Company Number: 12389663

Analysis Date: 2025-07-20 18:49 UTC

1. Risk Rating: LOW
   NORMCON LIMITED demonstrates a stable micro-entity financial profile with positive net assets and no current liabilities. The company has met all filing deadlines with no overdue accounts or confirmation statements, indicating good compliance. There are no signs of financial distress or operational issues from the available data.

2. Key Concerns:

• Declining Net Assets: Net assets decreased from £6,543 in 2021 to £3,924 in 2024, indicating a reduction in the company's financial buffer over recent years.
• Minimal Share Capital: The company has a nominal share capital of £20, which may limit capital raising capacity.
• No Employees: The absence of employees suggests reliance on the director or contractors, which may impact scalability and operational resilience.

3. Positive Indicators:

• No Current Liabilities: The company has no short-term debts or creditors, implying strong liquidity and no immediate solvency risks.
• Consistent Filing Compliance: Accounts and confirmation statements are filed timely, demonstrating good governance and regulatory compliance.
• Positive Net Current Assets: Current assets consistently exceed current liabilities, supporting short-term financial stability.

4. Due Diligence Notes:

• Investigate the reasons behind the steady decline in net assets to understand if this reflects operational losses or asset disposals.
• Review cash flow statements or management accounts if available to assess ongoing liquidity beyond balance sheet snapshots.
• Clarify the operational model given zero employees, including the role of the director and use of subcontractors or consultants.
• Confirm whether there are any contingent liabilities or off-balance sheet commitments not disclosed in the micro-entity accounts.
• Verify if there have been any changes in control or significant transactions not apparent from the basic filings.