Company Number: 13325179

Analysis Date: 2025-07-29 18:13 UTC

1. Credit Opinion: APPROVE with conditions
   MATHERCARE LIMITED is a very young micro-entity operating since 2021 in the social work sector. The company shows a positive net asset position of £6,727 as of April 2024, an improvement from a nominal equity base of £1 in prior years. This signals early-stage capital accumulation and some operational progress. However, the scale of operations remains very small with limited financial data and no employees reported. Credit approval should be conditional on ongoing monitoring of financial performance and cash flow generation given the company's infancy and limited historical track record.

2. Financial Strength:
   The balance sheet at April 2024 shows current assets of £10,259 against current liabilities of £3,532, resulting in net current assets (working capital) of £6,727 and an equal net asset base. This indicates a modestly positive short-term liquidity position and no long-term liabilities. The company’s capital structure is minimal with share capital at £1 and all equity generated through retained earnings or reserves. Overall financial strength is weak but stable for a micro-entity at this stage, with no signs of distress or over-leverage.

3. Cash Flow Assessment:
   Reported cash on hand is minimal (£1), which is typical for micro-entities filing under the FRS 105 regime without detailed cash flow statements. The positive net current assets suggest the company can meet short-term obligations, but the actual liquidity buffer is tight. Working capital is positive, but small absolute values mean cash flow volatility could pose risks. Close attention should be paid to cash conversion cycles, debtor collections, and creditor terms to ensure ongoing liquidity.

4. Monitoring Points:

• Track subsequent annual accounts for revenue growth, profitability, and cash balances to gauge operational scaling.
• Monitor director changes and control shifts, especially given the recent appointment of Sophie Chantelle Mather as director and majority shareholder.
• Watch for any overdue filings or compliance issues that could signal governance weaknesses.
• Evaluate any changes in the social work sector regulatory environment impacting the company’s business model or funding.
• Assess any material changes in working capital components to detect liquidity stress early.