Company Number: 13149519

Analysis Date: 2025-07-29 14:03 UTC

1. Risk Rating: MEDIUM
   The company shows some positive working capital and net assets but a notable decline in net current assets and shareholders’ funds in the latest financial year suggests emerging financial pressure. The business is small and relatively young, which carries inherent operational risks.

2. Key Concerns:

• Declining Net Current Assets: Net current assets have fallen from £15,737 in 2023 to £5,226 in 2024, indicating reduced short-term liquidity buffers.
• Shrinking Shareholders’ Funds: A drop from £15,737 to £6,422 in equity over one year may reflect declining retained earnings or losses, which could impact solvency if the trend continues.
• Concentrated Control: Single director and 75-100% shareholder control by Mr. Baris Karacasu concentrates governance risk and may limit oversight.

3. Positive Indicators:

• Positive Net Current Assets: Despite the decline, current assets exceed current liabilities, suggesting the company can meet short-term obligations at the balance sheet date.
• Compliance and Filing: Accounts and confirmation statement filings are up to date with no overdue submissions, indicating regulatory compliance.
• Low Overhead: Tangible fixed assets are minimal (£1,196), which may reflect a low-cost operational model suited to service businesses such as consultancy and translation.

4. Due Diligence Notes:

• Investigate the cause of the decrease in net current assets and shareholders’ funds between 2023 and 2024 to determine if this is due to operational losses, increased liabilities, or one-off factors.
• Review cash flow statements, if available, to confirm liquidity trends and ability to generate cash from operations.
• Assess client concentration and revenue stability given the nature of consultancy and publishing activities.
• Confirm whether any related party transactions exist given the close control by the director/majority shareholder.
• Verify the extent of credit risk exposure, especially with "other creditors" being a significant portion (£40,857) of current liabilities.