23 Formation Music Limited
12284594
Some Concerns
- No accounts filed in last 18 months (-5)
- Negative net worth (-10)
- Current liabilities exceed current assets (-10)
Details
Compliance
Accounts
Confirmation statement
Industry
Officers
director · Since 28/10/2019
COMPANY DIRECTOR
BRITISH · UNITED KINGDOM · Age 47
Also on 1 other board
Persons with Significant Control
Mr Micheal Olumide Jinadu
British · United Kingdom · Age 47
20, Wenlock Road, London, N1 7GU
Notified 28/10/2019
CompanyRankvs 517+ SIC 47630 peers41
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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 31/10/2022
Net Worth
-£5k
Balance sheet strength
Cash
—
Cash in the bank
Net Current Assets
—
Working capital
Current Assets
£84k
Current Liabilities
£92k
Fixed Assets
£3k
EstimatesDerived
| Year | Current Ratio | Implied Profit |
|---|---|---|
| 2022 | 0.92 | -£28k |
| 2021 | 1.42 | +£23k |
| 2020 | 0.97 | — |
Derived from filed accounts. Not audited figures.