Company Number: 14098328

Analysis Date: 2025-07-29 12:25 UTC

1. Risk Rating: MEDIUM
   The company shows positive net assets and working capital, indicating solvency at the reporting date. However, the small size and relatively low cash reserves combined with growing current liabilities warrant caution. The risk is moderate given limited financial scale and history.

2. Key Concerns:

• Increasing current liabilities: Current liabilities rose from £8,793 in 2023 to £15,213 in 2024, a 73% increase, which could pressure liquidity if not managed properly.
• Limited cash buffer: Though cash increased to £20,125, it remains modest relative to liabilities, suggesting tight operational liquidity.
• Minimal employee base: Having only one employee on average in 2024 (down from two previously) may limit operational capacity and scalability.

3. Positive Indicators:

• Positive net current assets (£4,912) and net assets (£6,616), showing the company can cover short-term obligations as of the last accounts.
• No overdue filings and compliance with statutory deadlines, demonstrating good regulatory adherence.
• Ownership and control concentrated in a single director/PSC, which may facilitate decisive management and governance.

4. Due Diligence Notes:

• Investigate the nature and terms of the increased current liabilities, especially the rise in “other creditors” from £2,804 to £10,246.
• Review cash flow statements and forecasts to assess ongoing liquidity and ability to service liabilities.
• Understand the business model’s sustainability given the minimal workforce and whether any outsourcing or contractors are used.
• Confirm absence of contingent liabilities or off-balance-sheet risks not visible in the accounts.
• Evaluate the impact of the recent name change from SIENNA MEDICAL LIMITED to YOURPHYSIO LTD for any operational or reputational implications.