Company Number: 14811376

Analysis Date: 2025-07-29 13:55 UTC

1. Risk Rating: HIGH
   Fendrive Limited exhibits a high risk profile primarily due to negative net assets and current liabilities exceeding current assets, indicating potential solvency and liquidity challenges for this startup-stage software development company.

2. Key Concerns:

• Negative Net Assets and Working Capital Deficit: The company shows net liabilities of £1,212 and net current liabilities of £2,479, meaning it owes more than it owns in short-term assets, a critical red flag for solvency.
• Limited Cash Reserves: Cash on hand is only £712, insufficient to cover current liabilities of £3,671, raising short-term liquidity concerns.
• Early Stage and Small Scale: Incorporated in April 2023 with two employees and minimal tangible assets, it is too early to assess operational sustainability or revenue generation, with no turnover or profit data disclosed.

3. Positive Indicators:

• Compliant Filing Status: Accounts and confirmation statement filings are up to date with no overdue filings or penalties, reflecting good regulatory compliance.
• Clear Ownership and Control: Two directors each hold substantial but balanced shareholdings (25-50%), providing stable governance structure.
• Tangible Assets Present: The company possesses office equipment valued at £1,267 net of depreciation, indicating some investment in operational infrastructure.

4. Due Diligence Notes:

• Verify current cash flow projections and funding plans to address working capital deficit.
• Investigate revenue generation activities and contracts to assess operational viability.
• Review directors’ experience and track record in software development startups.
• Confirm absence of director disqualifications or past insolvencies.
• Monitor subsequent filings for improvements in financial position or evidence of capital injections.