Company Number: NI701162

Analysis Date: 2025-07-29 16:40 UTC

1. Risk Rating: LOW to MEDIUM
   Given the company’s very recent incorporation (August 2023) and first year financials showing positive net current assets and shareholders’ funds, the risk appears low at present. However, the limited operating history and modest asset base warrant a cautious outlook, hence a LOW to MEDIUM risk rating.

2. Key Concerns:

• Limited Operating History: Being less than 2 years old, the company lacks a track record to assess operational sustainability or profitability trends.
• Modest Asset Base and Capitalization: Fixed assets of £2,858 and share capital of only £100 indicate a small scale operation with limited financial cushion.
• Finance Lease Obligations: Current liabilities include £2,658 of finance lease obligations due within one year, which could pressure cash flows if revenue generation is not robust.

3. Positive Indicators:

• Positive Net Current Assets: £3,100 in net current assets suggests the company currently has liquidity to meet short-term obligations.
• No Overdue Filings or Compliance Issues: Accounts and confirmation statements are filed on time, indicating good regulatory compliance.
• Clear Shareholder Control Structure: Two PSCs controlling 25-50% shares each, with no indication of complex ownership or governance issues.

4. Due Diligence Notes:

• Revenue and Profitability Details: The accounts omit profit and loss details; further review is needed to understand turnover, margins, and cash flow from operations.
• Contractual Obligations: Assess the nature and terms of finance leases and other creditors to evaluate ongoing cash commitments.
• Business Model and Market: Clarify the primary revenue sources, client base, and sustainability of the engineering and consultancy activities given the SIC codes.
• Director Backgrounds: While no red flags are evident, further background checks on directors, including any related party transactions, would be prudent.