BONGA LTD

Executive Summary

BONGA LTD, a newly incorporated micro-entity, currently presents a high risk profile due to negative net assets and lack of operational activity. While it complies with filing obligations and has clear ownership structure, the company’s solvency and liquidity remain significant concerns. Further due diligence is essential to understand the underlying financial position and business viability.

BONGA LTD - Analysis Report

Company Number: 14717886

Analysis Date: 2025-07-29 17:15 UTC

1. Risk Rating: HIGH
   The company shows a negative net asset position of £8,948 as at 31 March 2024, indicating insolvency on a balance sheet basis. Although it is a micro-entity with minimal operations and no employees, the negative equity and low asset base present a substantial solvency risk.

2. Key Concerns:

• Negative net assets of £8,948 suggest liabilities exceed assets, raising questions on the company’s ability to meet obligations.
• No employees and no reported revenues or turnover, indicating limited operational activity and uncertain sustainability.
• Very recent incorporation (March 2023) with limited financial track record to assess stability or growth prospects.

3. Positive Indicators:

• All statutory filings (accounts and confirmation statements) are up to date and not overdue, indicating compliance with regulatory requirements.
• Ownership and control are concentrated under a single individual with full voting rights and director control, which may simplify governance and decision-making.
• Appointment of an additional director in October 2024 could signal intentions to strengthen management.

4. Due Diligence Notes:

• Investigate the nature of the negative net asset figure and whether it reflects start-up losses, shareholder loans, or other liabilities.
• Review cash flow statements or bank records (not included here) to assess liquidity and ability to fund ongoing operations.
• Clarify business model and revenue generation plans given the absence of employees and minimal financial data.
• Confirm if any related party transactions or director loans exist that may impact financial stability.
• Assess background and experience of directors, particularly given the company’s recent formation and current financial position.