UNIQUE COPIERS LIMITED

Risk Rating

HIGH – The company’s shareholders’ funds have been deeply negative since 2021, with a net deficit of £144,761 and negative working capital. Cash reserves are negligible at £44. The business is dependent on continued director support for its going-concern assumption, which carries material solvency risk.

Key Concerns

1. Severe Negative Net Worth
   Net assets fell from +£17,917 (2020) to –£144,761 (2021), driven by a £162,000 swing in net current assets from positive to negative. Shareholders’ funds are now deeply negative, indicating accumulated losses have eroded all equity.

2. Liquidity Crisis
   Current liabilities (£224,001) exceed current assets (£151,778) by £72,223. Cash at bank is only £44. Even if all debtors were collected, the company lacks the liquidity to meet near-term obligations without external support.

3. Large Director’s Loan in Debit
   The director, Xxxxxx Xxxxxxxxname shown to subscribers, owed the company £108,657 at 31 December 2021 (up from £46,183 in 2020). This is a significant sum relative to net liabilities and raises governance concerns. If the loan is not recoverable, the company’s solvency position is even worse.

Positive Indicators

• Long Operating History – Incorporated in 1998, the company has traded for over 25 years, suggesting an established market presence in office equipment wholesaling.
• Filing Compliance – All statutory filings (accounts and confirmation statements) appear up to date as of the latest data, with no overdue returns.
• Continued Active Status – The company is not in liquidation, administration, or receivership, and remains registered as active.

Due Diligence Notes

• Going Concern Qualification – The accounts explicitly state they are prepared on a going concern basis only on the understanding that directors and shareholders will continue to provide financial support. An investor should request a written commitment or formal agreement detailing the amount and duration of this support.
• Director Loan Recoverability – The director’s loan of £108,657 is classified as a debtor. Clarify the repayment terms, security (if any), and whether the director has the personal liquidity to honour the debt. Under UK company law, such loans must be disclosed and may require shareholder approval.
• Long-Term Creditors – £78,564 is due after more than one year. Identify the nature (e.g., bank loans, finance leases) and the repayment schedule to assess whether refinancing risk exists.
• Recent Financial Trends – Financial data are only available up to 2021. Request the 2022–2025 accounts to determine if the position has stabilised or worsened. The latest filed accounts (per Companies House) are for the year ending 31 December 2025; these should be reviewed immediately.
• Director Conduct Checks – No disqualification records are flagged in the data, but given the director’s large debit balance, a formal director conduct search via the Insolvency Service is advisable.

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