WEALTHTIME LIMITED

Risk Rating: MEDIUM
The company remains solvent on its 2020 filings, with cash comfortably covering current liabilities, and it is fully compliant with filing obligations. However, the sharp decline in net assets and cash between 2019 and 2020 signals a material adverse event that cannot be ignored. The lack of recent financial data (only 2020 accounts provided) and a complex ownership structure elevate uncertainty, justifying a medium risk rating.

Key Concerns
1. Significant Financial Contraction (2019–2020) – Net assets fell from £6.7M to £3.8M, cash halved from £6.4M to £2.99M, and retained earnings dropped by over £3.2M. This could reflect a large trading loss or a substantial dividend payout; either scenario requires explanation.
2. Complex PSC Structure – Control is held through a trust and a corporate entity (Alvarium Re Limited) with the individual Xxxxxx Xxxxxxxxname shown to subscribers acting as trustee. This arrangement obscures ultimate beneficial ownership and introduces additional due diligence complexity.
3. Limited Recent Financial Visibility – The most recent filed accounts provided are for year‑end 2020, yet the company has filed accounts up to 2025. Without access to these later statements, it is impossible to assess whether the business has stabilised, recovered, or deteriorated further.

Positive Indicators
- Strong Liquidity (2020) – Cash of £2.99M was nearly four times current liabilities (£742k), providing a solid short‑term buffer.
- Full Regulatory Compliance – Accounts and confirmation statements are up to date with no overdue filings, indicating disciplined administrative practices.
- Experienced Management Team – The board includes a CEO, COO, Legal Director, and a dedicated Risk and Compliance Manager, reflecting a structured governance framework appropriate for a financial services firm.
- Long Operational Track Record – Incorporated in 2006, the company has operated for nearly two decades, suggesting resilience and market acceptance.

Due Diligence Notes
- Obtain and review filed accounts for 2021–2025 to evaluate financial trends, profitability, and any further changes in net assets or cash.
- Request management accounts or profit‑and‑loss details to determine the cause of the 2020 retained earnings drop (trading loss, asset impairment, or dividend distribution).
- Clarify the PSC structure: identify the ultimate beneficiaries of the trust and the role of Alvarium Re Limited; assess any reputational or regulatory risks linked to trust‑based ownership.
- Verify the company’s regulatory status with the Financial Conduct Authority (FCA), given its SIC codes for financial intermediation and pension funding, and confirm it holds the necessary permissions.
- Search for any county court judgments, director disqualification orders, or litigation that may not be captured in the provided data.

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