FIRST BASE GLOBAL DESIGN & BUILD LTD

Executive Summary

FIRST BASE GLOBAL DESIGN & BUILD LTD is a recently incorporated micro-entity showing a small working capital deficit and negative net assets, which suggests moderate solvency risk at this early stage. The company maintains good regulatory compliance and clear governance but requires further scrutiny of its cash flow and operational model to fully assess financial sustainability. Investors should monitor developments over the next reporting periods to confirm improvement in financial stability.

FIRST BASE GLOBAL DESIGN & BUILD LTD - Analysis Report

Company Number: 14518553

Analysis Date: 2025-07-20 17:09 UTC

1. Risk Rating: MEDIUM

   The company exhibits a modest negative net asset position and net current liabilities, which raises moderate solvency concerns given its micro-entity scale and recent incorporation. However, absence of overdue filings and evidence of active governance mitigate immediate red flags.

2. Key Concerns:

   • Negative Net Assets and Working Capital Deficit: The balance sheet as of 31 December 2023 shows net current liabilities of £597 and net liabilities of the same amount, indicating the company’s current liabilities slightly exceed its current assets, which may constrain operational liquidity.

   • Limited Financial History and Scale: Incorporated in December 2022 and classified as a micro-entity, the company has limited operating history and scale, which restricts assessment of sustainable cash flow and profitability trends.

   • Concentration of Control: The entire ownership and control lie with three parties, including two directors and a corporate entity, which may present governance risks if not carefully managed, though no adverse director conduct is noted.

3. Positive Indicators:

   • Compliance with Filing Obligations: The company has filed both accounts and confirmation statements on time, indicating good regulatory compliance and governance discipline.

   • Clear Director Accountability: The two directors are British nationals, actively involved since incorporation, and have signed off on the accounts, showing responsible oversight.

   • Micro-Entity Reporting Framework: Use of FRS 105 and micro-entity provisions reduces complexity and cost, which suits a small-scale startup phase and may allow focus on operational growth.

4. Due Diligence Notes:

   • Cash Flow and Debt Structure: Investigate cash flow statements and details of current liabilities to understand the nature and timing of obligations causing the working capital deficit.

   • Business Model and Revenue Streams: Clarify how the company generates revenue within “specialised design activities” and assess client base, contracts, or pipeline to gauge operational sustainability.

   • Related Party Transactions: Examine any transactions or financial support involving Workplace Futures Group Limited and the directors to confirm arm’s length dealings and financial stability.