Company Number: 14723404

Analysis Date: 2025-07-19 12:05 UTC

1. Risk Rating: MEDIUM
   Justification: Eugene Van Ltd is a recently incorporated micro-entity with modest turnover and minimal net assets, indicating an early-stage business with limited financial buffer. While it is currently solvent on paper and filing obligations are up to date, the very low net assets and minimal working capital raise concerns about resilience to cash flow shocks.

2. Key Concerns:

• Low Net Asset Base: The balance sheet shows net assets of just £1, effectively no equity cushion to absorb losses or support growth.
• Thin Profit Margins and High Staff Costs: Although a small profit (£678) was reported, staff costs (£68,569) are disproportionately high relative to turnover (£80,484), potentially pressuring future profitability.
• Single Director and PSC Concentration: Complete ownership and control by one individual (Evgheni Bidiuc) could present governance risks and lack of oversight, especially given no other directors or officers are listed.

3. Positive Indicators:

• Compliance with Filing Deadlines: All statutory filings (accounts and confirmation statements) are up to date with no overdue returns, indicating good regulatory compliance.
• Profitability Achieved in First Year: Despite being a start-up, the company generated a small profit, suggesting initial operational viability.
• Clear Industry Focus: The SIC codes (freight transport and removal services) identify a defined business sector, which can be understood and benchmarked for risks.

4. Due Diligence Notes:

• Verify cash flow statements and bank balances to assess liquidity beyond the limited balance sheet data.
• Investigate the nature of staff costs to understand if they relate to subcontractors, full-time employees, or the director, and their sustainability.
• Assess contracts or client pipeline to judge revenue stability and growth prospects.
• Review director background for any prior insolvencies or disqualifications, given sole control.
• Confirm no contingent liabilities or related party transactions not disclosed in accounts.