CHASE88 LIMITED
Company number 06674107 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Financial Health Assessment: CHASE88 LIMITED (06674107)
1. Financial Health Score: D — Critical Condition
This is a paradoxical patient. On paper, the company has a robust skeleton — £4.2m of net assets and almost no debt. But it shows no detectable trading pulse, no circulating cash, and — most alarmingly — is subject to an active Proposal to Strike Off, the corporate equivalent of a patient being wheeled toward the morgue while still technically alive. The grade reflects strong underlying solvency fatally undermined by compliance failure, zero liquidity, and an existential regulatory threat.
2. Key Vital Signs
| Vital Sign | Reading | Interpretation |
|---|---|---|
| Net Assets / Shareholders' Funds | £4,211,500 | Strong solvency — the body's core structure is sound |
| Net Current Assets (Working Capital) | (£78,500) | Negative — no blood circulating; short-term debts exceed short-term assets |
| Cash & Current Assets | £0 | Critical — no cash, no debtors, no stock reported at any year-end |
| Current Ratio | 0.0 (£0 vs £78,500 creditors) | Severe liquidity failure; healthy reading would be >1.5 |
| Gearing (Liabilities/Assets) | ~1.8% | Excellent — almost no leverage |
| Fixed Asset Concentration | 100% of assets | All value locked in illiquid fixed assets (£4,290,000) |
| Balance Sheet Movement | Zero for 10+ years | Identical figures 2015–2020; one step-change in 2021 (+£1,445,000); frozen again 2021–2024 |
| Compliance Status | Accounts overdue; Confirmation Statement overdue; Proposal to Strike Off | Acute regulatory distress |
| Employees | 10 (2023 & 2024) | Anomalous — no visible means of paying them (no cash, no turnover trail) |
3. Symptoms Analysis
Symptom 1 — No trading pulse. A genuine management consultancy (the stated SIC 70229) would show fluctuating debtors, cash, and creditors. Instead, every line item — including the oddly precise £78,500 creditor — is identical year after year for a decade. This is the financial signature of an asset-holding shell, not an operating consultancy. A static creditor of £78,500 for ten years looks like a fixed loan or intercompany balance, not trade debt.
Symptom 2 — Zero liquidity. The company owes £78,500 within one year and holds no current assets whatsoever to pay it. It cannot settle short-term obligations without selling or mortgaging fixed assets, or injecting funds.
Symptom 3 — Unexplained 2021 transfusion. Fixed assets jumped £1,445,000 between 2020 and 2021 with a matching rise in shareholders' funds — consistent with a revaluation or asset injection, but micro-entity accounts provide no explanation.
Symptom 4 — The employee paradox. Ten employees are disclosed, yet there is no cash, no debtor balance, and no visible revenue stream at any year-end. Either payroll is funded by a related entity, or the disclosure is inaccurate — both warrant scrutiny.
Symptom 5 — Regulatory fever. Overdue filings plus an active strike-off proposal indicate either administrative neglect or a deliberate wind-down being executed carelessly.
4. Diagnosis
Primary diagnosis: Asset-rich, cash-poor entity in acute compliance distress, with an active existential threat.
The company is technically solvent but functionally inert — a comatose patient with a strong heart. The balance sheet resembles a property or investment-holding vehicle rather than the consultancy it claims to be. The Proposal to Strike Off is the dominant clinical fact: if the company is dissolved while holding £4.29m of assets, those assets pass to the Crown as bona vacantia (ownerless property), and shareholders — including PSC name shown to subscribers (25–50%) — stand to forfeit roughly £4.2m of value. Restoration after dissolution is possible but slow, costly, and uncertain.
Prognosis: Guarded to poor without immediate intervention. If the strike-off is discontinued and compliance restored, the entity survives as a solvent but dormant-style holding vehicle, though the liquidity gap persists. If the strike-off proceeds to dissolution, the outcome is the loss of the entire asset base to the Crown — an entirely preventable catastrophe.
5. Recommendations
Immediate (within days): 1. Identify the strike-off type. If compulsory (Companies House-initiated for non-filing), file all overdue documents and contact Companies House immediately to suspend the action. If voluntary (DS01), the directors must not allow dissolution while assets remain — extract or transfer the £4.29m first. 2. File the overdue accounts and confirmation statement. The 2024 accounts were approved 28 September 2025 — two days before deadline — suggesting last-minute firefighting; the confirmation statement remains outstanding per the record. 3. Notify creditors. Any party owed part of the £78,500 should formally object to the strike-off via the Gazette notice — this halts the process.
Short-term (30–90 days): 4. Resolve the liquidity wound: inject capital, settle the £78,500 creditor, or secure borrowing against the fixed assets. 5. Take professional advice on orderly options — most notably a Members' Voluntary Liquidation (MVL), which would allow tax-efficient distribution of the £4.2m to shareholders if the company's purpose has ended. This is far safer than a strike-off with assets in situ. 6. If the company is genuinely inactive, declare dormancy properly and maintain minimal compliant filings rather than drifting into compulsory strike-off.
Structural/governance: 7. Reconcile the SIC code with reality. If this is an asset/property-holding vehicle, update the classification (e.g., SIC 68xxx) and confirm the micro-entity filing basis remains valid. 8. Verify the employee disclosure (10 staff) and document how payroll is funded. 9. Document the 2021 asset uplift (£1.445m) — stakeholders and any future buyer or liquidator will demand an explanation.