Company Number: 13861488

Analysis Date: 2025-07-29 18:02 UTC

1. Risk Rating: HIGH
   The company shows significant negative net assets (-£255,831) despite having substantial fixed assets (£3.47m) largely offset by creditors due after one year (£3.97m). This indicates high leverage and potential solvency concerns. The absence of employees and minimal current assets relative to liabilities raises liquidity risk.

2. Key Concerns:

• Negative shareholders’ funds suggest the company’s liabilities exceed its assets, posing solvency risk.
• Large long-term creditors (£3.97m) may pressure cash flows and refinancing needs.
• No employees and minimal current assets (£296k) may indicate limited operational activity or reliance on external contractors, raising questions about business sustainability.

3. Positive Indicators:

• Timely filing of accounts and confirmation statement shows regulatory compliance and governance discipline.
• Substantial fixed asset base could reflect valuable property or equipment supporting core business operations.
• Active website and multiple contact points suggest maintained market presence and client accessibility.

4. Due Diligence Notes:

• Investigate the nature and terms of the long-term creditors to assess refinancing risk and potential covenant breaches.
• Clarify the company’s business model given zero employees and the SIC codes related to facilities support and real estate letting.
• Review cash flow statements or management accounts to understand liquidity trends and operational cash generation.
• Examine the relationship and control structure involving Icon South East Limited, which holds majority ownership and director appointment rights.