Company Number: SC717655

Analysis Date: 2025-07-29 19:25 UTC

1. Risk Rating: HIGH
   Justification: The company exhibits significant and worsening negative net current assets and shareholders’ funds over the past three years, with current liabilities nearly tenfold higher than cash holdings in 2023. This indicates a strained financial position and potential insolvency risk.

2. Key Concerns:

• Severe liquidity shortfall: Cash at year-end 2023 is only £2 against current liabilities of £19,631, suggesting inability to meet short-term obligations.
• Persistent negative equity: Shareholders’ funds have deteriorated from -£5,581 in 2021 to -£16,145 in 2023, indicating ongoing losses or capital erosion.
• No employees and minimal operational scale: The absence of staff and low fixed asset base suggest limited operational capacity and possible dependency on director support.

3. Positive Indicators:

• No overdue filings: Both accounts and confirmation statements are up to date, indicating compliance with statutory requirements.
• Single director has full control: Clear governance structure with one PSC controlling 75-100% shares and voting rights, which can facilitate swift decision-making.
• Industry classification in marine aquaculture: Sector with growth potential, which could represent future opportunity if financial issues are addressed.

4. Due Diligence Notes:

• Investigate the company’s business model and revenue generation given the absence of employees and sustained losses.
• Review director support arrangements and any informal financing or guarantees in place.
• Clarify the nature and timing of creditor obligations within current liabilities to assess imminent liquidity risks.
• Examine any contingent liabilities or commitments not disclosed in the financials.
• Assess plans for capital injection or restructuring to restore solvency.