Company Number: 13644011

Analysis Date: 2025-07-19 12:32 UTC

1. Risk Rating: HIGH
   The company shows persistent and significant net liabilities, negative net current assets, and increasing current liabilities, indicating a high risk to solvency and liquidity despite being active and up to date on filings.

2. Key Concerns:

• Negative Net Current Assets: The company has a large and growing working capital deficit (e.g., -£1.79m in 2025), a critical liquidity red flag suggesting it may struggle to meet short-term obligations.
• Negative Shareholders’ Funds and Net Assets: The company’s equity position deteriorated from -£41k in 2021 to -£11k in 2025, with a worrying trend of net liabilities despite holding significant fixed assets.
• Reliance on Intercompany Loans: Over £2m is owed to group undertakings within current liabilities, reflecting dependency on related party financing rather than operational cash flow, which can be unstable or unsustainable.

3. Positive Indicators:

• No Overdue Filings: The company’s accounts and confirmation statements are filed on time, indicating compliance with statutory requirements and no governance lapses.
• Substantial Fixed Assets: The company holds significant fixed assets (£1.78m) consistently over the years, which may represent investment in subsidiaries or long-term holdings, potentially recoverable or valuable.
• Majority Shareholder Control: A single controlling person owns 75-100% of shares with full voting rights, which may simplify decision-making and facilitate swift actions if needed.

4. Due Diligence Notes:

• Investigate the nature and recoverability of the fixed assets and investments, especially the subsidiary Platinum Capital Partners (Investments) Limited, which shows a significant drop in reserves and no profit reported.
• Assess the terms, security, and sustainability of intercompany loans and bank facilities, including the ability and willingness of related parties to continue funding.
• Review cash flow forecasts and management plans addressing the material uncertainties related to going concern as disclosed by directors, including contingencies for the working capital shortfall.