PODIA.WORK LTD

Executive Summary

PODIA.WORK LTD presents a high-risk profile due to significant and increasing net liabilities coupled with poor liquidity and overdue statutory filings. While the company remains active with experienced management, the worsening financial position and compliance concerns warrant careful scrutiny. Further due diligence should focus on understanding the underlying causes of financial distress and assessing operational viability.

PODIA.WORK LTD - Analysis Report

Company Number: 13265873

Analysis Date: 2025-07-29 20:25 UTC

1. Risk Rating: HIGH
   The company exhibits significant financial distress, demonstrated by large net liabilities of £556,151 as of 31 March 2023 and negative net current assets of £56,938. The overdue accounts filing also raises governance concerns.

2. Key Concerns:

• Severe Solvency Issues: The company’s net liabilities have increased from £369,604 in 2022 to £556,151 in 2023, indicating worsening financial health and potential inability to meet long-term obligations.
• Liquidity Constraints: Current liabilities vastly exceed current assets (£609,631 vs. £6,870), resulting in negative working capital, which suggests cash flow difficulties and challenges in meeting short-term debts.
• Overdue Accounts Filing: The latest accounts filing is overdue, which may imply administrative or compliance weaknesses and raises questions about management effectiveness and transparency.

3. Positive Indicators:

• Active Status with No Formal Insolvency Proceedings: The company remains active and is not currently in liquidation, administration, or receivership, allowing time for possible recovery or restructuring.
• Experienced Directors and Secretaries: The presence of consistent directors with no noted disqualifications suggests an established management team.
• Micro-Entity Reporting: As a micro-entity, the company benefits from simplified reporting requirements, which may reduce compliance burdens.

4. Due Diligence Notes:

• Investigate Causes of Financial Deterioration: Review detailed financial statements, cash flow statements, and management commentary to understand drivers of escalating liabilities and declining assets.
• Assess Creditors and Debt Structure: Clarify the nature of the significant long-term creditors (£609,631), including repayment terms and any covenants or security interests.
• Examine Governance and Compliance Practices: Determine reasons for overdue accounts filing and evaluate internal controls to ensure timely statutory compliance.
• Evaluate Business Model and Revenue Streams: Given the SIC code 62090 (other IT services), assess market position, client base, and operational sustainability amid financial strain.
• Confirm No Director Disqualifications or Regulatory Issues: Verify director backgrounds for any undisclosed legal or regulatory concerns impacting company stability.