PASSPORTS BEYOND BORDERS LTD

Executive Summary

Passports Beyond Borders Ltd is currently facing significant solvency and liquidity challenges, reflected in increasing net liabilities and ongoing losses despite minimal turnover. While compliance with filing requirements and director expertise provide some reassurance, the company’s negative equity and weak operational performance present high financial risk. Further due diligence on funding plans and business viability is essential before considering investment.

PASSPORTS BEYOND BORDERS LTD - Analysis Report

Company Number: SC680578

Analysis Date: 2025-07-29 20:43 UTC

1. Risk Rating: HIGH
   The company exhibits a persistently negative net asset position and net current liabilities, indicating solvency concerns. With minimal turnover and ongoing losses, the financial stability is weak.

2. Key Concerns:

• Negative Net Assets and Working Capital: The net current liabilities increased to £655 as of 30 November 2023, worsening from £347 the prior year, signaling inability to cover short-term obligations from current assets.
• Low Turnover with Operating Losses: Annual turnover is extremely low (£810) with losses of £624 reported for the latest period, suggesting poor operational performance and insufficient revenue generation to sustain the business.
• Minimal Share Capital and No Audit: With just £1,000 share capital and exemption from audit, detailed financial scrutiny is limited, raising transparency and governance concerns.

3. Positive Indicators:

• Current Filing Status: No overdue accounts or confirmation statements, indicating compliance with statutory filing deadlines.
• Active Company Status: The company remains active and not in liquidation or administration, suggesting ongoing operations.
• Director Stability: Presence of a director with relevant finance experience (Senior Finance Manager) could support improved financial management going forward.

4. Due Diligence Notes:

• Investigate sources of funding or additional capital injections planned to address the negative equity and working capital deficit.
• Review business plan and sales pipeline to assess prospects for revenue growth and operational turnaround.
• Confirm absence of contingent liabilities or off-balance sheet obligations not disclosed in accounts.
• Evaluate director and shareholder background for operational and governance credibility.
• Obtain management accounts or cash flow forecasts to assess liquidity position beyond year-end snapshot.