COOMBER SECURITY SYSTEMS LIMITED

Risk Rating: MEDIUM Justification: While the company demonstrates significant operational longevity and impeccable regulatory compliance, the complete absence of financial figures in the provided data makes it impossible to assess solvency or liquidity. Additionally, the extremely low share capital of £67 and a potentially complex voting rights structure among Persons with Significant Control (PSC) introduce governance and capitalization uncertainties that require further investigation.

Key Concerns: * Absence of Financial Data: The provided dataset lacks crucial financial metrics (turnover, current assets, net assets, current liabilities). Without these, a standard solvency or liquidity assessment cannot be completed. The minimal share capital of £67 suggests potential historical undercapitalization, though this must be contextualized by retained earnings (P&L reserve), which are missing. * Complex and Potentially Overlapping PSC Voting Rights: The PSC declarations show voting rights that appear to overlap or exceed logical thresholds. Mr. Coomber holds 50-75% of voting rights, Mr. Lehner holds 25-50%, and Mr. Gorey holds 25-50%. Cumulatively, this suggests either an administrative anomaly in the PSC register or a complex shareholder agreement that could lead to governance friction or deadlock. * Minimal Share Capital: A share capital of only £67 is exceptionally low for a company operating for over three decades. While common in older companies that have not undergone capital restructuring, it raises questions about the buffer available to creditors in a distress scenario, pending the review of retained profits.

Positive Indicators: * Operational Longevity: Incorporated in July 1990, the company has operated for over 34 years. Surviving multiple economic cycles strongly suggests a sustainable business model and stable operational footing within the regional security systems market. * Strong Regulatory Compliance: Both the annual accounts and the confirmation statement are fully up to date, with the next accounts not due until July 2027. There are no overdue filings, which indicates diligent administrative oversight and a low risk of regulatory penalties. * Clear Controlling Director: Mr. Steven Michael Coomber holds the right to appoint and remove directors, alongside a majority of voting rights (50-75%). This ensures there is a clear strategic decision-maker at the helm, mitigating risks associated with leadership vacuums.

Due Diligence Notes: * Obtain Filed Accounts: It is imperative to retrieve the latest "Total Exemption Full" accounts from Companies House. The assessment of solvency and liquidity hinges entirely on reviewing the balance sheet, with specific attention to net current assets (working capital) and the P&L reserve to ascertain true equity levels. * Clarify PSC Structure: Investigate the constitutional documents and PSC register to clarify Mr. Alan Richard Coteswold Gorey's 25-50% voting rights, particularly since he holds no declared share ownership over 25%. Determine if this control is exercised via a shareholder agreement, different share classes, or if it represents a filing error. * Review Director Appointments: Note the apparent duplication of Steven Michael Coomber in the officer list (listed separately as SEC/DIR and director). Verify with the statutory register that this is merely a formatting artifact from Companies House data extraction rather than an administrative oversight.