Company Number: 13424043

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

1. Risk Rating: LOW to MEDIUM
   The company PB Logistic Services Ltd shows a modest but positive net asset position and no overdue filings, which supports a low to medium risk rating. However, limited scale and relatively small working capital pose some constraints on liquidity and operational flexibility.

2. Key Concerns:

• Modest Working Capital: Net current assets increased to £3,392 (2024) from £1,368 (2023), which remains low and could limit the ability to absorb unexpected cash demands.
• Limited Financial History and Size: Incorporated in 2021 and classified under Total Exemption Full accounts with minimal share capital (£1), the company is very small, limiting visibility on operational stability and resilience.
• Tax and VAT Liabilities: Current liabilities include significant VAT (£2,030) and corporation tax (£1,190), which require timely payment to avoid penalties and indicate some tax burden.

3. Positive Indicators:

• Positive Net Assets Growth: Net assets grew from £1,368 in 2023 to £3,392 in 2024, indicating some improvement in financial position.
• No Overdue Filings: Both accounts and confirmation statements are up to date, reflecting good regulatory compliance.
• Increasing Cash Balances: Cash increased from £5,760 to £8,068 year-on-year, which supports liquidity.
• Stable Directorship and Control: The main shareholder and director, Mr. Prabhjot Singh Bhandal, exercises full control; no director disqualifications or governance issues are apparent.

4. Due Diligence Notes:

• Review Detailed Profit & Loss: Profit and loss details were not filed; obtaining these would clarify profitability and cash flow generation.
• Assess VAT and Tax Payment History: Confirm timely settlement of VAT and corporation tax liabilities to verify tax compliance and cash outflow management.
• Evaluate Customer and Supplier Concentration: No trade debtors reported in 2024; investigate client base diversity and payment terms to understand cash flow reliability.
• Investigate Director Loan Account Movements: Although small (£27), review transactions for any related party loans or unusual financing arrangements.
• Confirm Business Model and Contracts: Given the SIC code (52290 - Other transportation support activities), validate ongoing contracts and market position for operational sustainability.