ELEVETIX LIMITED

Executive Summary

Elevetix Limited shows signs of financial strain, primarily driven by a significant increase in current liabilities that outweigh current assets, resulting in negative working capital. Although shareholders' funds have improved and filings are current, the company’s liquidity and operational viability remain concerns requiring further detailed investigation. Immediate focus should be on understanding creditor terms and cash flow management to evaluate the company’s ability to meet short-term obligations.

ELEVETIX LIMITED - Analysis Report

Company Number: 13919899

Analysis Date: 2025-07-29 12:09 UTC

1. Risk Rating: HIGH
   The company exhibits a negative net working capital position and limited cash resources relative to current liabilities. Despite the presence of fixed assets, the substantial increase in short-term creditors compared to prior years signals potential solvency and liquidity challenges.

2. Key Concerns:

• Negative Net Current Assets: The company’s current liabilities (£7,146) significantly exceed current assets (£3,265) as of the latest accounts, resulting in net current liabilities of £3,881. This indicates potential difficulty in meeting short-term obligations.
• Rapid Growth in Creditors: Current liabilities have surged from £103 to £7,146 within one year without a corresponding increase in liquid assets, raising concerns about creditor payment capacity.
• No Employees and Limited Operational Data: The company reports no employees and minimal turnover data, which restricts assessment of operational sustainability and revenue generation capability.

3. Positive Indicators:

• Shareholders’ Funds Improvement: Shareholders’ funds have improved from negative £203 in 2023 to a positive £1,397 in 2024, reflecting some equity injection or retained earnings.
• Tangible Fixed Assets: The company holds tangible fixed assets valued at £5,278, which may provide some collateral value.
• Up-to-Date Filings: Both annual accounts and confirmation statements are filed on time, implying compliance with statutory filing requirements.

4. Due Diligence Notes:

• Investigate the nature and terms of the increased trade creditors to assess if these are short-term payables or if there is any deferred payment arrangement.
• Review cash flow forecasts and management plans for liquidity improvement, including any planned capital injections or credit facilities.
• Understand the source and valuation of tangible fixed assets and whether they can be liquidated or utilized to alleviate liquidity pressures.
• Assess the business model and revenue streams given the absence of employees and limited financial disclosures on turnover or profitability.
• Confirm no director disqualifications or regulatory issues associated with the sole director, Mr. Nikolaas Francois Joanna Faes.