Company Number: OC446361

Analysis Date: 2025-07-29 13:05 UTC

1. Risk Rating: LOW

Justification: DSQ QUANTUM BAAS LLP is a newly incorporated (March 2023) micro-entity with no overdue filings or compliance issues. The balance sheet shows strong net assets largely comprised of fixed assets (£5.99 million), with positive net current assets (€118,965). There are no loans or debts to members, and no employees, consistent with a start-up or holding structure. The company appears solvent with no immediate liquidity concerns.

2. Key Concerns:

• Limited operational data: The LLP has no employees and a minimal current asset base, suggesting limited operational activity or revenue generation so far.
• Concentrated control: Control resides with corporate members (D Squared Capital Limited and Future Craft Ltd), which may concentrate decision-making and risk.
• Absence of profit and loss information: The accounts provide only balance sheet data; without income statement or cash flow details, assessment of ongoing operational sustainability is constrained.

3. Positive Indicators:

• Strong net asset base: Total assets less current liabilities amount to over £6.1 million, indicating a solid financial position relative to liabilities.
• Compliance up to date: No overdue accounts or confirmation statements, demonstrating good regulatory adherence.
• Clear governance: Designated members are identified, and statutory responsibilities acknowledged in the accounts.

4. Due Diligence Notes:

• Investigate the nature and valuation of fixed assets (£5.99 million) to confirm asset quality and liquidity.
• Review any underlying agreements or transactions with members or related parties to assess potential contingent liabilities.
• Obtain management commentary or business plan to understand the LLP’s intended operations and revenue model.
• Confirm that no liabilities or off-balance sheet risks exist beyond those disclosed.
• Monitor future filings for income statement and cash flow data to evaluate operational performance.