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Formic Limited

02424786

active
Private Limited Company
england wales
Companies House
Health Score
70 / 100

Some Concerns

30/30
Filing
0/30
Financial
40/40
Risk
  • Negative net worth (-10)
  • Current liabilities exceed current assets (-10)

Details

5 LUKE STREET, LONDON, EC2A 4PX
Incorporated 20/09/1989

Compliance

Last accounts

31/12/2024

total exemption full

Next accounts due

30/09/2026

On track

Confirmation statement

Last: 20/09/2025

Due 04/10/2026

On track

Industry

62020
Information technology consultancy activities

Officers

Mr Jonathan William Atkin

director · Since 01/03/2026

BRITISH · ENGLAND · Age 53

Also on 3 other boards

Persons with Significant Control

Favom Ltd

75–100% shares
75–100% votes
Appoint directors

5 Luke Street, Greater London, EC2A 4PX

Reg: 12435543 · 5 Luke Street, London, United Kingdom, Ec2a 4px · Limited Company

Notified 02/03/2026

Former PSCs

Stockford Limited

Ceased 01/11/2019

Kk Sutton Limited

Ceased 02/03/2026

Charges0 outstanding

charge
satisfied

HSBC BANK PLC

Created 06/02/2004Registered 10/02/2004Satisfied 19/03/2026
charge
satisfied

CINNAMON LIMITED

Created 17/06/1999Registered 19/06/1999Satisfied 11/07/2008
charge
satisfied

NATIONAL WESTMINSTER BANK PLC

Created 21/10/1996Registered 25/10/1996Satisfied 03/07/2007
charge
satisfied

RANSOME'S DOCK LIMITED

Created 01/05/1996Registered 10/05/1996Satisfied 11/07/2008
charge
satisfied

GILES MEYNELL WINTER

Created 02/07/1993Registered 06/07/1993Satisfied 11/07/2008
charge
satisfied

THE GOVERNOR AND COMPANY OF THE BANK OF SCOTLAND

Created 17/07/1991Registered 19/07/1991Satisfied 08/09/1997

CompanyRankvs 66050+ SIC 62020 peers
46

Financial strength1th percentile among SIC peers · 0/25
Employees96th percentile among SIC peers · 14/15
LiquidityCurrent ratio 0.25× · 2/20
Longevity15 years trading (max 15) · 15/15
Filing complianceAll filings up to date · 15/15
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66050Formic Limited
46
How is this score calculated?
Financial strength0/25 pts

Net worth compared to all companies in the same SIC code with published accounts. Top quartile earns the full 25 points.

Employees14/15 pts

Workforce size relative to sector peers from the most recent accounts. A larger team generally signals commercial scale.

Liquidity2/20 pts

Current assets ÷ current liabilities. A ratio above 2× earns full marks; between 1–2× scores partially; below 0.5× scores minimal points.

Longevity15/15 pts

One point per year of operation since incorporation, capped at 15. Older companies have a proven track record.

Filing compliance15/15 pts

Full 15 points when both annual accounts and confirmation statement are filed on time. Points are deducted for each overdue filing.

Maximum score is 100. Deductions apply for insolvency history, outstanding charges, going concern doubt, or disqualified officers.

Key FinancialsYear ending 31/12/2024

Net Worth

-£409k

Balance sheet strength

Cash

£69k

Cash in the bank

Net Current Assets

-£416k

Working capital

Current Assets

£142k

Current Liabilities

£558k

Fixed Assets

£7k

Debtors

£73k

6avg. employees+6

Balance Sheet

Assets less current liabilities-£409k
Prepared with Sage Accounts Production Advanced 2024 - FRS102_2024

EstimatesDerived

YearCurrent RatioImplied Profit
20240.25-£320k
20230.75-£87k
20220.99+£44k
20211.18+£47k
20201.14+£47k
20190.67+£4.3M
20180.03—

Derived from filed accounts. Not audited figures.