Company Number: 12699634

Analysis Date: 2025-07-29 15:03 UTC

1. Risk Rating: HIGH
   MBIN LIMITED exhibits significant solvency and liquidity risks, with persistent net current liabilities and negative net assets over multiple years. The company’s financial position has deteriorated year on year, indicating ongoing financial distress.

2. Key Concerns:

• Negative Net Assets and Shareholders’ Funds: The company’s net liabilities have increased from £-11,548 in 2021 to £-33,931 in 2024, indicating accumulated losses and an erosion of equity.
• Liquidity Shortage: Cash balances are minimal (£1,618 in 2024) compared to current liabilities of £35,549, resulting in a large working capital deficit and potential difficulty in meeting short-term obligations.
• Director Loans and Reliance on Related Party Funding: £25,490 of current liabilities are loans from directors, suggesting the company depends heavily on director funding to sustain operations, which may be unsustainable long term.

3. Positive Indicators:

• Timely Filing and Compliance: The company is up to date with both accounts and confirmation statement filings, indicating compliance with regulatory requirements.
• No Audit Required and Small Company Status: Filing under the small companies regime and exemption from audit may reduce administrative burdens, although this limits financial transparency.
• Experienced Management Team: Multiple directors appointed recently may indicate efforts to strengthen governance or management capacity.

4. Due Diligence Notes:

• Investigate the nature and terms of director loans, including repayment plans and whether these loans are convertible or secured.
• Evaluate the company’s business model viability in the licensed restaurant and take-away food sector, particularly given zero employees reported and minimal tangible assets.
• Confirm whether there are any pending or contingent liabilities not reflected in the accounts.
• Assess potential related party transactions and whether director appointments have been made to strengthen operational capacity or are nominal.
• Review cash flow forecasts and management plans to address ongoing losses and working capital deficits.