Company Number: 13910714

Analysis Date: 2025-07-20 13:48 UTC

1. Risk Rating: LOW
   Pluviam Environmental Ltd demonstrates a solid net current asset position with positive working capital, no overdue filings, and no indication of financial distress. The company is active, compliant with filing deadlines, and has shown growth in net assets over two years, which supports a low risk rating.

2. Key Concerns:

• Limited Operating History: Incorporated in 2022, the company has a short financial track record, potentially limiting the ability to assess long-term operational stability.
• Micro Entity Reporting: The company files under micro-entity provisions with unaudited financial statements, which may limit transparency and detail for deeper financial analysis.
• Concentration of Control: Two directors each hold 25-50% ownership and voting rights, which could pose governance risks if disagreements arise, although this is typical for small private firms.

3. Positive Indicators:

• Strong Liquidity Position: As of 31 March 2024, current assets (£182k) significantly exceed current liabilities (£89k), resulting in net current assets of approximately £93k, indicating good short-term liquidity.
• Increasing Equity Base: Shareholders’ funds increased from £26.7k in 2023 to £95k in 2024, reflecting retained earnings or capital injections supporting solvency.
• Compliance and Governance: All statutory accounts and confirmation statements are filed on time with no overdue returns, and the company remains active and solvent.
• Experienced Management: Directors have relevant professional backgrounds (consulting engineer and hydrologist) aligned with the company's consulting activities.

4. Due Diligence Notes:

• Verify the nature and sustainability of revenue streams and client base to assess operational stability beyond the balance sheet.
• Review any off-balance-sheet liabilities or contingent risks not evident in micro-entity filings.
• Confirm the accuracy and completeness of financial data given the unaudited status of accounts.
• Assess the company’s contracts, especially in environmental consulting, for dependency on limited clients or projects.
• Investigate the internal controls and governance practices given the small size and concentrated ownership.