Company Number: 13197859

Analysis Date: 2025-07-29 20:08 UTC

1. Risk Rating: HIGH
   The company shows persistent negative net assets and net current assets, indicating ongoing solvency and liquidity issues. Negative cash balances worsen the risk profile, and the absence of employees suggests limited operational activity.

2. Key Concerns:

• Negative Equity and Working Capital Deficit: Shareholders’ funds and net current assets have been negative since incorporation and deteriorated further to -£4,111 by the latest accounts, signaling undercapitalization and inability to meet short-term liabilities.
• Negative Cash Position: Cash at bank is shown as -£4,111, which implies overdrafts or accounting treatment of liabilities as cash, pointing to liquidity constraints.
• Lack of Operational Activity: The company had zero employees in the latest year and minimal turnover data available, raising questions about ongoing business operations and revenue generation.

3. Positive Indicators:

• Compliance with Filing Requirements: Accounts and confirmation statements are filed on time with no overdue filings noted, demonstrating regulatory compliance.
• Director Stability: The same director has been in post since incorporation with no records of disqualification or governance concerns.
• Small Company Reporting: The company qualifies for small company exemptions and has filed under the Total Exemption Full category, indicating relatively simple reporting requirements.

4. Due Diligence Notes:

• Investigate Cash Balance Presentation: Clarify the nature of the negative cash figure—whether it is an overdraft or a reporting anomaly.
• Review Business Activities and Revenue Streams: Confirm current trading status, clientele, and turnover, especially given the SIC codes for venture capital and software publishing, which may indicate startup risk.
• Examine Director’s Plans and Capital Injection: Understand strategies to improve solvency and whether capital injections or restructuring are planned to address negative equity.
• Assess Contingent Liabilities or Off-Balance Sheet Obligations: Given negative net assets, check for any undisclosed liabilities or risks.
• Verify the Absence of Employees: Determine if the company is operationally dormant or outsourcing activities.