Company Number: 14311510

Analysis Date: 2025-07-20 12:22 UTC

1. Risk Rating: LOW
   The company demonstrates solid net asset backing with positive net current assets and no long-term creditors as of the latest financial year. Cash reserves are healthy relative to current liabilities, indicating good short-term liquidity. No liquidation or administration status is noted.

2. Key Concerns:

• Overdue Confirmation Statement: The last confirmation statement filing is overdue as of April 2025, which may indicate minor compliance issues or administrative oversight.
• Director and PSC Changes: Recent changes in directors and persons with significant control (PSC) within a short timeframe could suggest management transition risks that warrant monitoring.
• Declining Current Assets: Current assets have decreased from the prior year, particularly cash and debtors, alongside a notable reduction in inventories, which might reflect operational fluctuations or changes in working capital management.

3. Positive Indicators:

• Strong Net Asset Position: Net assets increased from £925k in 2023 to £1.43m in 2024, reflecting growth in equity and retained earnings.
• Healthy Liquidity: Cash at bank of £474k comfortably covers current liabilities of £191k, supporting operational stability.
• Asset Investment: Tangible fixed assets increased significantly, indicating capital investment and potential business expansion.
• No Long-Term Debt: Absence of creditors falling due after one year in the latest accounts suggests no long-term financial burdens.

4. Due Diligence Notes:

• Investigate reasons for overdue confirmation statement filing and assess any regulatory or compliance risks related to this lapse.
• Clarify the nature and impact of recent director resignations and appointments, including the transition of control from Mr. Rubins to Mr. Jones as PSC.
• Review working capital management given the decrease in current assets and inventories to ensure no operational cash flow stress.
• Confirm the valuation and usefulness of the increased tangible fixed assets to ascertain they contribute positively to revenue generation.
• Verify the absence of contingent liabilities or off-balance sheet obligations not reflected in the accounts.