Company Number: 13819914

Analysis Date: 2025-07-29 14:56 UTC

1. Risk Rating: MEDIUM
   The company shows an improving net asset position and positive shareholder funds, but persistent net current liabilities pose liquidity concerns. The micro-entity status limits financial detail, increasing risk assessment difficulty.

2. Key Concerns:

   • Liquidity Deficit: Current liabilities significantly exceed current assets (£68,495 vs £1,379 in 2023), indicating a working capital shortfall that may impact short-term obligations.
   • Limited Financial Transparency: As a micro-entity, the company files simplified accounts with no profit and loss details, restricting insight into operational cash flows and profitability.
   • Single Director and Shareholder Control: Concentration of control in one individual (Toby Maxwell Lewis) increases governance risk and potential for limited oversight.

3. Positive Indicators:

   • Improved Net Assets: Shareholders’ funds increased markedly from £6,868 in 2022 to £32,690 in 2023, reflecting an increase in net assets.
   • Timely Filings: Accounts and confirmation statements are up to date with no overdue filings, indicating compliance with statutory requirements.
   • Stable Fixed Assets: Fixed assets remain largely consistent, suggesting no significant asset disposals or impairments.

4. Due Diligence Notes:

   • Investigate the nature of current liabilities to assess repayment terms and whether any short-term financing or creditor arrangements may pose risks.
   • Request profit and loss statements or internal management accounts to understand operational performance and cash flow generation.
   • Review director’s plans or strategies for addressing the liquidity gap and operational sustainability.
   • Confirm absence of any director disqualifications or regulatory issues not evident from public filings.
   • Assess the company’s business model viability within the sea and coastal passenger water transport sector given the limited scale and financial constraints.