I GIGI GENERAL STORE LIMITED
Company number 05211513 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Risk Analysis: I GIGI GENERAL STORE LIMITED (05211513)
1. Risk Rating: HIGH
Justification: This company is deeply insolvent with net liabilities of £86,090, has explicitly ceased trading (as stated in the accounts), holds virtually no cash (£20), and is subject to a proposal to strike off. The financial trajectory shows a catastrophic deterioration from net assets of £16,325 (2021) to a deficit of £86,090 (2025), with the business no longer operational.
2. Key Concerns
Concern 1: Severe Insolvency and Cessation of Trading
The company's net asset position has deteriorated to negative £86,090, with total liabilities (£99,326 including both current and long-term) vastly exceeding total assets (£8,838). The accounts explicitly state: "The company has ceased trading and is no longer considered to be a going concern." This is not a company experiencing temporary difficulties—this is a business that has failed.
Concern 2: Massive Tax Liability
Social security and other taxes owed amount to £72,097—representing approximately 82% of current liabilities. This is an extraordinarily large sum for a small retail business and strongly suggests prolonged failure to remit VAT, PAYE, and/or National Insurance to HMRC. This liability has remained static across two reporting periods, indicating no repayment activity. HMRC is likely the primary creditor driving any recovery action.
Concern 3: Strike-Off Proceedings and Compliance Failures
The company status is "Active - Proposal to Strike off," indicating that the Registrar of Companies has initiated compulsory strike-off proceedings (typically for failure to file required documents). Additionally, the Confirmation Statement is overdue (due 03/09/2025). The recent resignation of director Alex Gisele Ingram-Legendre on 12/01/2026 further signals abandonment of the entity.
3. Positive Indicators
Limited positive indicators exist given the severity of the position, however:
- Accounts are filed: Despite the company ceasing to trade, the most recent accounts (to 21/03/2025) have been filed, signed by a director on 16/06/2025, indicating some ongoing compliance effort.
- Minimal long-term debt: Long-term creditor obligations are relatively modest at £11,514 (bank loans), limiting structured debt servicing demands.
- Shareholder continuity: The PSC with controlling interest (>75%) remains in place as an officer, providing a clear point of accountability.
4. Due Diligence Notes
| Item | Investigation Required |
|---|---|
| Tax liability composition | The £72,097 "social security and other taxes" figure requires breakdown—what portion is VAT, PAYE/NI, or corporation tax? This determines HMRC's likely enforcement approach and priority in any insolvency. |
| Strike-off initiator | Determine whether the strike-off proposal was initiated by the company (voluntary) or by the Registrar (compulsory). If compulsory, this suggests complete abandonment of filing obligations. A voluntary strike-off would require director solvency declarations. |
| Debtors recoverability | The £8,818 in other debtors has remained unchanged across two years, raising questions about recoverability. If these are inter-company or related-party balances, they may be irrecoverable. |
| Director resignation timing | Alex Ingram-Legendre resigned on 12/01/2026—investigate whether this resignation preceded or followed the strike-off proposal and any potential connection to creditor pressure. |
| Creditor composition | The £8,444 in "other creditors" should be identified—these may include trade creditors, director loans, or other obligations that could influence the wind-down process. |
| Director disqualification risk | Given the scale of unpaid tax liabilities and the cessation of trading, investigate whether directors face potential disqualification proceedings under the Company Directors Disqualification Act 1986 for wrongful trading. |
| Accounting reference date change | The year-end shifted from 31 January to 21 March between 2022 and 2023—understand the reason for this change and its impact on reported figures. |