Company Number: 14084409

Analysis Date: 2025-07-29 16:39 UTC

1. Risk Rating: HIGH
   Asm Chartering Limited demonstrates significant solvency risk, as evidenced by negative net current assets and shareholders' funds over the last two years. The company has consistently recorded a shareholders' deficit (£14,348 as of May 2024), indicating liabilities exceed assets.

2. Key Concerns:

• Negative Net Current Assets and Shareholders’ Deficit: The company’s net current liabilities (£14,348 in 2024) and negative equity position suggest an ongoing inability to cover short-term obligations from current assets.
• No Revenue or Employees Reported: The accounts indicate no employees and no income statement filed, implying no active trading or revenue generation, which raises concerns about operational sustainability.
• Limited Cash Reserves and Increasing Creditors: Cash holdings decreased significantly from £19,479 in 2023 to £7,458 in 2024, while creditors remain substantial, indicating potential liquidity pressures.

3. Positive Indicators:

• Timely Filing Compliance: The company has filed accounts and confirmation statements on time with no overdue filings, demonstrating regulatory compliance.
• Active Status and No Liquidation: The company remains active and is not subject to liquidation or administration, leaving room for potential recovery or restructuring.
• Experienced Director and PSC: The company has a named director with a stable appointment since incorporation and a single person of significant control, which may facilitate decision-making and oversight.

4. Due Diligence Notes:

• Investigate the company’s business activities and revenue generation plans, given the lack of reported income and employees. Confirm whether operations have commenced or if the company is in a pre-trading phase.
• Review detailed creditor information to understand the nature and terms of liabilities, including whether these are trade creditors, loans, or related party debts.
• Assess any contingent liabilities or commitments not disclosed in the accounts that could exacerbate liquidity concerns.
• Clarify the reason and impact of the recent name change from NB Atlantic Limited to ASM Chartering Limited in August 2024 and whether it reflects a strategic shift or restructuring.
• Confirm the director’s plans for addressing the negative equity and whether there is external financial support or a capital injection contemplated.