Company Number: 13190454

Analysis Date: 2025-07-29 19:47 UTC

1. Risk Rating: HIGH
   The company shows a significant and worsening negative net asset position and large long-term creditor liabilities, suggesting solvency concerns.

2. Key Concerns:

• Negative net assets: The company reported net assets of -£20,458 as of 28 February 2024, worsening from -£11,128 the prior year, indicating accumulated losses or liabilities exceeding assets.
• Large creditors due after more than one year: Creditors increased from £11,230 in 2023 to £20,560 in 2024, implying growing obligations that may pressure liquidity and solvency.
• Minimal asset base: Fixed assets are negligible (£2), and no current assets are reported, raising concerns about the company’s ability to generate cash or collateralize liabilities.

3. Positive Indicators:

• Compliance: The company is up to date with its filing obligations (accounts and confirmation statements) and is not overdue, reducing regulatory risk.
• Small employee base: Maintaining only 2 employees may help control operating expenses, which is positive given financial constraints.
• Active status with no liquidation or administration proceedings, indicating ongoing operational continuity.

4. Due Diligence Notes:

• Investigate the nature and terms of the long-term creditors (creditors due after more than one year) to understand repayment schedules and potential refinancing risks.
• Review management’s plans or strategies for returning to profitability or improving the balance sheet.
• Obtain cash flow statements or bank statements to assess liquidity beyond balance sheet snapshots.
• Confirm the nature of the business activities under SIC code 77400, particularly revenue streams and intellectual property assets, to assess operational sustainability.
• Evaluate director and secretary backgrounds for any previous insolvency or compliance issues (no disqualifications are indicated here, but further checks recommended).