Company Number: 13140610

Analysis Date: 2025-07-29 20:52 UTC

1. Risk Rating: HIGH
   The company exhibits persistent net current liabilities and net negative shareholders' funds over several years, raising substantial solvency concerns. The micro-entity status and minimal share capital (£2) provide limited financial buffer.

2. Key Concerns:

• Negative Net Assets: The net liabilities increased from -£3,943 in 2021 to -£5,978 in 2024, indicating deteriorating financial position without signs of recovery.
• Working Capital Deficit: Current liabilities consistently exceed current assets by approximately £5,000 to £5,500, signaling liquidity stress and potential cash flow constraints.
• Limited Capitalization: The company’s share capital is only £2, which is negligible relative to its liabilities and highlights minimal equity support from shareholders.

3. Positive Indicators:

• Compliance: There are no overdue filings; the latest accounts and confirmation statements have been filed on time with Companies House, demonstrating regulatory compliance.
• Stable Management: Directors have remained constant since incorporation with relevant aviation experience (pilots), suggesting operational continuity.
• Micro-Entity Filing: The company benefits from simplified reporting requirements, reducing administrative burdens.

4. Due Diligence Notes:

• Investigate the company’s cash flow management and sources of funding given persistent working capital deficits.
• Review contracts or client base in the "Service activities incidental to air transportation" sector to assess revenue prospects and operational viability.
• Examine any related party transactions or director loans that may be supporting the company financially.
• Confirm if there are any contingent liabilities or off-balance sheet exposures not reflected in the accounts.
• Assess plans or strategies management has to improve financial position or secure additional capital.