Company Number: 13665336

Analysis Date: 2025-07-29 15:16 UTC

1. Credit Opinion: APPROVE
   S & P CARE LTD shows a positive and improving financial position with strong net current assets and net assets growth over the latest year. The company is a micro entity operating in dental practice activities with no overdue filings or indications of distress. The presence of two controlling shareholders with direct involvement as director and PSCs suggests stable management. Given the limited liabilities and improving balance sheet, the company is assessed capable of servicing debt obligations at a modest facility level.

2. Financial Strength:
   The balance sheet demonstrates strengthening financial health. Net assets increased from £8,302 in 2022 to £24,616 in 2023, a nearly threefold improvement primarily driven by growth in current assets (£15,051 to £34,041) and controlled current liabilities (£8,927 to £10,517). Fixed assets are minimal and have slightly decreased, indicating limited capital expenditure requirements. Shareholders’ funds mirror net assets, reflecting no significant external debt. Overall, the company is conservatively financed with a solid equity base for a micro entity.

3. Cash Flow Assessment:
   The current ratio is approximately 3.24 (34,041/10,517), indicating good short-term liquidity and working capital adequacy to meet current liabilities. Net current assets of £23,524 provide a comfortable buffer for operational needs. With only one employee and no audit requirements, operating cash flow demands are likely low, supporting reliable cash conversion. There is no evidence of cash flow strain or reliance on external funding.

4. Monitoring Points:

• Maintain vigilance on cash flow cycles, particularly as the company grows or adds staff.
• Watch for any changes in current liabilities that may pressure liquidity.
• Monitor timely filing of accounts and confirmation statements to avoid compliance risks.
• Track any changes in ownership or directorship that could impact governance or financial stewardship.
• Assess impact of market or regulatory changes in dental practice sector on revenue stability.