Company Number: 14046838

Analysis Date: 2025-07-20 11:54 UTC

1. Credit Opinion: APPROVE with conditions.
   MAXIMUS (NORTH) LTD is a recently incorporated micro-entity with a positive net asset position and improving working capital. The company shows growth in net current assets and shareholders' funds over two years, indicating sound financial stewardship and a stable business trajectory. However, the limited scale of operations (one employee, no fixed assets) and relatively modest asset base suggest a cautious approach. Approval should be contingent on continued monitoring of cash flow and receivables, as well as confirmation of stable revenue streams given the micro-entity status and early stage of business development.

2. Financial Strength:
   The balance sheet demonstrates incremental growth from £20,065 in net assets in 2023 to £30,568 in 2024. The company holds no fixed assets, which limits collateral value but also indicates low capital expenditure and potentially lower financial risk from depreciation or asset impairments. Current assets increased by approximately 40%, and current liabilities have grown only moderately, yielding net current assets of £38,108. Shareholders' funds entirely cover net liabilities, reflecting a clean equity base with no long-term debt or provisions. Overall, the financial position is stable but modest in scale.

3. Cash Flow Assessment:
   The net current assets position and positive working capital suggest adequate short-term liquidity to meet obligations. The increase in creditors and accruals is moderate and consistent with business growth. However, the absence of detailed cash flow statements and profit & loss data limits deeper analysis. Given the company’s micro size and sole director/shareholder control, cash flow risks may be manageable but require monitoring, especially to ensure timely collection of receivables and control of payables.

4. Monitoring Points:

• Track net current assets and liquidity ratios quarterly to ensure continued positive working capital.
• Monitor turnover growth and profitability to validate sustainability beyond initial capital injections.
• Watch for any increase in liabilities or delays in creditor payments which could signal cash flow stress.
• Review director’s future filings for any changes in company structure or financial strategy.
• Confirm the continuation of contracts or revenues in the business support and private security sectors to sustain cash inflows.