GO CLEAN OVERSLADE LTD

Executive Summary

GO CLEAN OVERSLADE LTD shows significant financial deterioration within two years of operation, marked by negative net assets and declining liquidity, which raises high solvency and operational risks. While regulatory compliance is current and ownership is transparent, the company’s financial instability warrants cautious evaluation and further due diligence before investment consideration.

GO CLEAN OVERSLADE LTD - Analysis Report

Company Number: 13842111

Analysis Date: 2025-07-20 18:28 UTC

1. Risk Rating: HIGH
   The company exhibits a negative net asset position as of the last financial year end (March 2024), indicating potential solvency concerns. The sharp deterioration in net current assets and total net assets within a single year is a significant red flag for financial stability.

2. Key Concerns:

• Solvency risk: The net current assets turned negative (£-2,532) in 2024 from a positive position (£1,494) in 2023, resulting in net liabilities of £52. This indicates the company may struggle to cover short-term obligations.
• Liquidity issues: The decline in current assets from £6,650 (2023) to £1,774 (2024) alongside current liabilities remaining substantial (£4,306 in 2024) points to strained liquidity and potential cash flow difficulties.
• Operational sustainability: The company has only one employee and minimal fixed assets, which may limit operational capacity and scalability. Additionally, the business is very young (incorporated in 2022) and has experienced a rapid decline in financial health within two years.

3. Positive Indicators:

• Compliance: The company is up to date with filings including accounts and confirmation statements, indicating good regulatory compliance.
• Ownership and control transparency: The beneficial ownership is clearly documented with three individuals sharing control, which supports governance transparency.
• No overdue filings: All statutory filings are current with no overdue accounts or confirmation statements, reducing regulatory risk.

4. Due Diligence Notes:

• Investigate reasons behind the substantial decline in current assets and net assets between 2023 and 2024, including revenue trends, expenses, and working capital management.
• Review cash flow statements if available to assess operational cash generation or reliance on external financing.
• Confirm the nature of liabilities and any contingent liabilities or off-balance sheet exposures.
• Assess the business model viability given the minimal employee base and small asset base.
• Verify if there have been any director or shareholder loans or related party transactions influencing financial position.
• Consider obtaining management commentary or strategic plans to understand future outlook and turnaround measures, if any.