AUTOPROGRAMING LTD

Executive Summary

AUTOPROGRAMING LTD exhibits a strong financial position with significant net assets and current assets exceeding current liabilities, supported by timely compliance with statutory filings. Despite the low risk indicated by the financials, the company's limited operating history and recent director changes warrant additional scrutiny to confirm operational stability and governance robustness. The concentrated ownership structure also suggests a need for oversight regarding control and related party matters.

AUTOPROGRAMING LTD - Analysis Report

Company Number: 14685726

Analysis Date: 2025-07-29 14:56 UTC

1. Risk Rating: LOW
   AUTOPROGRAMING LTD demonstrates strong solvency and liquidity metrics with a substantial net current asset position and positive net assets at the financial year-end. The company is active and compliant with filing deadlines, indicating sound regulatory adherence. However, the company is newly incorporated and small in scale, which naturally limits the historical financial data available.

2. Key Concerns:

• Limited Operating History: Incorporated in early 2023, the company has a short trading history, which restricts assessment of long-term operational stability and financial performance trends.
• Director Turnover: There has been rapid turnover of directors within a short period, including the recent appointment in March 2025, which might raise governance or continuity concerns.
• Concentration of Control: Significant control is held by two individuals with overlapping majority shareholding and voting rights, which may concentrate decision-making and could present risks if governance practices are weak.

3. Positive Indicators:

• Strong Financial Position: At the latest year-end (28 December 2024), the company reported net current assets of approximately £1.23 million and net assets of about £1.99 million, indicating ample liquidity and solvency.
• No Overdue Filings: Both accounts and confirmation statement filings are up to date, reflecting good compliance and governance discipline.
• Micro-Entity Accounting: The company benefits from micro-entity reporting exemptions, reducing administrative burden and costs appropriate for its size.
• Industry Focus: Operating in vehicle maintenance, repair, and used vehicle sales (SIC codes 45200 and 45112), sectors with consistent demand, potentially supporting operational sustainability.

4. Due Diligence Notes:

• Examine Director Backgrounds: Further review of the professional backgrounds, experience, and potential conflicts of interest of current and former directors, including the recent director appointment whose occupation is listed as "Driver".
• Review Business Model & Revenue Streams: Obtain detailed operational and financial data beyond balance sheet figures, including profit and loss accounts and cash flow statements, to assess revenue generation and operational effectiveness.
• Assess Related Party Transactions: Given the concentrated ownership and director overlap, investigate any related party transactions or intra-group arrangements that may impact financial stability or transparency.
• Confirm Asset Valuation: The fixed assets are substantial relative to company size; verification of asset composition, valuation methods, and potential encumbrances is advisable.
• Monitor Future Filings: Continue to monitor timely submission of accounts and confirmation statements, especially as the company grows or changes structure.