Company Number: 13114791

Analysis Date: 2025-07-29 19:16 UTC

1. Risk Rating: MEDIUM
   The company shows positive net assets and fixed investments but has a marginally negative net current asset position and limited operational history. The lack of detailed profit and loss information and the company’s recent incorporation contribute to moderate risk.

2. Key Concerns:

• Liquidity Risk: Current liabilities (£675,915) slightly exceed current assets (£674,808), creating a small working capital deficit which could stress short-term liquidity.
• Limited Operational History: Incorporated in 2021 with only one employee and abridged unaudited accounts, limiting insight into operational performance and cash flow sustainability.
• Concentration of Control and Governance: Shareholding and control appear concentrated in one entity (Fica Management Limited) and one individual (Mr Geoffrey Davies), which may raise governance and decision-making risk.

3. Positive Indicators:

• Strong Net Asset Position: Net assets of £1,203,955 largely driven by fixed asset investments valued at over £1.2 million, indicative of valuable equity holdings.
• No Overdue Filings: Accounts and confirmation statements are filed on time, suggesting regulatory compliance and administrative discipline.
• Diverse Board Composition: Multiple directors with varied nationalities and professional backgrounds, which may support balanced oversight.

4. Due Diligence Notes:

• Confirm the liquidity management strategy addressing the slight working capital deficit and review cash flow projections.
• Investigate the nature, valuation basis, and liquidity of the fixed investment in Winners Alliance Inc shares to assess realizable value.
• Review the company’s business model, revenue streams, and future contracts to evaluate operational sustainability given limited employee count and recent start.
• Examine governance arrangements and decision-making processes given the concentrated shareholding and control structure.
• Request access to profit and loss accounts or management accounts for fuller financial assessment.