Company Number: 13121267

Analysis Date: 2025-07-20 11:35 UTC

1. Risk Rating: LOW
   Ringover Limited demonstrates a stable financial position with positive net current assets and net assets increasing over recent years. The company is compliant with filing deadlines, showing no overdue accounts or confirmation statements, and is actively managed by directors without any known disqualifications.

2. Key Concerns:

• Reliance on Parent Company Transactions: Significant sales to and amounts owed from its parent company (BJT Partners SAS) suggest a degree of dependency which could pose risk if the parent company faces financial difficulties.
• Modest Share Capital: The relatively low share capital (£10,000) may limit the company's ability to absorb large financial shocks.
• Limited Tangible Fixed Assets: With only £1,101 in fixed assets, the company has minimal physical collateral, which may constrain borrowing capacity or operational resilience.

3. Positive Indicators:

• Strong Liquidity Position: Cash balances (£111,130) exceed current liabilities (£74,685), indicating good short-term liquidity and ability to meet obligations.
• Increasing Shareholders’ Funds: Shareholders’ equity has risen from £41,535 in 2022 to £64,597 in 2023, reflecting retained earnings and profitability.
• Compliance and Governance: No overdue filings and an unqualified audit report indicate sound governance and regulatory compliance.
• Growing Workforce: Increase in average employees from 4 to 6 suggests operational growth and business expansion.

4. Due Diligence Notes:

• Examine Parent Company Financial Health: Assess BJT Partners SAS’s financial stability and its impact on Ringover Limited’s operational and financial risk.
• Review Intercompany Transactions: Confirm that related party transactions are conducted on normal commercial terms and assess any concentration risk.
• Profit and Loss Account Details: Since the P&L account is not publicly filed, review internally or request detailed profitability and cash flow statements to assess operational sustainability.
• Assess Business Model and Market Risks: Understand revenue sources, client diversification, and competitive positioning in the wired telecommunications sector (SIC 61100).
• Director Background Checks: While current directors have no disqualifications, verify their track record and experience relevant to the business.