Company Number: 12828355

Analysis Date: 2025-07-20 15:57 UTC

1. Risk Rating: LOW
   Ant Couriers Ltd demonstrates a stable financial position with positive net current assets and net assets increasing steadily over recent years. The company is current with all filing obligations, has no indications of insolvency or liquidation, and maintains a consistent shareholder equity base. These factors suggest a low risk of solvency or liquidity concerns at present.

2. Key Concerns:

• Elevated Current Liabilities: The company's current liabilities have increased notably to £113,578 in 2024 from £83,070 in 2023, largely driven by social security and other tax liabilities (£93,828). This concentration could pressure short-term cash flows if not carefully managed.
• No Employees Reported: The reported average number of employees is zero, which may imply reliance on subcontractors or director-only operations. This may raise questions about operational scale and sustainability.
• Goodwill and Intangible Asset Amortisation: The company holds £6,600 in goodwill subject to amortisation, with no impairment noted. Given the small scale of fixed assets and operations, the recoverability of this goodwill should be monitored for potential impairment risks.

3. Positive Indicators:

• Positive and Growing Net Assets: Shareholders’ funds have increased from £15,967 in 2021 to £29,932 in 2024, indicating retained profitability or capital contributions.
• Healthy Net Current Assets: Net current assets stand at £19,437 in 2024, providing a working capital buffer to meet short-term obligations.
• Timely Compliance: The company is current with statutory accounts and confirmation statement filings, with no overdue submissions or penalties.
• Cash Position Improvement: Cash at bank increased to £29,823 in 2024 from £14,468 in 2023, supporting liquidity.

4. Due Diligence Notes:

• Investigate the nature and timing of the significant social security and tax liabilities within current liabilities to assess risk of cash flow strain.
• Clarify the operational model given zero employees reported; determine if subcontractor relationships or director-managed operations are sustainable and compliant with employment laws.
• Review details around goodwill recognition and amortisation policy to evaluate impairment risk and whether the intangible asset reflects true economic benefit.
• Confirm absence of contingent liabilities or pending legal or regulatory issues not disclosed in accounts.
• Verify completeness of financial data, particularly income statement and cash flow statements which are not included here, to better understand profitability and cash generation.

Executive Summary:
Ant Couriers Ltd presents a financially stable profile with growing net assets and manageable working capital. The company meets all compliance requirements and shows improved liquidity. Key areas for further review include the high current tax liabilities and the operational model with no employees. Overall, the risk of insolvency or liquidity distress appears low based on available financial data.