RADIO EXE LTD

Financial Health Score: F (Critical Condition)

This grade reflects a business that is not only suffering from severe balance sheet insolvency but has also been formally admitted for terminal care. The company is currently in liquidation, meaning its financial heart has stopped beating and it is in the process of being wound down.

1. Key Vital Signs

• Net Assets (Equity): -£100,418 Interpretation: The patient is bleeding out financially. While raw data may present this as a positive number, the filed accounts use parentheses ( 100,418 ), denoting a negative value. The company's liabilities exceed its assets by over £100k, meaning it is technically insolvent on a balance sheet basis.
• Current Ratio (Liquidity): 0.66x Interpretation: Calculated as Current Assets (£85,408) divided by Current Liabilities (£128,911). A healthy ratio is between 1.5x and 2.0x. At 0.66x, the company has just 66p of short-term assets to cover every £1 of short-term debt. This is a severe liquidity restriction—like a patient with critically low blood pressure.
• Asset Depletion: -47% Interpretation: Current assets have plummeted from £161,016 in 2024 to £85,408 in 2025. The business is rapidly burning through its remaining liquid resources to stave off creditors, which is no longer sustainable.
• Corporate Status: In Liquidation Interpretation: The ultimate flatline. Despite being registered as "Active," the in_liquidation flag is true. A licensed insolvency practitioner has taken control to realize the company's assets and distribute them to creditors.

2. Diagnosis

Severe Balance Sheet Insolvency & Terminal Wind-Down

The financial data reveals a company that has suffered a rapid and fatal deterioration. As recently as 2023, the company had positive net assets of £24,293. By 2024, this had swung to a negative £47,160, and as of July 2025, the deficit has more than doubled to negative £100,418.

This deterioration is driven by two chronic symptoms: 1. Unmanageable Debt Burden: Current creditors (due within one year) stand at £128,911, dwarfing the cash and short-term assets available. Long-term creditors (£71,852) further cannibalize any remaining asset value. 2. Revenue/Cash Collapse: The halving of current assets in a single year suggests a dramatic drop in operating cash flow or the forced selling off of assets at distressed values.

The presence of "Nation Broadcasting Limited" and "Exe Broadcasting Limited" as People with Significant Control (PSC) suggests that this entity was likely a subsidiary operating a local radio license (Radio Exe/Exeter FM). The transition into liquidation is likely a strategic decision by the parent group to restructure, merging the radio station's operations into a healthier part of the group while euthanizing this specific legal entity to contain the losses.

3. Recommendations

Because the company is in liquidation, traditional financial rehabilitation (like cutting costs or restructuring debt) is no longer an option. The "treatment" is now a legal process.

1. For Directors (Paul Nero, Jason Bryant, Martin Mumford, Rex Rozario):
   • Cooperate fully with the Liquidator: Your primary duty is now to the creditors, facilitated through the insolvency practitioner. Ensure all company records, bank statements, and digital assets are handed over promptly.
   • Beware of Wrongful Trading: Do not incur any new credit or liabilities on behalf of this company. The liquidator will scrutinize your conduct to ensure no further creditors were disadvantaged after the point of insolvency.
2. For Creditors:
   • Submit Proofs of Debt: If you are owed money, register your claim with the appointed liquidator immediately. Given the negative net assets, unsecured creditors should expect little to no return.
3. For the Parent Group (Nation Broadcasting):
   • Asset Realization: Ensure that any valuable intangible assets (such as broadcasting licenses, frequencies, or brand IP) have been cleanly transferred to a viable group entity before the shell is dissolved, preserving the operational business while discarding the insolvent legal structure.