THE AFRICAN CONSERVATION AND DEVELOPMENT FOUNDATION

Risk Rating: HIGH Justification: While the company faces zero solvency or liquidity pressure due to a complete absence of liabilities, the total lack of financial substance for a decade—despite an active status and a forestry-focused SIC code—presents severe operational and governance anomalies. An entity with zero assets, zero liabilities, and zero employees over a sustained period offers no financial visibility and raises significant concerns regarding off-balance-sheet activities or misrepresentation of its active status.

Key Concerns: - Zero Financial Footprint: The company has reported £0 in total assets, total liabilities, and net assets for ten consecutive years (2016-2025). For an entity classified under "Silviculture and other forestry activities," this complete absence of financial activity is highly irregular and suggests the company is either entirely dormant or operating entirely off-balance sheet. - Operational Disconnect: The company's SIC code implies physical operations related to forestry, yet there are no fixed assets, no current assets, and no employees. This disconnect raises immediate questions about what, if any, business is being conducted and how it is being financed. - Governance and Co-mingling Risk: The PSCs and officers consist of a closely linked group (the Pouakouyou family and Ms. Tataw). In micro-entities with zero reported financial activity, there is a heightened risk that any actual financial operations are being run through the personal accounts of the directors/PSCs rather than a formal business account, which poses severe governance and legal risks.

Positive Indicators: - Regulatory Compliance: The company is up to date with its statutory filings. Accounts up to 31 August 2025 have been filed, and the confirmation statement is current, with no overdue flags. - Zero Liabilities: The company has no creditors, no provisions for liabilities, and no accruals. Technically, it is not at risk of insolvency or creditor action. - Longevity: Incorporated in 2007, the entity has maintained its registered status for nearly 17 years, indicating an ability to maintain basic administrative existence.

Due Diligence Notes: - Verify Dormant vs. Active Status: Investigate why the company is not filed as dormant if it has had no financial transactions for a decade. If it is actively pursuing conservation or forestry work, there must be unreported financial flows that need to be identified. - Bank Account Verification: Request confirmation of whether a corporate bank account exists and is active. A complete absence of assets and liabilities usually implies no bank account, which is highly irregular for an active limited by guarantee foundation. - Charity Commission Status: As a "Foundation" limited by guarantee, determine if this entity is or should be registered with the Charity Commission. If it is a charity, its financial statements should be available from the Commission, which may reveal a different picture than the micro-entity accounts filed at Companies House.