FORNAX INTEGRAL SERVICES LTD

Executive Summary

Fornax Integral Services Ltd is a newly incorporated private company showing significant solvency and liquidity concerns as of its first financial period ending March 2024. Negative net assets and working capital deficits highlight financial instability, although statutory filings are up to date and cash holdings provide limited short-term relief. Further due diligence is warranted to clarify the nature of liabilities and operational prospects before considering investment.

FORNAX INTEGRAL SERVICES LTD - Analysis Report

Company Number: 14458205

Analysis Date: 2025-07-29 12:10 UTC

1. Risk Rating: HIGH
   The company shows a negative net current assets position (£-2,047) and negative shareholders' funds (£-2,148) as at 31 March 2024, indicating insolvency on a balance sheet basis. The level of current liabilities exceeds current assets, raising concerns about the company's ability to meet short-term obligations.

2. Key Concerns:

• Negative net working capital: Current liabilities (£5,133) exceed current assets (£3,086), indicating potential liquidity issues.
• Negative equity position: Shareholders’ funds are negative, implying accumulated losses or funding shortfalls.
• No employees and early-stage: Incorporated in late 2022 with no employees and limited operational history, raising questions on operational sustainability and revenue generation.

3. Positive Indicators:

• No overdue filings: Both accounts and confirmation statement are filed on time, reflecting compliance with statutory requirements.
• Single controlling party with investment background: Director and sole significant controller is an Investment Director, suggesting some level of professional oversight.
• Cash on hand: Company holds £2,678 in cash, which may provide some short-term liquidity buffer.

4. Due Diligence Notes:

• Investigate the nature and timing of the current liabilities, especially the directors’ current accounts (£3,633), to understand whether these are loans or trade creditors.
• Review turnover and revenue generation details which are not disclosed, to assess operational viability.
• Confirm if there are any plans or capital injections intended to address the negative equity and working capital position.
• Verify if the company has any contingent liabilities or pending legal or regulatory issues not disclosed in the accounts.
• Assess the director’s intentions and strategy given the early stage and financial position.