Company Number: 13006436

Analysis Date: 2025-07-20 14:37 UTC

1. Credit Opinion: APPROVE

Securus Recruitment Ltd demonstrates sound financial health with solid working capital and positive net assets growth over recent years. The company operates in the recruitment sector with a stable client base and has no overdue filings or regulatory concerns. Directors hold significant ownership stakes and appear actively engaged in company oversight. There are no signs of financial distress or liquidity issues that would impair the company’s ability to service credit facilities. Approval is recommended, subject to standard monitoring.

2. Financial Strength:

• The company’s net assets have increased from £11,631 in 2020 to £136,594 in 2023, reflecting consistent retained earnings accumulation.
• Share capital is minimal (£200), typical for a private limited company, with shareholders’ funds comprising mainly retained profits.
• Current assets stand at £176,881, with cash representing the majority (£158,701), indicating a strong liquidity position.
• Current liabilities have decreased from £59,835 in 2022 to £41,160 in 2023, improving net current assets to £135,721.
• Tangible fixed assets are negligible (£873), implying low capital expenditure and limited fixed asset depreciation burden.

3. Cash Flow Assessment:

• Cash reserves are robust and have grown steadily, providing ample liquidity to meet short-term obligations.
• Debtors are low (£18,180) and manageable relative to current liabilities, suggesting efficient collections.
• The company’s net current assets position is strong, ensuring sufficient working capital.
• No indication of reliance on external borrowings or overdrafts; cash balances suggest internally generated funds support operations.
• Tax and social security liabilities have reduced, reflecting possibly improved tax planning or profitability.

4. Monitoring Points:

• Continue monitoring debtor ageing to ensure timely collections and avoid liquidity strain.
• Watch for any significant increase in current liabilities, especially taxation and social security obligations.
• Track cash flow trends alongside profitability once income statements become available to confirm sustainable margins.
• Monitor sector developments in recruitment services for potential impacts on revenue streams.
• Review director changes or PSC updates that may affect company governance or control.