Company Number: 13028673

Analysis Date: 2025-07-20 12:33 UTC

1. Risk Rating: HIGH
   Justification: The company exhibits persistent negative net assets and net current liabilities over multiple years, indicating ongoing solvency risks. The micro-entity status and minimal share capital (£1) also suggest limited financial buffer. No audit exemption and timely filings reduce regulatory risk but do not mitigate financial concerns.

2. Key Concerns:

• Solvency and Negative Equity: Net assets deteriorated from -£465 in 2020 to -£1,827 in 2023, showing sustained losses or accumulated deficits.
• Liquidity Shortfall: Current liabilities consistently exceed current assets, with net current liabilities worsening to -£1,593 in 2023, raising concerns about the company’s ability to meet short-term obligations.
• Limited Financial Transparency: The company has not filed a profit and loss account due to micro-entity provisions, limiting insight into operational profitability and cash flow dynamics.

3. Positive Indicators:

• Compliance with Filing Requirements: Accounts and confirmation statements are filed on time, indicating good regulatory compliance and governance discipline.
• Active Business Status: The company remains active with an operational website and a clear industry focus in specialised design activities (SIC Code 74100).
• Single Controlling Shareholder: Ownership and control by a single individual (Mr. Feeney) may facilitate decisive management actions and strategic direction without shareholder conflicts.

4. Due Diligence Notes:

• Investigate the nature and causes of cumulative losses contributing to negative equity; request management accounts or cash flow statements if available.
• Assess the company’s ability to manage current liabilities given low current assets, including any credit facilities, payment terms, or related-party support.
• Review director’s plans or business strategy to return to profitability or recapitalise the company.
• Confirm absence of any director conduct issues or regulatory sanctions beyond the data provided.
• Evaluate the impact of the micro-entity exemption on financial transparency and consider requesting full accounts or audit reports for more detailed analysis.