Risk Assessment: HOST MANAGEMENT LTD (04759938)

1. Risk Rating: HIGH

Justification: The company's status is recorded as "Liquidation," which represents the most severe form of corporate distress. This status indicates the company is undergoing a formal closure process, meaning it is unlikely to meet its obligations going forward and investor recovery will depend on the liquidation process. Overdue statutory filings compound the risk profile.

2. Key Concerns

a) Liquidation Status The most critical red flag. The company is under formal liquidation proceedings, indicating it cannot continue as a going concern. This means creditors will be paid from remaining assets in a prescribed order, and shareholders may receive little or nothing. The nature of the liquidation (voluntary vs. compulsory) is not specified but requires urgent clarification.

b) Registered Address at Insolvency Practitioner's Office The registered address is "C/O RRS, S&W Partners LLP" in Southampton. RRS (likely RSM Restructuring Services) and S&W Partners appear to be insolvency/restructuring specialists. This strongly suggests professional insolvency practitioners have been appointed and are managing the wind-down, confirming active liquidation proceedings.

c) Overdue Statutory Filings Both the annual accounts (due 30 September 2025) and confirmation statement (due 26 May 2024) are overdue. While this is somewhat expected during liquidation, it creates uncertainty about the company's financial position at the point of failure. The last confirmed financial data is from 31 December 2023.

3. Positive Indicators

a) Group Structure Backing The PSC register shows CH & CO CATERING LIMITED holds more than 75% of shares, voting rights, and the right to appoint/remove directors. CH&CO Group is a substantial UK contract catering business. This suggests HOST MANAGEMENT LTD operated within a larger, established corporate group, which may provide context for the liquidation (e.g., group restructuring rather than standalone failure).

b) Long Operating History Incorporated in 2003, the company operated for approximately 20 years before entering liquidation. This indicates it was a viable trading entity for a significant period, and the current failure may be attributable to specific circumstances rather than a fundamentally flawed business model.

c) Substantial Share Capital Recorded share capital of approximately £1.45 million suggests meaningful capitalisation, though the current recoverable value is unknown.

4. Due Diligence Notes

• Liquidation Type: Determine whether this is a Members' Voluntary Liquidation (solvent), Creditors' Voluntary Liquidation (insolvent), or Compulsory Liquidation (court-ordered). This distinction is critical for understanding creditor recovery prospects.

• Connected Insolvency Practitioner: Identify the specific insolvency practitioner at RRS/S&W Partners handling the case. Request the Statement of Affairs and liquidator's progress reports.

• Group Restructuring Context: Investigate whether this liquidation is part of a broader CH&CO Group reorganisation. The company changed names multiple times (four previous names), suggesting historical restructuring activity. A group reorganisation may mean business operations continue elsewhere.

• Financial Position at Failure: The last filed accounts cover to 31 December 2023. As a subsidiary filing exemption company, detailed P&L is unavailable, but balance sheet data should be obtained to assess asset coverage of liabilities.

• Director Disqualification Search: Verify whether any current or former directors face disqualification proceedings linked to this company's failure.

• Cross-Entity Exposure: Assess whether CH&CO CATERING LIMITED or HCMGH LIMITED (both PSCs) have provided guarantees or have contingent liabilities related to this entity.