Company Number: 15075157

Analysis Date: 2025-07-29 12:18 UTC

1. Risk Rating: HIGH
   LP SD One Hundred Limited exhibits a high risk profile due to significant negative net current assets and net liabilities shortly after incorporation, indicating potential solvency and liquidity challenges.

2. Key Concerns:

• Negative Working Capital: Current liabilities (£176,905) exceed current assets (£111,490) by £65,415, signaling a working capital deficit that could impair the company’s ability to meet short-term obligations.
• Net Liability Position: Shareholders’ funds are negative (£-65,415), reflecting accumulated losses or undercapitalization, which is a critical solvency red flag.
• Limited Operating History: Incorporated in August 2023 with accounts covering just over one year, the company’s financial track record is very limited, restricting confidence in operational sustainability.

3. Positive Indicators:

• Active Status and Compliance: The company is active with no overdue filings for accounts or confirmation statements, indicating good regulatory compliance to date.
• Group Support Potential: 100% ownership by SNJ Health Limited and Lloyds Pharmacy Limited suggests possible access to group resources or financial backing, which may support liquidity and operational needs.
• Clear Accounting Policies and Small Entities Reporting: Use of FRS 102 section 1A and exemption from audit is appropriate for size and may reduce administrative burden.

4. Due Diligence Notes:

• Clarify Nature of Debtors: Trade debtors are £30,578, but other debtors total £73,976; investigation into the collectability and aging of these receivables is critical to assess liquidity risk.
• Examine Cash Flow Projections: With only £3 in cash reported, it is important to review cash flow forecasts or group funding arrangements to confirm the company can meet immediate liabilities.
• Understand Loss Drivers: Explore underlying reasons for negative equity—whether initial start-up losses, capital structure decisions, or other factors—and evaluate management’s strategy for returning to profitability.
• Review Related Party Transactions: Given the exemption for related party disclosures within the group, further transparency on intercompany balances or funding arrangements would be prudent.
• Assess Director Experience and Governance: The current director was appointed recently; reviewing their experience and governance practices may provide insight into operational stability.