Formation Audio Ltd
07374735
Healthy
- Negative net worth (-10)
Details
Compliance
Accounts
Confirmation statement
Industry
Officers
Persons with Significant Control
Mr John Paul Braddock
British · England · Age 54
32, Bridle Road, Nottingham, NG14 5FS
Notified 06/04/2016
CompanyRankvs 7853+ SIC 59200 peers42
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How is this score calculated?
Net worth compared to all companies in the same SIC code with published accounts. Top quartile earns the full 25 points.
Workforce size relative to sector peers from the most recent accounts. A larger team generally signals commercial scale.
Current assets ÷ current liabilities. A ratio above 2× earns full marks; between 1–2× scores partially; below 0.5× scores minimal points.
One point per year of operation since incorporation, capped at 15. Older companies have a proven track record.
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 31/03/2025
Net Worth
-£8k
Balance sheet strength
Cash
£198
Cash in the bank
Net Current Assets
-£31k
Working capital
Current Assets
£6k
Current Liabilities
£36k
Fixed Assets
£25k
Debtors
£6k
Tax at Year End(2023)
Director Loans(2023)
Balance Sheet
EstimatesDerived
| Year | Current Ratio | Implied Profit | Est. Revenue |
|---|---|---|---|
| 2025 | 0.16 | -£2k | — |
| 2024 | 0.17 | -£4k | — |
| 2023 | 0.13 | -£5k | £22k |
| 2022 | 0.11 | — | — |
| 2021 | 0.13 | — | — |
| 2020 | 0.20 | — | — |
| 2019 | 0.60 | — | — |
Derived from filed accounts. Not audited figures.