Company Number: 13213768

Analysis Date: 2025-07-29 14:28 UTC

1. Risk Rating: MEDIUM
   The company shows modest net assets and a narrow margin between current assets and current liabilities, reflecting some liquidity risk. The reliance on intercompany debtors and minimal cash reserves warrants caution. However, the company is active, compliant with filings, and reports consistent net asset values.

2. Key Concerns:

• Liquidity risk: Cash of £9,554 against current liabilities of £180,767 indicates potential short-term liquidity pressure. The company depends heavily on debtors, primarily amounts owed by group undertakings (£157,296).
• Concentration risk: Debtors are almost entirely from group undertakings, which may pose recoverability risk if the group experiences financial difficulties.
• Minimal equity base: Share capital is nominal (£4) and net assets only £5,610, suggesting limited buffer against losses or unexpected liabilities.

3. Positive Indicators:

• Filing compliance: Accounts and confirmation statements are up to date with no overdue filings, indicating good regulatory compliance.
• Going concern assertion: Directors confirm the company is a going concern, and accounts are prepared on this basis.
• Stable net assets: Despite slight fluctuations, net assets have remained relatively stable over recent years, indicating some operational stability.

4. Due Diligence Notes:

• Review the nature and creditworthiness of the group undertakings that owe the company money to assess recoverability of debtors.
• Examine cash flow forecasts and working capital management to evaluate liquidity under stress scenarios.
• Investigate the company's business model and revenue sources given its SIC classification as a holding company, to understand operational sustainability.
• Confirm no director disqualifications or governance concerns given all directors are related and reside at the same address.