Company Number: 13454614

Analysis Date: 2025-07-20 18:15 UTC

1. Risk Rating: HIGH
   The company exhibits significant solvency and liquidity concerns, with persistent and growing net liabilities and negative working capital. The absence of employees and operational scale further raises questions about sustainability.

2. Key Concerns:

• Severe Negative Net Assets: Shareholders' funds are deeply negative (£-17,299 as at 30 June 2024), indicating that liabilities exceed assets by a substantial margin.
• Negative Working Capital: Net current liabilities of £-15,063 suggest the company is unable to cover short-term debts from current assets, with only £41 in cash available.
• Lack of Operational Activity: No employees reported and minimal current assets imply negligible business operations or revenue generation, which questions ongoing viability.

3. Positive Indicators:

• Compliance with Filing Requirements: The company is up to date with both accounts and confirmation statement filings, indicating good regulatory compliance.
• Single Director with Clear Control: Mr. Felix Joseph, the sole director and 75-100% shareholder, provides clear management accountability and simplified governance.
• Exemption from Audit: As a small company with minimal activity, exemption from audit reduces immediate compliance costs.

4. Due Diligence Notes:

• Investigate the nature of the director loans (£14,050) classified as short-term liabilities and whether these are repayable or convertible to equity.
• Assess the company’s business plan or strategy for addressing the substantial accumulated losses and negative equity position.
• Clarify the source of funding for ongoing operations given negligible cash balances and lack of employees.
• Review any contingent liabilities or off-balance sheet commitments not reflected in the accounts.
• Confirm the absence of trading activity and understand the intended business model in buying and selling own real estate (SIC 68100), as no fixed assets or real estate holdings are reported.
• Consider director’s geographic location in Spain and any impact on governance or operational oversight.