Company Number: 12545245

Analysis Date: 2025-07-20 13:02 UTC

1. Risk Rating: HIGH
   The company exhibits significant negative net assets and net current liabilities consistently over multiple years, indicating an ongoing inability to meet its short-term obligations. The dormant status and minimal share capital contribute to elevated solvency and liquidity risks.

2. Key Concerns:

• Negative Net Assets and Net Current Liabilities: Persistent deficit of approximately £15,550 suggests insolvency risk and inability to cover short-term debts with current assets.
• Dormant Account Filing: The company has filed dormant accounts despite showing liabilities and negative equity, which may obscure operational and financial realities.
• Minimal Share Capital and Lack of Operational Activity: Share capital of £1.00 and dormancy status indicate lack of investment and possibly no active trading, raising questions about the viability and sustainability of the business.

3. Positive Indicators:

• Compliance with Filing Requirements: No overdue accounts or confirmation statements, demonstrating adherence to statutory filing deadlines.
• Single Director with Full Control: Clear ownership and control structure with Mr. Jules Philippi as sole shareholder and director facilitates straightforward governance and decision-making.
• Small Company Regime Filing: Accounts prepared under simplified regime reduce administrative burden and cost.

4. Due Diligence Notes:

• Investigate the rationale for dormant filing given the presence of liabilities and negative net assets; clarify whether the company has conducted any trading activity.
• Review the nature and origin of current liabilities (£19,640) to assess creditor risks and potential contingent liabilities.
• Confirm whether the company has any plans or means to recapitalize or restructure to address negative equity and working capital deficits.
• Verify any off-balance sheet commitments or related party transactions given the sole directorship and control.
• Understand the business model and revenue generation prospects associated with SIC code 47640 (retail sale of sports goods) to evaluate operational sustainability.