Company Number: 13295988

Analysis Date: 2025-07-20 14:47 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   Property Master (Brokers) Limited presents a modest but improving financial position with positive net current assets and shareholders’ funds as of 31 March 2024. However, the company is relatively young (incorporated in 2021) and small in scale, with limited historical financial data. Significant related party transactions and balances (both receivables and payables) involving entities linked to the director highlight potential concentration risk and reliance on intra-group dealings. Approval is recommended subject to ongoing monitoring of cash flow and confirmation that related party balances are settled in a timely manner. The absence of an audit and reliance on unaudited accounts warrants cautious credit exposure.

2. Financial Strength:
   The balance sheet shows total current assets of £125,908 against current liabilities of £101,054, resulting in net current assets (working capital) of £24,854. Shareholders’ funds equal net assets at £24,854, indicating no long-term debt and a clean capital structure. The company has minimal fixed assets and a very small share capital (£1.00), consistent with a micro or small enterprise profile. The increase from nominal net assets in prior years to positive net assets in 2024 demonstrates early-stage growth and capital accumulation. However, the company’s financial strength is constrained by its size and reliance on related party transactions.

3. Cash Flow Assessment:
   Cash holdings are relatively low at £19,721, which may limit liquidity for unexpected demands. Current liabilities include £54,037 in taxation and social security, which could strain cash flow if not managed carefully. Debtors of £106,187 are significant and largely composed of related party receivables, which may present collection risk if those parties face financial difficulties. Net current assets provide a buffer, but the company should focus on converting receivables to cash promptly. Working capital management is critical to ensure ongoing ability to meet short-term obligations.

4. Monitoring Points:

• Timely collection of trade and related party debtors, especially the large amounts owed by associated companies.
• Management of taxation and social security liabilities to avoid cash flow pressures.
• Any changes in related party transactions or director’s involvement that could impact financial stability.
• Evidence of diversification of customer base and income streams beyond related party business.
• Timely filing of accounts and confirmation statements to maintain compliance and transparency.