Company Number: 14688237

Analysis Date: 2025-07-29 13:41 UTC

1. Credit Opinion: CONDITIONAL APPROVAL
   The Maxwell Practice Ltd is a newly incorporated micro-entity operating in the general medical practice sector. While it shows positive net current assets and no overdue filings, the company is in its first full year of accounts with limited financial history and modest net assets (£7,144). The presence of a £45,000 long-term creditor indicates some debt exposure that requires careful monitoring. Given the early stage of operations and limited financial track record, credit approval should be conditional on ongoing financial performance reviews and confirmation of stable cash flows.

2. Financial Strength:
   The balance sheet shows total fixed assets of £17,535, current assets of £36,327, and current liabilities of £1,728. The net current assets position is strong at £34,599, indicating healthy short-term liquidity. However, there is a significant creditor amounting to £45,000 due after more than one year, which impacts net assets, reducing total equity to £7,144. The company’s small capital base and micro-entity status limit its financial buffer. The shareholders' funds reflect limited retained earnings or capital injection so far, typical for a start-up.

3. Cash Flow Assessment:
   Current assets mainly consist of cash and short-term receivables sufficient to cover current liabilities, implying adequate working capital management at present. The small size of the company (average 2 employees) suggests relatively low fixed overheads. However, the long-term creditor implies future cash outflows that need to be planned for. No profit and loss account was filed, so profitability and operating cash flow trends are unknown, which increases credit risk. Close attention should be paid to cash generation capacity in subsequent periods.

4. Monitoring Points:

• Timely filing of next accounts and confirmation statements to maintain good compliance status.
• Tracking cash flow and profitability as subsequent accounts are filed to confirm ability to service debt.
• Monitoring the status and terms of the £45,000 long-term creditor to assess refinancing or repayment risk.
• Observing any changes in director or PSC structure that could affect governance or financial support.
• Market conditions in the private GP sector and any operational expansions impacting financial performance.