Company Number: 13758469

Analysis Date: 2025-07-29 18:57 UTC

1. Credit Opinion: DECLINE
   Pi-care Staffing Ltd exhibits significant balance sheet weakness with net liabilities of £4,434 at the latest year-end (Nov 2023) despite being a micro-entity. The company shows minimal current assets (£101) and current liabilities (£4,535) with no employees and no reported profit and loss data, indicating limited trading activity or operational scale. The negative net assets and absence of cash or working capital suggest poor ability to meet current obligations or service debt. Without evidence of revenue generation, profitability, or cash flow, the credit risk is high and approval for credit facilities is not recommended at this stage.

2. Financial Strength:
   The company’s financial position is fragile. Net liabilities increased from a positive net asset position of £1 in 2022 to a negative £4,434 in 2023. Fixed assets were £785 in 2022 but appear to have been written off or disposed of by 2023. Current assets remain negligible (£101), and current liabilities increased sharply to £4,535. This imbalance indicates a deteriorating financial condition with insufficient equity buffer and no retained earnings or reserves to absorb losses. The company is reliant on external support (notably from the sole shareholder Promoting Independent Care Ltd) for ongoing funding.

3. Cash Flow Assessment:
   There is no disclosed cash or cash equivalents, and minimal current assets versus current liabilities suggest liquidity constraints. The negative working capital position in 2022 turned slightly positive in 2023 due to the rise in current liabilities but is overshadowed by the overall net liabilities and absence of operational activity (0 employees). The lack of cash flow data and absence of trading results preclude any positive cash flow assessment. The company is likely dependent on shareholder loans or capital injections to meet short-term obligations.

4. Monitoring Points:

• Monitor subsequent filings for evidence of trading activity, revenue, and profitability.
• Track changes in net current assets and net liabilities to assess financial recovery or further deterioration.
• Review any related party transactions or financial support from Promoting Independent Care Ltd.
• Watch for director changes or any signs of restructuring or liquidation risk given the weak financial position.
• Confirm timely submission of accounts and confirmation statements to avoid compliance issues.