FUSION BXT OPCO LIMITED

Executive Summary

Fusion BXT Opco Limited presents a high risk profile due to its negative net assets and minimal liquidity, compounded by reliance on group funding. While regulatory compliance and experienced management provide some reassurance, the company’s dormant status and worsening financial position warrant thorough due diligence on group support and future operational plans. Investors should carefully assess the group’s overall financial strength before exposure.

FUSION BXT OPCO LIMITED - Analysis Report

Company Number: 13520321

Analysis Date: 2025-07-29 19:03 UTC

1. Risk Rating: HIGH
   The company exhibits significant solvency risk, with net liabilities of £1,793 as at 31 August 2024 and very minimal current assets (cash of £10). The increasing net current liabilities and shareholder deficit indicate an ongoing negative equity position. The company is likely dependent on group support as evidenced by amounts owed to group undertakings.

2. Key Concerns:

• Negative Net Assets and Working Capital Deficit: The company has net liabilities and net current liabilities of £1,793, which have worsened from the previous year’s £689. This indicates an insolvent balance sheet and potential difficulty meeting short-term obligations.
• Minimal Cash Reserves: Only £10 in cash at bank suggests very limited liquidity to cover immediate expenses or creditor demands.
• Dependence on Group Financing: Trade creditors are zero, but amounts owed to group undertakings are significant (£1,803), implying reliance on intra-group loans or funding to sustain operations.

3. Positive Indicators:

• No Overdue Filings: The company’s accounts and confirmation statement are filed on time, indicating regulatory compliance and governance diligence.
• Experienced Board and Controlling Party: The directors include professionals with relevant experience (banker, investment manager, company directors), and the company is controlled by a related property holding company, which may provide strategic support.
• Going Concern Assertion: Directors have assessed and declared the company as a going concern, suggesting confidence in short-term operational continuity.

4. Due Diligence Notes:

• Investigate the nature and terms of the amounts owed to group undertakings, including repayment schedules and whether these are interest-bearing or unsecured.
• Clarify the operational status of the company, as the financial statements note the company was dormant during the period, which may explain limited activity and financial deterioration.
• Review the broader group structure and financial health of Fusion BXT Propco Limited to assess the sustainability of group support and any potential contingent liabilities.
• Confirm the absence of undisclosed liabilities or contingent risks not reflected in the accounts given the negative net asset position.