MEDIWIN LIMITED
Company number 04309058 · 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.
Financial Health Assessment: MEDIWIN LIMITED
1. Financial Health Score: F (Terminal Condition)
This company has ceased all trading activity and is in a state of financial decline with no prospect of recovery. While technically solvent, it is on life support with diminishing cash reserves and no revenue generation.
2. Key Vital Signs
| Vital Sign | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | £3,980 | £4,962 | £10,670 | £207,847 | £10.2M |
| Cash | £1,141 | £2,123 | £7,831 | £7,739 | £445,096 |
| Total Liabilities | £2,076 | £2,070 | £2,549 | £36,375 | £8.26M |
| Shareholders' Funds | £1,904 | £2,892 | £10,620 | £174,071 | £1.92M |
| Turnover | £0 | £0 | £0 | - | £69.2M |
Critical Observations:
- Pulse (Revenue): Flatline — Zero turnover since January 2021. The business has no commercial heartbeat.
- Blood Pressure (Cash): Dangerously low and falling — Cash has declined 46% from £2,123 (2023) to £1,141 (2024). At current administrative expense rates (~£988/year), cash will be exhausted within approximately 1-2 years.
- Body Temperature (Net Assets): Declining steadily — Shareholders' funds have fallen from £2,892 to £1,904, a 34% decrease year-on-year.
- Immune System (Liability Coverage): Marginal — Current assets of £3,980 barely cover current liabilities of £2,076, giving a current ratio of approximately 1.9:1. However, £2,839 of those assets are debtors that appear unchanged year-on-year, raising serious collectibility concerns.
3. Diagnosis
Primary Condition: Post-Cessation Atrophy
The directors' report confirms the company ceased trading in January 2021 with "no anticipation of future changes." This is not a temporary illness — it is an irreversible cessation of commercial activity.
Symptoms Analysis:
🔴 Chronic Cash Hemorrhage Administrative expenses of €988 in 2024 (€5,453 in 2023) continue to drain remaining cash reserves with no offsetting revenue. This is a slow bleed with no tourniquet applied.
🔴 Stagnant Debtors Debtors remain at €2,839 unchanged from 2023, suggesting these may be aged receivables with questionable recoverability. If written off, the company would become technically insolvent.
🟡 Stable but Persistent Liabilities Creditors remain relatively stable at ~€2,070-2,076, indicating ongoing obligations (likely professional fees, filing costs, or group-related balances) that continue to require servicing.
🔴 Collapsed Asset Base Total assets have fallen from £10.2 million (2020) to £3,980 (2024) — a 99.96% decline. The dramatic drop between 2020 and 2022 reflects the disposal of the trading business, likely through group restructuring.
Underlying Condition:
The company appears to be a residual shell following the transfer of its trading operations elsewhere within the group structure. With the parent group preparing consolidated financial statements, Mediwin Limited's former business has likely been absorbed into a wider group entity. What remains is a dormant husk with minimal residual assets.
4. Prognosis
Outlook: Poor — Terminal Decline Expected
Unless action is taken, the company faces:
- Within 1-2 years: Cash reserves will be fully depleted by ongoing administrative costs
- Within 2-3 years: Inability to pay filing fees and professional costs, leading to potential strike-off by Companies House
- Creditor risk: If the €2,839 in debtors proves irrecoverable, insolvency becomes immediate
The auditor has confirmed going concern status, but this is based on the expectation that the company will continue to meet its obligations — something that becomes increasingly unlikely as cash diminishes.
5. Recommendations
Urgent — End-of-Life Planning Required
| Priority | Action | Rationale |
|---|---|---|
| Critical | Formal dissolution or voluntary strike-off | The company has no purpose, no revenue, and declining cash. Continuing to maintain it incurs unnecessary costs (audit fees, filing fees, administrative expenses). |
| High | Recover or write off aged debtors | The unchanged €2,839 debtors figure suggests collectibility issues. Either pursue recovery actively or write off to reflect reality. |
| High | Settle outstanding creditors | Clear the €2,076 in liabilities prior to dissolution to enable a clean strike-off. |
| Medium | Distribute remaining cash to shareholders | If dissolution proceeds, remaining cash after creditor settlement should be distributed to the PSC (Mr Jean-Hugues Michel) as the 75%+ shareholder. |
| Low | Consider group implications | Given this is part of a wider group structure, ensure any inter-company balances or obligations are properly resolved before closure. |
What NOT to do:
- ❌ Continue operating in current state — this simply burns through remaining cash
- ❌ Assume debtors are recoverable without active pursuit
- ❌ Ignore the company and allow it to lapse into involuntary strike-off with unresolved matters
Summary
Mediwin Limited is a post-trading shell with no revenue, declining cash, and no realistic prospect of returning to commercial activity. The company ceased operations in January 2021 and has been in slow decline since, with administrative expenses gradually eroding remaining reserves. The condition is terminal — the appropriate course of treatment is orderly dissolution rather than continued maintenance of an empty corporate vessel.