Company Number: 15168961

Analysis Date: 2025-07-20 19:06 UTC

1. Risk Rating: LOW

Justification: BILLED LTD is a newly incorporated micro-entity with a positive net asset position and net current assets indicating working capital sufficiency. There are no overdue filings or indications of regulatory non-compliance. The company has only one employee (the director) and is exempt from audit due to its size, which is common for micro-companies.

2. Key Concerns:

• Limited operational history: Incorporated in September 2023, the company has less than two years of trading history, which limits assessment of business sustainability and profitability trends.
• Modest asset base: Fixed assets and current assets are small in absolute terms, which may limit operational scalability and resilience to shocks.
• Single director and controlling shareholder: Concentration of control may pose governance risks and potential lack of independent oversight.

3. Positive Indicators:

• Positive net current assets (£3,603) and net assets (£10,746) suggest the company can meet short-term obligations.
• No overdue statutory filings; accounts and confirmation statements are up to date, indicating compliance with regulatory requirements.
• Clear ownership and control structure with Mr. William Edwards holding majority shares and directorship, simplifying accountability.

4. Due Diligence Notes:

• Investigate the company's business plan and revenue generation to assess operational viability and growth prospects given limited trading history.
• Review cash flow statements or management accounts (if available) to evaluate liquidity beyond balance sheet snapshots.
• Confirm absence of any related party transactions or contingent liabilities that could affect financial stability.
• Monitor any changes in directorship or ownership to detect governance shifts.
• Consider client and supplier references given the construction industry SIC code (41202) to validate business activity and reputation.