BINTER LIMITED

Risk Rating: HIGH

The company has negative net assets / net liabilities of £22,829 as at both September 2025 and September 2024, and has been in a net liability position for five consecutive years. This is compounded by an overdue confirmation statement and a current Companies House status of “Active – Proposal to Strike off.” On the available data, the company appears balance-sheet insolvent and faces a realistic risk of being struck off the register.

Key Concerns

1. Balance sheet insolvency / negative net assets
   The latest micro-entity balance sheet shows current assets of £37,967 against creditors due within one year of £60,796, leaving net liabilities of £22,829. The data provider’s financial history appears to have stripped the negative sign from net assets, but the filed balance sheet clearly presents negative net assets. This deficiency has persisted since at least 2021, indicating accumulated losses and no apparent recovery.

2. Proposed strike-off and possible cessation of business
   The company status is “Active – Proposal to Strike off.” This is a significant red flag. It suggests Companies House has initiated dissolution proceedings, often because the company is no longer carrying on business or has failed to maintain required filings. The latest accounts show an average of 0 employees for 2025, down from 5 in 2024, which is consistent with the business having ceased trading.

3. Overdue confirmation statement / compliance failure
   The confirmation statement was due on 13 October 2024 and is recorded as overdue. This is a regulatory breach and indicates weak governance and filing discipline. While the latest accounts are not shown as overdue, the failure to file a confirmation statement is itself grounds for strike-off action.

Positive Indicators

• The latest annual accounts were filed and are not recorded as overdue.
• The company qualifies for micro-entity exemptions and is not subject to audit, so there is no audit qualification concern.
• Liabilities are relatively modest in absolute terms, at approximately £60,800, and have remained broadly stable year-on-year.
• The company has a simple capital structure, with a single director and one person with significant control holding more than 75% of shares.
• No director disqualification records are shown in the provided data.

Due Diligence Notes

• Confirm strike-off status: Obtain the latest Companies House record and any Gazette notices. Determine whether the proposal to strike off is being contested, and whether any application to restore the company has been made.
• Identify the creditors: Establish whether the £60,796 due within one year represents trade creditors, HMRC, or director loans. A director loan would be less concerning from a third-party creditor perspective, but this cannot be assumed.
• Obtain cash flow information: Micro-entity accounts do not include a profit and loss account or cash flow statement. Bank statements and management accounts are needed to assess whether the company can meet its obligations as they fall due.
• Investigate the drop in employees: The move from 5 employees to 0 in one year suggests operations may have ceased. Clarify the trading status and the director’s intentions.
• Assess going concern: The financial statements do not appear to include a going concern assessment. Given the net liability position, the appropriateness of preparing accounts on a going concern basis should be questioned.
• Review connected entities and director conduct: Consider whether the director is involved in other companies and whether any related-party transactions have affected the financial position.

Executive Summary

Based on the available data, Binter Limited is at high risk of being struck off and appears balance-sheet insolvent, with net liabilities of £22,829 and an overdue confirmation statement. The company’s status as “Active – Proposal to Strike off” and the reduction to zero employees strongly suggest it is no longer trading. Any investor would need to resolve the strike-off proceedings, clarify the creditor position, and assess the company’s ability to continue before placing any reliance on its financial position.