360 CSC LTD

Executive Summary

360 CSC Ltd demonstrates significant financial stress with persistent negative equity and large working capital deficits, raising concerns over its ability to meet obligations. While it holds substantial investment properties as fixed assets and remains compliant with regulatory filings, the high secured debt and liquidity shortfall present material risks. Detailed investigation into debt terms, cash flow management, and asset valuations is recommended to fully assess the company’s viability.

360 CSC LTD - Analysis Report

Company Number: 13644379

Analysis Date: 2025-07-20 18:05 UTC

1. Risk Rating: HIGH
   The company exhibits significant solvency and liquidity risks, evidenced by persistent negative net assets and working capital deficits over multiple years.

2. Key Concerns:

• Negative Net Assets: The company’s shareholders' funds have been negative since incorporation, worsening from -£78k in 2021 to -£115k in 2024, indicating accumulated losses and erosion of equity.
• Severe Working Capital Deficit: Current liabilities (£650k in 2024) far exceed current assets (£5.5k in 2024), resulting in a negative net current asset position of -£289k, which raises concerns about the company’s ability to meet short-term obligations.
• High Secured Debt: The company has substantial secured bank loans (£650k), increasing notably from £451k in 2023, which could pressure cash flows and operational flexibility.

3. Positive Indicators:

• Stable Fixed Asset Base: The fixed assets (investment properties) remain constant at £824,812, suggesting a tangible asset base underpinning the company’s operations.
• No Overdue Filings: The company is compliant with filing deadlines for accounts and confirmation statements, indicating good regulatory compliance.
• Single Director and PSC: The company is closely held by one individual, which may allow for swift decision-making and streamlined governance.

4. Due Diligence Notes:

• Investigate the nature and terms of the secured bank loans, including repayment schedules and covenants, to assess refinancing risks.
• Review cash flow forecasts and working capital management to understand how the company plans to cover liabilities given the current liquidity shortfall.
• Examine the valuation methodology of investment properties to validate the fixed asset carrying values and assess potential impairment risks.
• Clarify the company’s revenue generation and profitability trends as turnover details are absent, limiting assessment of operational stability.
• Confirm whether there are any contingent liabilities or off-balance sheet obligations not disclosed.