Company Number: 14571385

Analysis Date: 2025-07-29 21:06 UTC

1. Risk Rating: HIGH
   The company exhibits significant solvency and liquidity concerns, with net current liabilities and negative shareholders' funds reported for the most recent financial year. The negative net assets position is an immediate red flag for financial stability.

2. Key Concerns:

• Negative Net Assets and Working Capital: As of 31 March 2024, net current liabilities stand at £119 and net assets at -£119, indicating the company owes more than it owns, which raises serious doubts about its ability to meet short-term obligations.
• Minimal Cash Reserves: Cash on hand remains extremely low at £4, which is insufficient to cover even a fraction of current liabilities (£123). This implies potential cash flow difficulties.
• Accumulated Losses: The profit and loss account shows a deficit of £121, a deterioration from previous positive reserves. This suggests operating losses or other financial strains impacting retained earnings.

3. Positive Indicators:

• Compliance with Filing Requirements: The company is up to date with its annual accounts and confirmation statement filings, indicating adherence to regulatory obligations.
• Single Director with Industry Experience: The appointed director, Mr. Shakil Ahmed, is also the sole significant controller and has an occupation relevant to the business, which may support operational continuity.
• Company is Active and Not in Liquidation: Despite financial concerns, the company remains active and is not undergoing formal insolvency proceedings, which suggests the business is still operational.

4. Due Diligence Notes:

• Investigate Cause of Negative Net Assets: Review detailed financials and management accounts to understand what led to the rapid deterioration between 2023 and 2024, including any unusual or one-off charges.
• Assess Cash Flow Forecasts and Funding: Examine projected cash flow statements and whether additional funding or shareholder support is expected or has been secured to cover liabilities.
• Review Director’s Loans and Creditors: Note the director’s current account shows a negative balance (£-767) which may indicate director funding or loans; clarify terms and sustainability. Also assess trade creditors and tax liabilities for payment status.
• Confirm Business Model Viability: Given the maintenance and repair sector classification, evaluate market positioning, client base, and competitive environment to gauge operational sustainability.
• Check for Any Regulatory or Legal Issues: Although no overdue filings are indicated, confirm no pending legal actions or regulatory sanctions that could impact business continuity.