Company Number: 14718347

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

1. Risk Rating: MEDIUM
   Justification: The company is newly incorporated (2023) and has filed timely micro-entity accounts showing positive net assets but a slight working capital deficit. The current liabilities slightly exceed current assets, indicating some liquidity risk. However, the company is active, compliant with filings, and has no overdue accounts or returns.

2. Key Concerns:

• Liquidity Pressure: Current liabilities (£91,487) exceed current assets (£88,178) by about £3,309, suggesting potential short-term cash flow challenges.
• Limited Financial History: Being a startup with only one set of micro-entity accounts limits visibility into operational sustainability and profitability trends.
• Concentrated Control: Three directors each control 25-50% of shares and voting rights; while this may aid decision-making, it may also pose governance risk if disagreements arise.

3. Positive Indicators:

• Timely Compliance: No overdue filings for accounts or confirmation statements, indicating good regulatory compliance.
• Positive Net Assets: Despite the working capital deficit, net assets and shareholders’ funds are positive (£1,321), showing some equity buffer.
• Industry Experience: Website indicates over 45 years combined experience in healthcare market research, which supports operational credibility.

4. Due Diligence Notes:

• Review cash flow statements and bank balances to assess liquidity beyond balance sheet snapshots.
• Obtain management accounts or forecasts to evaluate revenue generation and break-even status.
• Investigate contractual arrangements with customers and suppliers to understand working capital dynamics.
• Assess directors’ backgrounds and any potential conflicts of interest given their significant control.
• Monitor subsequent filings to track financial performance and liquidity improvements.