ZERO 1 EXHIBITIONS LIMITED
Company number 04255154 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Risk Assessment: ZERO 1 EXHIBITIONS LIMITED
1. Risk Rating: HIGH
Justification: The company's status is recorded as "Liquidation" at Companies House, which fundamentally overrides any positive indicators from the filed accounts. Additionally, there are significant intra-group dependencies, a long-term declining asset base, and material inconsistencies in the ownership structure that raise governance concerns.
2. Key Concerns
Concern 1: Liquidation Status
The company status is listed as "Liquidation." This is the single most critical red flag. Regardless of the financial figures presented in the latest accounts, a company in liquidation is undergoing formal closure. The accounts filed (made up to 30 June 2025, signed 28 April 2026) may represent a period before liquidation commenced, or may be administrative filings required during the process. The apparent future-dating of these accounts relative to the current date is also unusual and warrants verification with Companies House.
Concern 2: Extreme Intra-Group Debtor Concentration
Debtors include £898,332 owed by group undertakings, representing approximately 85% of total debtors and 74% of current assets. This level of inter-company dependency creates severe collection risk. If the wider group is under financial stress (which liquidation of this entity may indicate), these balances could prove irrecoverable. Stripping out this inter-company debtor, current assets fall to approximately £315,000 against current liabilities of £675,246 — a current ratio of just 0.47x, indicating acute liquidity stress.
Concern 3: PSC Register Contradictions
The Persons with Significant Control register contains mathematically impossible ownership declarations: - Mr Serrano Gonzalez: 25-50% of shares - Mr Arvelo: 25-50% of shares - Iser Limited: more than 75% of shares - Mr Andrew Maclaren: more than 75% of shares
Two entities cannot each hold more than 75% of shares. This suggests either a filing error, outdated records, or a serious governance failure. This must be clarified before any investment consideration.
3. Positive Indicators
Positive 1: Positive Net Assets
Net assets stand at £289,999 (up from £260,989 in 2024), showing a modest improvement in the balance sheet position. Shareholders' funds have grown consistently since the significant dip in 2021 (£17,619).
Positive 2: Filing Compliance
Accounts and confirmation statements are filed and not overdue. The company has maintained filing obligations despite its liquidation status.
Positive 3: Tangible Asset Base
The company holds £204,059 in tangible assets (including leasehold property, plant and machinery, and motor vehicles), providing some asset backing beyond inter-company balances.
4. Due Diligence Notes
| Item | Action Required |
|---|---|
| Liquidation Status | Obtain the liquidation notice from The Gazette. Identify the type of liquidation (voluntary or compulsory), the appointed liquidator, and the date liquidation commenced. This will determine whether any investment or transaction is even possible. |
| PSC Contradictions | Request clarification on the PSC register. Verify the current shareholding structure directly with the directors or liquidator. The existing register cannot be relied upon. |
| Inter-Company Balances | Investigate the nature and recoverability of the £898,332 owed by group undertakings. Identify which group companies owe this amount and assess their financial health. In a liquidation scenario, these debts may rank behind preferential creditors. |
| Long-Term Debt | The company carries £400,417 in creditors falling due after more than year (including £309,243 in bank loans and £91,174 in finance lease obligations). Clarify the terms, security, and whether these are callable upon liquidation. |
| Registered Office Discrepancy | The company overview shows a registered address in Droitwich Spa (WR9 9AJ), but the accounts reference Unit 1 Bescot Crescent, Walsall (WS1 4DL). Verify which is current and whether this reflects a recent relocation. |
| Historical Asset Decline | Net assets have declined from £1,334,975 (2017) to £289,999 (2025) — a 78% erosion. Understand what drove the 2017-2021 collapse (from £1.3M to £17.6K) and whether the partial recovery since then is sustainable or simply reflects balance sheet restructuring. |
| Cash Trend | Cash has declined from £348,959 (2022) to £157,292 (2025), a 55% reduction over three years despite positive net assets. Assess whether this reflects operational cash burn or inter-company cash transfers. |
| Director Disqualification Checks | Conduct formal checks via the Insolvency Service register for both directors (Arvelo and Serrano Gonzalez) given the liquidation status. |