Company Number: 15218591

Analysis Date: 2025-07-29 14:44 UTC

1. Risk Rating: HIGH

Justification: MB SOURCE LTD is a very recently incorporated micro-entity with minimal financial data and virtually no assets or operational history. The company shows only £1 in current assets and net assets, indicating no substantive capital or working capital. No profit and loss data is available, and there are no employees, suggesting no ongoing business activity or revenue generation to date. The very limited financial base and operational footprint create a high risk regarding solvency and liquidity.

2. Key Concerns:

• Minimal Financial Substance: Only £1 in net assets with no current liabilities reported, which is not sufficient to meet any meaningful obligations or operational needs.
• Lack of Operational History: Incorporated in October 2023, with no employees and no revenue or profit data filed, raising concerns about business sustainability and commercial viability.
• Director and Secretary Anomalies: The appointment and immediate resignation of a director on the same day (15 May 2025) and the director residing in the UAE while the company is UK-registered could indicate potential governance or control issues.

3. Positive Indicators:

• Compliance with Filings: Accounts and confirmation statements are filed on time with no overdue filings, indicating adherence to regulatory requirements.
• Clear Ownership: The single shareholder (Mr. Thiago Lezcano) holds full control and has directorship, which may simplify decision-making and accountability.
• No Indication of Insolvency or Liquidation: The company status is active with no signs of financial distress filings.

4. Due Diligence Notes:

• Investigate the nature and extent of any business activities undertaken since incorporation.
• Clarify the purpose and role of the director/secretary based in Dubai and understand the governance structure.
• Obtain any available management accounts or bank statements to assess liquidity and operational cash flows beyond the statutory filings.
• Confirm plans or evidence of capital injection or revenue generation to support ongoing operations.