Company Number: SC728216

Analysis Date: 2025-07-29 15:34 UTC

1. Risk Rating: MEDIUM
   TS STRUCTURAL LTD shows modest net assets and positive working capital, but a significant decline in current assets between 2024 and 2025 raises concerns about liquidity. The company remains a micro-entity with minimal fixed assets and only one employee, potentially limiting operational resilience. No overdue filings or liquidation status mitigate regulatory concerns.

2. Key Concerns:

• Liquidity decline: Current assets decreased from £11,639 in 2024 to £6,445 in 2025 while current liabilities remained relatively steady, reducing net current assets by more than half. This could signal cash flow pressure.
• Limited scale and resources: The company remains very small with only one employee and minimal fixed assets, which may constrain the ability to absorb shocks or scale operations.
• Concentrated control: One individual holds 75-100% of shares and voting rights, which may present governance risks especially if succession or oversight is limited.

3. Positive Indicators:

• Positive net assets and working capital in all reported years indicate the company is solvent on a balance sheet basis.
• Up-to-date filings with Companies House and no overdue confirmations or accounts suggest good compliance and governance standards.
• The company’s industry classification (engineering-related consulting) often allows for flexible cost structures and niche market opportunities.

4. Due Diligence Notes:

• Investigate reasons for the sharp decrease in current assets from 2024 to 2025 and assess ongoing cash flow and receivables quality.
• Review operational dependency on the single employee and director, including contingency plans for management continuity.
• Consider requesting management accounts or cash flow forecasts to better understand short-term liquidity and operational sustainability.
• Confirm any related party transactions or loans given the concentrated ownership.