current liabilities of (£33,455) represent a severe working capital shortfall that has worsened by 49% from (£22,488) in 2024
4. Monitoring Points
If any credit exposure already exists, the following require urgent attention:
| Metric | Current | Risk Threshold | Status |
|---|---|---|---|
| Net Assets | (£43,096) | Positive | ⚫ Critical |
| Current Ratio | 0.37x | >1.0x | ⚫ Critical |
| Cash / Current Liabilities | 7.5% | >20% | ⚫ Critical |
| Creditor Growth (YoY) | +38.6% | <5% | ⚫ Critical |
Key Watch Items: 1. Creditor accumulation — Other creditors growing at 38.6% annually with no visible revenue suggests potential related-party lending or unpaid obligations that could crystallise 2. Debtor realisation — £15,386 in debtors needs verification; any write-off would eliminate remaining liquidity 3. PSC discrepancy — Jeremy Duncan Maclean Clark holds 25-50% voting rights as a PSC but is not listed as an officer; clarify his involvement and whether related-party transactions are driving creditor growth 4. Activity status — "No description of principal activity" and zero employees raises questions about whether this entity is trading at all 5. Accounts filing — While currently up to date, monitor for any late filings which could signal financial distress or disengagement