PLANET RECRUITMENT SERVICES 6 LTD

Executive Summary

PLANET RECRUITMENT SERVICES 6 LTD shows persistent negative net assets and marginally negative working capital, raising concerns over its ability to meet obligations. Despite timely compliance with filing requirements and an active status, the mismatch between employee count and micro-entity classification warrants further investigation. Overall, the company presents a high-risk profile primarily due to financial instability.

PLANET RECRUITMENT SERVICES 6 LTD - Analysis Report

Company Number: 12854973

Analysis Date: 2025-07-29 20:08 UTC

1. Risk Rating: HIGH
   The company exhibits negative net assets and working capital deficits over multiple years, indicating ongoing solvency and liquidity challenges. The absence of significant current assets relative to liabilities raises concerns about its ability to meet short-term obligations.

2. Key Concerns:

• Persistently Negative Net Assets: The company reported net liabilities of £33 as of 30 September 2023, continuing a trend of negative equity since incorporation.
• Negative Working Capital: Current liabilities (£6,176) slightly exceed current assets (£6,143), resulting in a net current liability position, which signals potential cash flow difficulties.
• Employee Count Discrepancy: The accounts mention an average of 54 employees, which is inconsistent with the Micro-entity classification typically associated with ≤10 employees, suggesting possible reporting or classification issues.

3. Positive Indicators:

• Up-to-Date Filings: Both accounts and confirmation statements are filed on time with no overdue status, indicating regulatory compliance in terms of reporting.
• Single Controlling Shareholder: Ownership and control are consolidated under one individual with full voting rights, which may facilitate swift decision-making.
• No Indication of Insolvency Procedures: The company is active and not in liquidation, administration, or receivership, implying ongoing operational status.

4. Due Diligence Notes:

• Investigate the nature of liabilities contributing to negative net assets and whether there is any contingent debt or off-balance sheet exposure.
• Clarify the discrepancy in employee numbers relative to the Micro entity status and assess if this affects financial reporting or classification accuracy.
• Review cash flow statements and bank balances (not provided) to evaluate liquidity beyond balance sheet snapshots.
• Confirm if there are any related-party transactions or loans from shareholders that might impact solvency.
• Assess the business model given the SIC code (82990 - other business support services) and recent name change (FUGATE SOLUTIONS LTD to PLANET RECRUITMENT SERVICES 6 LTD) for operational continuity or strategic shifts.