ONEBUTTON LIMITED

Financial Health Assessment: ONEBUTTON LIMITED

1. Financial Health Score: F Explanation: The company is in a state of terminal financial failure. With a status of "Liquidation," negative net assets, and overdue statutory filings, the business has ceased to function as a going concern. This is the equivalent of a patient in cardiac arrest; the business has flatlined and is now under the care of an insolvency practitioner.

2. Key Vital Signs * Blood Pressure (Net Assets & Equity): Dangerously low / Negative. As of December 2022, the company's net assets were (£29,494) and shareholders' funds were (£39,574). The business has been technically insolvent (liabilities exceeding assets) since 2020. This indicates a severe lack of financial reserves to survive operational shocks. * Pulse (Cash Position): Weak but present. Cash at bank was £14,255 in 2022, a slight increase from £13,238 in 2021. However, this is a massive drop from the £108,026 held in 2013 and the £49,387 held in 2020. The "heartbeat" of the business has slowed to a faint murmur. * Weight Loss (Asset Depletion): Severe. Total assets have shrunk drastically from £377,893 in 2013 to just £76,151 in 2022. The most alarming symptom is the collapse in trade debtors, which fell from £84,121 in 2021 to just £1,272 in 2022. This suggests the business has virtually stopped making sales or collecting revenue. * Temperature (Compliance & Status): Cold. Both the annual accounts and the confirmation statement are overdue. Furthermore, the registered office has been moved to Wilson Field Limited—an established firm of insolvency practitioners—confirming the company is undergoing formal liquidation.

3. Diagnosis Terminal Insolvency leading to Organ Failure (Cessation of Trade)

The financial data reveals a business that suffered a long, slow decline over the past decade, ultimately succumbing to chronic insolvency. The company enjoyed healthy net assets of £140,863 in 2014, but this eroded steadily year after year.

By 2020, the business slipped into negative equity, a symptom of distress indicating that it could only continue trading by relying on creditors and directors. The 2022 accounts reveal the final stages of this illness: the near-total disappearance of trade debtors shows that the business effectively stopped generating revenue. Meanwhile, the directors increased their remuneration to £42,687 (up from £24,060) and the director's loan was significantly repaid (£26,738 down to £3,700), which are typical late-stage symptoms of extracting remaining value before formal closure. The appointment of insolvency practitioners at Wilson Field confirms the patient has been transferred to the morgue.

4. Recommendations Because the company is already in liquidation, recommendations for future trading are no longer applicable. Instead, the following steps are necessary for the "post-mortem":

• For the Directors: Cooperate fully with the liquidators (Wilson Field). Ensure all company records, books, and remaining assets are handed over promptly. Failure to cooperate can lead to investigations and potential disqualification.
• For Creditors: Submit your claims to Wilson Field immediately. Given the asset profile (low cash, minimal debtors, and secured creditors), unsecured creditors should expect little to no recovery of the amounts owed to them.
• Statutory Compliance: The overdue accounts and confirmation statements should be filed by the liquidators to bring the Companies House register up to date before the company is formally dissolved.