Company Number: SC730971

Analysis Date: 2025-07-29 18:02 UTC

1. Risk Rating: LOW to MEDIUM
   MAP FIRE & SECURITY LTD demonstrates improving net assets and positive net current assets as of the latest financial year, indicating an ability to meet short-term obligations. The company is micro-entity sized with a stable number of employees and timely filings, reducing governance concerns. However, limited financial history (incorporated 2022) and relatively modest asset base warrant a cautious medium risk rating until a longer performance track record is established.

2. Key Concerns:

• Modest Capital Base and Leverage: The company carries non-current liabilities (£7,423 in 2024) which are significant relative to net assets (£6,519), suggesting some leverage risk.
• Limited Financial History: Only two full years of financial data; early-stage companies typically face higher risks relating to operational sustainability.
• Concentration of Control: Two directors (Lisa and Martin Paterson) each hold 25-50% ownership and voting rights, which could present governance risks if disputes arise or succession planning is lacking.

3. Positive Indicators:

• Improving Financial Position: Net assets increased from £253 in 2023 to £6,519 in 2024, and net current assets improved to £3,974, indicating strengthening liquidity and solvency.
• Timely Compliance: No overdue filings for accounts or confirmation statements, reflecting good regulatory compliance and governance discipline.
• Stable Workforce: Consistent employee count over two years (3 employees), suggesting operational stability in the security systems service sector.

4. Due Diligence Notes:

• Verify the nature and terms of the company’s long-term liabilities to assess refinancing or repayment risk.
• Obtain management accounts or cash flow forecasts to evaluate short-term liquidity and operational cash generation.
• Investigate the background and relationship of the controlling directors to understand governance and potential conflicts of interest.
• Review contracts or recurring revenue streams to assess business sustainability beyond initial trading years.