Company Number: 13506678

Analysis Date: 2025-07-20 13:42 UTC

1. Risk Rating: MEDIUM

Justification: Suppleo Recruitment Ltd demonstrates a positive net asset position and consistent shareholder equity, indicating solvency. However, there is a notable decline in cash and net current assets from 2023 to 2024, accompanied by increasing long-term creditors and relatively high operating lease commitments. The company is relatively young and still growing, with an increase in employees, but the reduced liquidity and creditor profile present moderate risks.

2. Key Concerns:

• Liquidity Decline: Cash decreased significantly from £291,517 in 2023 to £188,992 in 2024, and net current assets fell from £149,625 to £76,074, signaling possible cash flow pressure.
• Increasing Long-Term Creditors: Creditors due after one year decreased but remain material at £34,664, requiring scrutiny of repayment terms and potential refinancing risks.
• Concentrated Control and Director Turnover: Significant shareholding is concentrated among a few individuals with some recent director resignations; governance stability and management continuity should be confirmed.

3. Positive Indicators:

• Positive Net Assets: The company maintains net assets of £117,853, supporting solvency and shareholder equity.
• Timely Filing: Accounts and confirmation statements are up to date, indicating regulatory compliance.
• Growing Workforce: Employee numbers increased from 14 to 17, suggesting business expansion and operational stability.
• Tangible Fixed Assets: The company holds tangible fixed assets valued at £101,643, providing operational capacity and some collateral value.

4. Due Diligence Notes:

• Review cash flow statements and working capital management to understand causes of cash reduction and assess sustainability.
• Clarify the nature, terms, and repayment schedule of long-term creditors and operating lease obligations.
• Investigate director and PSC changes, including the impact of recent resignations on corporate governance.
• Assess revenue trends and profitability, which are not disclosed, to evaluate ongoing operational viability.
• Verify whether the company has any contingent liabilities or off-balance sheet exposures not visible in the accounts.