Company Number: 15448892

Analysis Date: 2025-07-29 13:58 UTC

1. Risk Rating: MEDIUM

Justification: PTM Combined Services Limited is a newly incorporated private limited company with minimal but positive net assets and current net assets slightly above zero, indicating a very modest buffer to meet short-term obligations. The low asset base and limited operational history raise some concerns about its financial resilience and ongoing sustainability. However, there are no overdue filings or signs of regulatory non-compliance.

2. Key Concerns:

• Limited financial history and scale: Incorporated in January 2024, the company has only one financial period reported with very modest asset and equity values (£1,346 net assets), limiting assessment of long-term viability.
• Tight liquidity position: Current assets (£1,936) barely exceed current liabilities (£1,904), resulting in a very narrow net working capital margin (£32), which could constrain the ability to absorb short-term financial shocks.
• Director loans included in creditors: The creditor balance includes director loan accounts amounting to £1,140, indicating reliance on directors for financing which may not be sustainable or easily convertible to cash.

3. Positive Indicators:

• Compliance: All statutory accounts and confirmation statements are filed timely with no overdue returns, suggesting sound governance and regulatory compliance.
• Ownership structure: Directors are also significant shareholders with equal voting rights and control, potentially aligning management incentives with company success.
• Positive net assets and small retained earnings (£1,246) after the first accounting period, indicating some initial retained profitability or capital injection.

4. Due Diligence Notes:

• Investigate nature and terms of director loans: Understand whether these represent short-term financing, repayment schedules, and any associated risks.
• Review cash flow forecasts and business plans: Assess how the company plans to improve liquidity and scale operations from a low asset base.
• Verify the robustness of debtor balances and credit risk: The company has £780 in trade debtors; their collectability and aging profile should be reviewed.
• Confirm no contingent liabilities or off-balance sheet risks: Given the small size, any unexpected liabilities could materially impact solvency.