Company Number: 13152354

Analysis Date: 2025-07-29 21:00 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   PAIS PROPERTIES LTD is a very small, micro-entity operating in real estate letting and trading. The company shows modest but positive growth in net assets and net current assets over the last two years, indicating improving financial health. However, the absolute size of the balance sheet and capital base remains very small (£2,710 net assets in 2024), limiting financial resilience and borrowing capacity. The company is newly established (2021) and currently has only one employee, which suggests limited operational scale and a potential single point of dependency. Credit approval may be considered with restrictions on facility size and possibly requiring personal guarantees or collateral to mitigate risk.

2. Financial Strength:
   The balance sheet is very modest with net current assets increasing from £561 in 2023 to £2,710 in 2024. Current assets are primarily cash or equivalents (£3,662) with very low current liabilities (£967), resulting in positive working capital. No fixed assets or long-term liabilities are reported, which aligns with micro-entity status and the nature of the business. Shareholders’ funds increased substantially from £561 to £2,710, reflecting either retained earnings or additional capital infusion. Overall, the company has a sound but minimal financial base, typical for a micro real estate company in its start-up phase.

3. Cash Flow Assessment:
   Current assets exceed current liabilities by almost 3 times in 2024, suggesting good short-term liquidity. The increase in current assets from £845 to £3,662 year-on-year improves the company’s ability to meet short-term obligations and fund operations without reliance on external finance. The micro-entity accounts do not provide detailed cash flow statements, but the positive net current assets and low liabilities indicate manageable working capital and no immediate liquidity concerns.

4. Monitoring Points:

• Maintain or grow net current assets to ensure liquidity remains comfortable.
• Monitor cash flow closely given the small operational scale and single employee dependency.
• Watch for any increase in liabilities or adverse changes in credit terms with suppliers or tenants.
• Review any capital injections or retained earnings developments to assess ongoing financial support.
• Monitor director’s conduct and company filings for timely compliance and governance standards.