Company Number: SC718320

Analysis Date: 2025-07-29 15:55 UTC

1. Risk Rating: MEDIUM
   Torbraud Actuarial Limited shows a significant decline in net assets and current assets from 2023 to 2024, suggesting potential liquidity and solvency concerns despite remaining positive equity. The company is micro-sized with limited resources and only one employee, which could impact operational sustainability.

2. Key Concerns:

• Declining Net Assets and Working Capital: Net assets dropped from £121,773 in 2023 to £48,116 in 2024, with a commensurate reduction in current assets and net current assets, indicating reduced liquidity buffer.
• Single Director and Employee: The company’s operational capacity appears limited, relying heavily on one individual, which might pose risks in continuity and management oversight.
• Limited Financial Transparency and Audit Exemption: As a micro-entity exempt from audit, financial statements provide limited assurance, and the absence of an auditor’s report restricts independent verification of financial health.

3. Positive Indicators:

• Compliance with Filing Requirements: The company is up to date with its annual accounts and confirmation statement filings, indicating good regulatory compliance.
• Positive Net Assets: Despite the reduction, net assets remain positive, showing the company is not insolvent at present.
• Shareholder Structure Stability: The presence of two significant controllers with clear majority shareholdings and voting rights suggests stable governance and control.

4. Due Diligence Notes:

• Investigate reasons behind the substantial decline in current assets and net assets between 2023 and 2024 to assess if this trend may continue.
• Review cash flow statements and debtor aging to determine liquidity pressures and the quality of current assets.
• Evaluate the operational model and key person risk given the single employee/director setup.
• Confirm no undisclosed liabilities or contingent risks exist given the limited financial disclosures.
• Assess business prospects and client contracts underpinning future revenue and sustainability.