LSG REALISATIONS LIMITED
Company number 04754102 · 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.
CREDIT ANALYSIS REPORT: LSG REALISATIONS LIMITED
1. CREDIT OPINION: DECLINE
Reasoning: This entity is currently in Administration and has rebranded from "Lightfoot Solutions Group Limited" to "LSG Realisations Limited" — the term "Realisations" being the standard UK convention for companies undergoing asset realisation under insolvency procedures. The company has suffered a catastrophic deterioration in its balance sheet, moving from net assets of £10.27M to net liabilities of £4.25M in a single year. Shareholders' funds have swung to negative £9.86M. Two subsidiaries are in liquidation, and intercompany debts have been written off. No credit facility should be extended to this entity under any circumstances.
2. FINANCIAL STRENGTH
Assessment: Critically Weak / Insolvent
| Metric | 2025 | 2024 | Movement |
|---|---|---|---|
| Total Assets | £423,533 | £13,221,673 | -96.8% |
| Total Liabilities | £4,042,300 | £2,336,946 | +72.9% |
| Net Assets | (£4,253,662) | £10,268,775 | Swing to negative |
| Shareholders' Funds | (£9,863,987) | £10,268,775 | Swing to negative |
| Cash | £133,916 | £95,068 | +40.8% |
Key observations: - Balance sheet insolvency: Net liabilities of £4.25M confirm the company cannot meet its obligations from existing assets - Asset destruction: Total assets fell by 96.8%, primarily driven by the write-off of £10.82M in intercompany receivables from subsidiaries now in liquidation (Lightfoot Solutions UK Limited and Lightfoot Solutions New Zealand) - Debt burden: Long-term creditors of £4.04M represent reassigned shareholder loans (£4.025M plus £66k accrued interest) transferred to the new controlling shareholder, Omni Infohealth+ Limited, on 7 March 2025 - Negative working capital: Net current liabilities of £245,402 means the company cannot cover short-term obligations from current assets - Secured charges: Sholdco Financing Limited holds fixed and floating charges over all company property and undertakings, meaning unsecured creditors will rank behind this secured creditor
3. CASH FLOW ASSESSMENT
Assessment: Non-viable
- Cash position: £133,916 — modest and insufficient relative to current liabilities of £634,895
- Current ratio: 0.61x (Current Assets £389,493 / Current Liabilities £634,895) — well below the 1.0x minimum threshold for viability
- Trade debtors: Only £95,263 remaining, down substantially from prior year
- Revenue-generating capacity unknown: The directors have elected not to include a profit and loss account, so trading performance cannot be assessed. However, employee headcount dropped from 16 to 13, suggesting contraction
- Intercompany receivables written off: The prior year included £1.99M due from group undertakings within one year and £10.82M due after one year — both now written to zero following subsidiary liquidations
The company has no meaningful capacity to generate cash flows sufficient to service its debt obligations.
4. MONITORING POINTS
Given the DECLINE recommendation, monitoring is academic rather than operational. However, for completeness:
| Monitoring Point | Detail |
|---|---|
| Administration status | Track administrator appointments, progress reports, and creditor meetings via The Gazette and Companies House |
| Asset realisation proceeds | Monitor whether the £33k in tangible assets and £561 in investments generate any recoverable value |
| Preferential creditor claims | Watch for outcomes on the £59,712 in taxation and social security arrears |
| Related party transactions | The acquisition by Omni Infohealth+ Limited and reassignment of £4.09M in shareholder loans warrants scrutiny for transaction at undervalue or preference claims |
| Subsidiary liquidations | Lightfoot Solutions UK Limited and Lightfoot Solutions New Zealand Limited — track liquidator reports for potential upstream distributions |
| Director conduct | Six directors remain listed; monitor for any disqualification proceedings by the Insolvency Service |
ADDITIONAL RISK FACTORS
- Name change: The shift to "LSG Realisations Limited" on 5 February 2026 confirms this is an asset-realisation vehicle, not a going concern
- Going concern assertion: Directors signed off accounts on 7 October 2025 using the going concern basis — this appears inconsistent with the company entering administration and the scale of balance sheet deterioration
- PSC complexity: Omni Infohealth+ Limited holds >75% of shares and voting rights, while Ms Claire Halpin holds 50-75%. The relationship between these controllers and transaction pricing on the share/loan reassignment should be examined by the administrator