IRLLDN LIMITED

Executive Summary

IRLLDN LIMITED shows significant financial deterioration over the last reported year with negative working capital and net assets, raising solvency and liquidity concerns. While compliance filings are up to date and the business has a defined operational focus, the absence of turnover and the owner-controlled governance structure present risks. Further inquiry into cash flows, debtor status, and management plans is recommended before investment consideration.

IRLLDN LIMITED - Analysis Report

Company Number: 14183168

Analysis Date: 2025-07-29 18:35 UTC

1. Risk Rating: HIGH
   Justification: The company has a net current liability position and negative net assets as of the latest financial year end, indicating solvency concerns. The sharp deterioration from positive net current assets and net assets in the prior year signals financial distress.

2. Key Concerns:

• Negative Net Assets and Working Capital: At 31 December 2024, the company reported net current liabilities of £7,312 and net assets of -£7,312, a reversal from £4,984 positive net assets a year earlier.
• Revenue Recognition and Debtor Write-Off: Debtors dropped from £5,860 to zero, possibly indicating write-offs or collection issues; lack of turnover or revenue data raises questions on operational viability.
• Single Director and Owner Concentration: Miss Katerina Christodoulou controls 75-100% of shares and voting rights, and is the sole director, posing governance and control risk without checks and balances.

3. Positive Indicators:

• Compliance with Filings: Both accounts and confirmation statements are filed on time with no overdue filings, suggesting regulatory compliance.
• Small Company Reporting Exemption: The company qualifies for audit exemption, reducing administrative burden.
• Clear Business Focus: The company operates in advertising agencies with an active website and a defined brand presence, indicating an operational business model.

4. Due Diligence Notes:

• Investigate the cause for the drastic decline in assets and cash position from 2023 to 2024, including any creditor settlements or write-offs.
• Review turnover and profit and loss statements (not filed publicly) to assess revenue generation and expense trends.
• Assess cash flows and any external financing arrangements to determine liquidity availability.
• Evaluate the director’s plans for financial recovery or restructuring given the net liabilities.
• Confirm the status and collectability of debtors previously recorded and any contingent liabilities.
• Consider risks related to owner concentration and potential lack of independent oversight.