CORRIGAN WATER LIMITED

Executive Summary

Corrigan Water Limited is a recently formed private limited company demonstrating compliance with filing requirements and a modestly positive working capital position. The company’s limited operating history and reliance on director funding present potential concerns, but no immediate solvency or regulatory red flags are apparent. Further monitoring of operational performance and financial health is recommended to confirm ongoing stability.

CORRIGAN WATER LIMITED - Analysis Report

Company Number: 14759620

Analysis Date: 2025-07-20 11:33 UTC

1. Risk Rating: LOW
   Corrigan Water Limited is a newly incorporated private limited company with modest but positive net current assets and no overdue filings. Its financial position shows a small working capital surplus and no indications of insolvency or filing compliance issues, which suggests low risk at this early stage.

2. Key Concerns:

• Limited operating history: Incorporated in March 2023, the company has yet to establish a trading record, raising uncertainty about future performance and sustainability.
• Reliance on director’s current account: Significant current liabilities (£11,671) are owed to the director, which may indicate dependence on director funding rather than external financing or operational cash flow.
• Small net assets and working capital: The net current assets of £1,038 and shareholders’ funds of the same amount reflect a very modest capital base, which may constrain the company’s ability to absorb financial shocks or invest in growth.

3. Positive Indicators:

• Compliance with statutory requirements: No overdue annual accounts or confirmation statements, indicating good governance and regulatory compliance.
• Positive working capital: Current assets exceed current liabilities, suggesting the company can cover short-term obligations.
• Clear ownership and control: The sole director and 100% controlling shareholder is identified with no adverse records, implying straightforward governance structure.

4. Due Diligence Notes:

• Verify the business model and planned revenue streams given the SIC code “Other service activities not elsewhere classified” to assess operational viability.
• Review subsequent trading performance and cash flow reports beyond the initial accounting period to evaluate sustainability.
• Assess the nature and terms of the director’s current account balance to understand the company’s funding structure and related party transactions.
• Confirm absence of contingent liabilities or pending regulatory matters not disclosed in the accounts.