MORE & MOORE CASH LIMITED

Risk Rating: LOW Justification: The company exhibits exceptional financial health with net assets exceeding £3 million, negligible liabilities, and a strong liquidity position. Filing and regulatory compliance are fully up to date. The primary risk stems not from financial distress, but from the opacity inherent in micro-entity reporting and the undisclosed nature of the business operations.

Key Concerns: - Opacity of Business Model: The accounts explicitly state that "No description of principal activities is disclosed." Coupled with the generic SIC code (82990 - Other business support service activities) and the company name including "Cash," the underlying business model and source of revenue generation remain unclear from the filed data. - Asset Composition and Valuation: Fixed assets constitute approximately 65% of total assets (£1.95M of £3.01M). Without detailed notes—which are exempt for micro-entities—it is impossible to determine whether these are property, financial investments, or other tangible/intangible assets, making it difficult to assess their realizable value or liquidity in a distressed scenario. - Limited Financial Transparency: As a micro-entity, the company files a stripped-down balance sheet. There is no Profit & Loss statement, no Cash Flow statement, and no disclosure of related party transactions or director loans. While the net asset growth suggests profitability, the lack of revenue and expense data obscures the operational sustainability and margin profile of the business.

Positive Indicators: - Exceptional Solvency and Liquidity: The company holds net current assets (working capital) of £1.06M against current liabilities of merely £27.8k. This represents an extraordinarily strong current ratio (approximately 38:1), indicating virtually no short-term liquidity risk. - Consistent Capital Accumulation: Net assets have grown steadily and significantly each year, rising from £1.04M in 2021 to £3.01M in 2025. This trajectory suggests a highly profitable business model or consistent capital injections/asset revaluations. - Strong Regulatory Compliance: The company has been active for over 20 years, its accounts and confirmation statements are filed on time, and it is not flagged as overdue for any statutory obligations. There are no records of director disqualifications.

Due Diligence Notes: - Investigate the source of the rapid asset growth. Determine whether the increase in net assets is driven by retained trading profits, revaluation of existing fixed assets (such as property), or capital contributions from directors/shareholders. - Seek clarification on the nature of the fixed assets and current assets. Given the company's name, ascertain if the company acts as a treasury vehicle, holds investment properties, or manages financial instruments. - Request internal management accounts or a Profit & Loss statement to understand the revenue streams, operating costs, and cash generation capability, as these are absent from the micro-entity filings. - Inquire about related party transactions. With two PSCs (Mr. Richard Moore and Mrs. Christine Moore) owning 25-50% each, understanding how the company interacts financially with its directors and any associated ventures is critical.