Company Number: 13526575

Analysis Date: 2025-07-20 18:54 UTC

1. Risk Rating: HIGH
   The company exhibits a persistent and significant negative net current asset position and very tight equity, indicating solvency and liquidity risks. Despite being active and up to date with filings, the financials suggest potential ongoing financial stress that would concern investors.

2. Key Concerns:

• Negative Working Capital: The company’s net current liabilities consistently exceed £390k over multiple years, suggesting an inability to meet short-term obligations from current assets.
• Minimal Shareholders’ Funds: Equity remains very low (£4,907 in 2024), barely positive and only slightly improved from a negative position in 2021, indicating limited buffer against losses or creditor claims.
• No Employees and Limited Operational Data: The company reports zero employees and minimal operational disclosures, raising questions about ongoing business activity and revenue generation capabilities necessary for sustainability.

3. Positive Indicators:

• Timely Filing and Compliance: The company is current on both accounts and confirmation statement filings, indicating regulatory compliance and good governance practices.
• Stable Fixed Asset Base: Fixed assets remain stable at approximately £396,832, which might represent property or long-term investments providing some asset backing.
• Established Directors and Clear Control: Two directors with significant control have been in place since incorporation, suggesting stable management and transparent ownership.

4. Due Diligence Notes:

• Investigate Nature and Marketability of Fixed Assets: Confirm the type, valuation, and liquidity of fixed assets to assess potential collateral value or realizable assets in distress scenarios.
• Review Cash Flow and Debt Terms: Understand creditor composition and repayment terms to evaluate immediate liquidity pressures and refinancing risks.
• Assess Business Model and Revenue Streams: Clarify how the company generates income given no employees and negative working capital, to gauge operational viability.
• Examine Related Party Transactions: Given the directors’ significant shareholdings and the small equity base, review any transactions or loans involving related parties.