Company Number: SC680421

Analysis Date: 2025-07-29 20:33 UTC

1. Risk Rating: HIGH
   The company shows significant solvency and liquidity risks, with persistent and worsening net current liability positions and negative shareholders’ funds. The financial statements reveal a deepening deficit and liabilities far exceeding current assets, indicating a distressed financial position.

2. Key Concerns:

   • Severe Negative Net Current Assets: As of 31 March 2024, net current liabilities stand at approximately £217,980, nearly doubling from the prior year’s £114,483 deficit, signaling increasing liquidity pressure.
   • Negative Shareholders’ Funds: The company’s net liabilities have increased from £114,143 in 2023 to £217,735 in 2024, reflecting accumulated losses and erosion of capital, which threatens long-term solvency.
   • No Employees Listed: The accounts report zero employees during the year, raising questions about operational activity and sustainability of the business model despite being active and trading in software development.

3. Positive Indicators:

   • Current Filing Compliance: The company’s accounts and confirmation statements are up to date with no overdue filings, demonstrating regulatory compliance and governance discipline.
   • Active Website and Contact Availability: The company maintains an active website with multiple communication channels, suggesting ongoing business operations and market presence.
   • Experienced Management Team: Directors have been in place since incorporation, with no indicated disqualifications or governance concerns, which supports operational continuity.

4. Due Diligence Notes:

   • Investigate the nature and maturity of the large current liabilities (£290k) and whether there is any restructuring or payment plan in place.
   • Clarify the company’s current revenue streams and operational model given the absence of employees and negative equity.
   • Review any contingent liabilities, related party transactions, or off-balance sheet commitments that may affect financial stability.
   • Assess directors’ plans or funding commitments to address the deteriorating financial position.
   • Verify the accuracy of reported assets and liabilities given the small asset base relative to liabilities.