Company Number: 12591940

Analysis Date: 2025-07-20 13:58 UTC

1. Risk Rating: LOW
   The company demonstrates solid liquidity and solvency metrics with consistently positive net current assets and shareholders' funds. There are no overdue filings or indications of regulatory non-compliance. The financial position has improved year-on-year, indicating operational stability.

2. Key Concerns:

• Concentration of control: Mr. Michael Byrne owns 75-100% of shares, which may pose governance risks if decision-making lacks independent oversight.
• Absence of audited accounts: The company qualifies for exemption from audit, but lack of an audit can limit external assurance on financial accuracy.
• Limited disclosure on profitability: Income statement details are not filed, restricting insight into operational profitability and cash generation quality.

3. Positive Indicators:

• Strong liquidity position: Cash balances increased to £358,535 and net current assets rose to £380,361 as of 30 September 2024, reflecting healthy working capital.
• Progressive growth in assets and equity: Shareholders’ funds increased from £82,424 in 2019 to £406,838 in 2024, indicating sustained capital accumulation.
• Compliance track record: All statutory filings, including accounts and confirmation statements, are up to date with no overdue submissions.
• Stable employment base: Employee numbers have grown modestly, suggesting operational scaling without overextension.

4. Due Diligence Notes:

• Review detailed management accounts or internal financials to assess profitability and cash flow sustainability beyond balance sheet strength.
• Investigate debtor aging and credit risk given the substantial increase in trade debtors to £439,981, which could affect liquidity if not collectible timely.
• Evaluate governance structures due to concentrated ownership to ascertain risk mitigation measures for minority interests or operational continuity.
• Confirm the nature and adequacy of provisions for taxation and social security liabilities, which have increased alongside creditors.
• Consider obtaining assurances on fixed asset valuations and depreciation policies for accuracy and consistency.