Company Number: 13099647

Analysis Date: 2025-07-20 15:40 UTC

Risk Rating: LOW to MEDIUM

Justification: OSB Plumbing Maintenance Ltd is an active private limited company incorporated in late 2020, operating in plumbing and HVAC installation. The latest filed accounts (year ending 31 December 2023) show positive net current assets and shareholders’ funds, indicating solvency at the balance sheet date. The company maintains compliance with filing deadlines, with no overdue accounts or confirmation statements. However, the company's small scale, limited equity capital (£1 share capital), and relatively low cash balances suggest moderate liquidity and operational scale, which may be a concern in adverse conditions.

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Key Concerns:

1. Limited Financial Scale and Reserves: The company has a very modest equity base (£1,572 in shareholders’ funds as of 2023) and cash holdings (£4,375), which limits its buffer against unexpected expenses or downturns in trading.

2. Absence of Profit and Loss Data: The company files under the small companies regime and has not filed an income statement or detailed profit and loss account publicly, restricting visibility into operational profitability and cash flow generation.

3. Single Director and Employee: The company has only one director and reported an average of one employee during 2023, indicating limited management and operational capacity. This concentration can pose business continuity risks.

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Positive Indicators:

1. Compliance with Filings: All statutory filings, including accounts and confirmation statements, are up to date with no overdue submissions, which reflects good regulatory compliance and governance discipline.

2. Positive Net Current Assets: The company shows a positive working capital position (£1,572 net current assets in 2023), indicating it can meet short-term liabilities as of the last accounts date.

3. No Indication of Insolvency or Liquidation: The company is active, not in liquidation, administration, or receivership, and there are no red flags in director conduct records.

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Due Diligence Notes:

• Request Profit & Loss and Cash Flow Information: Since the filed accounts omit profit and loss details, obtaining management accounts or tax filings would clarify operational performance and cash flow sufficiency.

• Assess Client Base and Revenue Stability: Understanding contract terms, customer concentration, and revenue predictability is essential given the company’s small size.

• Director Background and Related Party Transactions: Further inquiry into the director’s business experience and any related party transactions or director loans (noting historical £4,000 debtor balance in 2020) is advisable.

• Review of Tax and Social Security Liabilities: The increase in these creditors from £380 to £1,817 in 2023 warrants confirmation that these are being managed appropriately.

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