Company Number: 12759211

Analysis Date: 2025-07-29 16:56 UTC

1. Risk Rating: LOW to MEDIUM
   HARVEC LIMITED shows a positive net asset position with improving working capital in the latest financial year. There is no indication of overdue filings, liquidation, or administration. However, the company is classified as a micro-entity with limited financial disclosure and a small share capital, which suggests a modest scale of operations and potential sensitivity to cash flow fluctuations.

2. Key Concerns:

• Low Share Capital: Share capital is only £1.00, indicating minimal equity buffer, which may limit financial flexibility.
• Fluctuating Asset Base: The fixed assets and total net assets have significantly decreased compared to earlier years (notably 2020 and 2021), suggesting possible asset disposals or write-downs that require explanation.
• Director and PSC Changes: Recent changes in directors and persons with significant control, including a new director appointed after the latest accounts date, could indicate potential governance shifts or restructuring that warrants closer review.

3. Positive Indicators:

• Improved Liquidity: Net current assets increased substantially in the latest year (£20,646) compared to previous years, reflecting better short-term financial health and ability to meet liabilities.
• Compliance and Filing: No overdue accounts or confirmation statements, demonstrating regulatory compliance and good corporate governance practices.
• Stable Operating Presence: Active status since incorporation in 2020 with evidence of growing employee numbers (from 0 to 2) indicates operational activity and potential business development.

4. Due Diligence Notes:

• Investigate the cause for the significant reduction in fixed assets and net assets from 2020/21 levels to the latest years, including any asset disposals or impairments.
• Review the impact of director and PSC changes on company strategy and control, particularly the recent appointments and resignations.
• Obtain detailed cash flow statements and profit & loss data, if available, to assess operational profitability and liquidity beyond balance sheet snapshots.
• Confirm the nature of the wholesale trade activity and customer base to evaluate business sustainability and industry risk exposure.