SPLITSEC TECHNOLOGIES LIMITED

Executive Summary

Splitsec Technologies Limited is a newly incorporated micro-entity presenting a negative net asset position and net current liabilities within its first year. While regulatory filings are timely and ownership structure clear, the company’s financials reveal immediate solvency risks and lack of operational activity. Further inquiry into the nature of liabilities and business plans is essential to assess viability.

SPLITSEC TECHNOLOGIES LIMITED - Analysis Report

Company Number: 15169216

Analysis Date: 2025-07-20 19:06 UTC

1. Risk Rating: HIGH
   The company shows net current liabilities and net negative shareholders’ funds shortly after incorporation, indicating immediate solvency concerns. With minimal assets (£2,161) against liabilities (£3,960), the financial position is precarious.

2. Key Concerns:

• Negative Net Assets: The company’s net liabilities of £1,799 suggest it cannot meet its short-term obligations from current assets.
• Lack of Operating Activity: No employees and minimal financial data imply limited or no trading activity, raising questions on operational sustainability.
• Early Stage Financial Weakness: Incorporated less than a year ago, the company already reports a negative equity position, which is a red flag for solvency and financial health.

3. Positive Indicators:

• Compliance: The company is up to date with filing annual accounts and confirmation statements, indicating good regulatory compliance so far.
• Clear Ownership Structure: Two directors each owning 25-50% shares with voting rights provides transparent control and accountability.
• Micro-Entity Status: The company’s micro classification reduces reporting complexity, which is appropriate for its size and stage.

4. Due Diligence Notes:

• Investigate the nature and timing of current liabilities to assess if these represent start-up costs, loans, or trade creditors.
• Clarify the business model and revenue generation plans to evaluate potential for future cash flow improvements.
• Confirm absence of related party transactions or director loans that may affect financial stability.
• Review any contingent liabilities or off-balance-sheet obligations not disclosed in the accounts.
• Monitor upcoming filings and consider obtaining management accounts for a more current view of financial position.