Company Number: 12867243

Analysis Date: 2025-07-29 15:41 UTC

1. Risk Rating: LOW to MEDIUM
   The company presents a stable financial position with positive net assets and net current assets over recent years. However, the reduction in current assets and net assets from 2023 to 2024, although still positive, warrants monitoring. The absence of audit requirements (micro-entity exemption) limits the depth of assurance on financial accuracy.

2. Key Concerns:

• Declining Net Assets and Current Assets: Net assets decreased from £27,878 in 2023 to £20,761 in 2024, and current assets fell from £48,537 to £31,333, which could indicate tightening liquidity or increased operational costs.
• Director Changes and Control Consolidation: The recent director change with Farshad Zamani replacing Anna Kakouli, alongside apparent PSC control transfers, merits scrutiny regarding governance continuity and control concentration risks.
• Limited Financial Disclosure and Audit Exemption: As a micro-entity, the company benefits from simplified reporting and no audit requirement, which reduces transparency and increases reliance on management reporting.

3. Positive Indicators:

• Positive and Adequate Working Capital: The net current assets remain healthy at £19,424 as at 2024, indicating the company can meet short-term liabilities comfortably.
• Consistent Compliance with Filing Deadlines: No overdue accounts or confirmation statements are reported, reflecting good regulatory compliance.
• Sustained Business Operations: The company has been active since 2020 with a stable employee base (~4 employees) and continues to operate in a well-defined sector (take-away food and unlicensed restaurants) with an active website offering customer contact details.

4. Due Diligence Notes:

• Review the reasons behind the decrease in current assets and net assets between 2023 and 2024 to assess if it is seasonal, operational, or indicative of emerging financial stress.
• Investigate the implications of director resignation and appointment on company governance, including reviewing any changes in shareholding or voting rights associated with the PSC updates.
• Request management accounts or cash flow statements to better understand liquidity trends and operational cash management beyond balance sheet snapshots.
• Confirm the accuracy of the website and customer contact information and assess the company’s market positioning and reputation in the take-away food sector.
• Assess any contingent liabilities or off-balance sheet exposures not disclosed in the micro-entity accounts.