J MAC (N.I.) LIMITED

Executive Summary

J MAC (N.I.) LIMITED currently presents a high risk profile due to its dormant status combined with sustained negative working capital and minimal cash reserves, raising solvency and liquidity concerns. While compliance and net asset figures are positive, reliance on director loans and lack of active trading undermine operational stability. Further investigation into the company’s dormant status, director loan terms, and asset valuations is recommended to fully assess financial viability.

J MAC (N.I.) LIMITED - Analysis Report

Company Number: NI674361

Analysis Date: 2025-07-29 14:17 UTC

1. Risk Rating: HIGH
   J MAC (N.I.) LIMITED exhibits a high risk profile primarily due to its dormant status combined with persistent net current liabilities and minimal liquidity, indicating potential solvency and liquidity challenges.

2. Key Concerns:

• Dormant Status with Negative Working Capital: The company is classified as dormant yet shows net current liabilities of £4,593 consistently over recent years, suggesting ongoing obligations without active trading revenue.
• Minimal Cash Reserves: Cash holdings remain at a nominal £81, insufficient to cover current liabilities of £4,674, indicating liquidity stress and inability to meet short-term obligations promptly.
• Director Loans as Primary Creditors: The main creditor is a director loan (£4,174), which may imply reliance on insider funding rather than external financing, raising concerns about financial independence and sustainability.

3. Positive Indicators:

• No Overdue Filings or Compliance Issues: The company’s accounts and confirmation statements are up to date, demonstrating regulatory compliance and governance adherence.
• Positive Net Assets: Despite liquidity issues, net assets stand at £7,957, supported by tangible fixed assets valued at £16,459, which could provide some collateral value.
• Sole Control by Director: The single director and 100% owner, Mr. Dean Patrick Mcatamney, suggests clear accountability and decision-making authority.

4. Due Diligence Notes:

• Investigate Reason for Dormant Status: Confirm why the company remains dormant since incorporation and whether there are plans to activate trading or dissolve.
• Clarify Nature and Terms of Director Loans: Review agreements regarding the £4,174 director loan to understand repayment terms, interest, and implications for creditor priority.
• Assess Fixed Assets Valuation and Utilization: Verify the condition and market value of tangible assets to evaluate their liquidity potential or operational relevance.
• Review Historical Trading Activity and Future Plans: Analyze prior financial statements and management intentions to gauge the company’s viability and strategic direction.