Company Number: 13347660

Analysis Date: 2025-07-20 16:37 UTC

1. Risk Rating: HIGH
   The company exhibits a significant solvency risk, reflected by net liabilities reported for two consecutive years before a marginal improvement in 2024. Current liabilities consistently exceed current assets, indicating liquidity pressures and potential difficulties in meeting short-term obligations.

2. Key Concerns:

• Negative Net Current Assets: The 2024 accounts show current liabilities (£41,063) exceeding current assets (£16,028), resulting in net current liabilities of £25,035, a marked deterioration from prior years.
• Negative Shareholders’ Funds: The company’s shareholders’ funds were negative in 2023 (-£7,504) and have only just turned positive (£25,035) in 2024, suggesting a fragile equity position and potential reliance on external funding or informal support.
• Zero Employees and Fixed Assets: The absence of employees and fixed assets raises questions about operational activity and sustainability of the business model, especially given the SIC code (security systems service activities) which typically require some operational capacity.

3. Positive Indicators:

• Timely Filing: The company is current on statutory filings with no overdue accounts or confirmation statements, indicating compliance with regulatory requirements.
• Single Significant Control: The presence of a single controlling shareholder with full voting rights and director appointment powers may provide centralized decision-making and potential access to additional resources if needed.
• Recent Improvement in Net Assets: While still negative overall, the improvement from -£7,504 in 2023 to £25,035 in 2024 suggests some financial recovery or restructuring.

4. Due Diligence Notes:

• Investigate the nature of current liabilities: Clarify the composition and maturity profile of the £41,063 current liabilities to assess repayment risks.
• Assess cash flow and funding sources: With no employees and no fixed assets, determine how the company generates revenue and meets operational costs.
• Review director and shareholder involvement: Given the changes in directorship and sole significant control by an elderly individual (born 1939), confirm continuity plans and governance oversight.
• Examine business operations and contracts: Verify whether the company is actively trading within its SIC classification or holding dormant assets/liabilities.
• Request management accounts if available: More recent financial data could shed light on current performance and liquidity trends.