UK SPOTLESS HOLDINGS LIMITED

Executive Summary

UK Spotless Holdings Limited shows strong growth in net assets and working capital since incorporation, supported by a healthy balance sheet with no long-term debt. While the company operates at a micro scale with unaudited accounts, its liquidity position is robust, justifying credit approval subject to ongoing monitoring of liabilities and operational performance. Attention should be given to maintaining up-to-date filings and transparency as the business develops.

UK SPOTLESS HOLDINGS LIMITED - Analysis Report

Company Number: 13743660

Analysis Date: 2025-07-20 18:48 UTC

1. Credit Opinion: APPROVE with conditions

UK Spotless Holdings Limited demonstrates a solid financial position for a micro-entity with substantial net current assets and positive net assets. The company is relatively young, incorporated in late 2021, but shows significant growth in current assets and equity within three years. However, the accounts are unaudited and prepared under micro-entity accounting provisions, limiting transparency. Approval is recommended with conditions that ongoing monitoring of cash flow and timely account filings be maintained, and any material changes in liabilities or operational scale be reviewed.

2. Financial Strength

The company’s balance sheet as of 31 May 2024 shows fixed assets of £5,100 and current assets of £414,676 against current liabilities of £191,335, resulting in net current assets of £223,341 and total net assets of £228,441. This reflects a strong working capital position and a net asset base almost doubling from £128,700 in 2022. Shareholders’ funds entirely support the net assets, indicating no external long-term debt. The growth in current liabilities from £30,000 to £191,335 should be noted, but it is well covered by current assets, suggesting good short-term liquidity.

3. Cash Flow Assessment

The large positive net current assets indicate ample short-term liquidity to meet immediate obligations. The increase in current liabilities may reflect growth in trade creditors or short-term borrowings; however, the company’s current assets exceed liabilities by a significant margin, implying sufficient working capital. No audit means cash flow statements are unavailable, so cash conversion efficiency and debt servicing capacity should be confirmed through management discussions or bank statements. The single employee suggests a lean cost structure, which supports cash flow stability.

4. Monitoring Points

• Watch the composition and maturity profile of current liabilities to ensure they remain manageable.
• Verify continued growth in current assets and net assets to support business expansion.
• Monitor for any overdue filings or governance lapses given the company’s young age and micro-entity accounting.
• Keep track of director conduct and related party transactions, especially as control is concentrated within the Swire family.
• Review future financial statements for any signs of increased leverage or declining liquidity.