Risk Analysis: 07817312 LIMITED

1. Risk Rating: HIGH

Justification: The company exhibits multiple serious red flags, most critically the unexplained disappearance of approximately £3.4 million in net assets between 2019 and 2020, transitioning to a dormant shell with £1 in net assets thereafter. Combined with three name changes (most recently to the company registration number), foreign ownership through a foundation structure, and a declaration that the company "has never traded" despite clear evidence of historical asset holdings, this entity presents significant concerns around asset stripping, transparency, and ultimate beneficial ownership.

2. Key Concerns

a) Unexplained Disappearance of £3.4M in Net Assets The financial history reveals net assets of £3,427,905 (2019) dropping to £1 (2020) with no visible explanation in the dormant accounts. This suggests a substantial transfer of assets out of the company—whether through dividends, asset sales, intercompany transfers, or other mechanisms. The absence of filed accounts providing narrative disclosure for this period (dormant companies file minimal information) makes it impossible to determine the legitimacy of this extraction. This is the single most concerning feature of this entity.

b) Name Change to Company Number and Historical Rebranding Pattern The company has changed its name three times: - MALERON CONSTRUCTION LTD → ARENA & PARTNER CONSTRUCTION LTD (2016) - ARENA & PARTNER CONSTRUCTION LTD → JABARDO HOLDING GROUP LTD (2016, same day as incorporation anniversary) - JABARDO HOLDING GROUP LTD → 07817312 LIMITED (July 2026)

Changing to a company number as the registered name is uncommon and typically signals either an intention to dissolve or an effort to distance the entity from its trading history. The progression from construction to holding group to a bare number suggests deliberate obfuscation of the business trajectory.

c) Contradictory "Never Traded" Declaration and Complex Ownership The latest accounts state the company "has never traded" for the period ending 31 May 2025. While technically possible under dormant company rules for recent periods, this declaration sits uncomfortably alongside SIC codes covering venture capital, property unit trusts, real estate trading, and management consultancy—not typical classifications for a never-traded entity. Furthermore, the PSC register shows both Eibt Foundation (corporate entity, >75% shares) and Mr Massimiliano Arena (individual, >75% shares) holding overlapping control thresholds, suggesting a complex share class structure that obscures true ownership. The Swiss and Italian nationalities of directors, combined with a foundation structure, raise questions about transparency of ultimate beneficial ownership.

3. Positive Indicators

• Filing Compliance: The company is currently up to date with both accounts and confirmation statement filings, with no overdue status. This suggests basic administrative compliance is maintained.

• No Insolvency Proceedings: The company is not in liquidation, administration, or receivership. There are no visible disqualification orders against the directors in the provided data.

• Long-Standing Entity: Incorporated in 2011, the company has maintained active status for over 14 years, indicating some degree of ongoing purpose or stewardship.

• Legitimate Use of Dormant Status: If the company genuinely ceased trading and distributed assets lawfully, the dormant status and minimal filings are procedurally correct under UK company law.

4. Due Diligence Notes

Priority Investigations:

1. Asset Transfer Documentation (2019-2020): Obtain the full filed accounts for the year ending 31 May 2020—the critical transition period. Determine exactly how £3.4M in net assets was disposed of. Request board resolutions, dividend declarations, or sale agreements that authorized the transfer. This is essential to rule out fraudulent preference, transactions at undervalue, or breach of director duties.

2. Eibt Foundation Beneficial Ownership: Investigate the jurisdiction, registration, and ultimate beneficial owners of Eibt Foundation. Foundations can be used to obscure true ownership, particularly in cross-border contexts. Determine whether this is a Liechtenstein, Swiss, or other jurisdiction foundation and identify the beneficial owners behind it.

3. Related Party Transactions: Examine whether the asset transfers went to connected parties, related companies, or the directors personally. Cross-reference Mr. Arena's other directorships and the Eibt Foundation's other UK company involvements.

4. Name Change Rationale: The July 2026 name change to the company number is recent and unusual. Contact the company to understand the rationale—is dissolution planned? Was the name changed to facilitate a sale of the entity?

5. Berkeley Square Address Verification: The registered address at 2nd Floor Berkeley Square House is a well-known virtual office/serviced office location. Confirm whether this is merely a correspondence address or whether any substantive operations occur there.

6. SIC Code Consistency: The registered SIC codes (venture capital, property unit trusts, real estate) are inconsistent with a dormant company that "has never traded." Clarify whether these reflect historical activities or planned future activities.

7. Director Duplicate Entry: Massimiliano Arena appears twice in the officer list, which may be an administrative error or may indicate different appointment dates/roles that should be clarified.