Company Number: 13288527

Analysis Date: 2025-07-29 18:59 UTC

1. Risk Rating: HIGH
   The company exhibits a negative net asset position that has deteriorated over the last three years, coupled with significant current liabilities far exceeding current assets. This raises serious concerns about solvency and liquidity.

2. Key Concerns:

• Negative Net Assets: The net liabilities increased from approximately £-99k (2021) to £-123k (2024), indicating ongoing erosion of equity and financial stability.
• Severe Working Capital Deficit: Current liabilities (~£622k in 2024) vastly exceed current assets (~£14k), resulting in a net current liability exceeding £600k, pointing to liquidity and cash flow risk.
• No Employees and Minimal Operating Activity: The company reports zero employees (including directors) and minimal current assets aside from fixed assets, suggesting limited operational activity and potential dependence on external financing or directors for funding.

3. Positive Indicators:

• Timely Filings and Compliance: Accounts and confirmation statements are up to date with no overdue filings, indicating management compliance with statutory requirements.
• Stable Fixed Asset Base: Fixed assets remain consistently near £498k, implying tangible assets that could potentially be leveraged or sold to meet obligations.
• Experienced Directors and Clear PSC Structure: Two directors who are also PSCs with clear control, which may facilitate decisive governance actions.

4. Due Diligence Notes:

• Investigate the nature and valuation of fixed assets to determine realizable value under distress conditions.
• Clarify the composition of current liabilities to understand creditor types, repayment terms, and any contingent liabilities.
• Assess the company's business model and revenue streams given zero reported employees and ongoing losses; verify if the company is in an investment or development phase.
• Review cash flow statements and budgets for upcoming periods to evaluate near-term liquidity and ability to meet obligations.
• Confirm absence of director disqualification or adverse regulatory actions beyond provided data.