Company Number: 13747004

Analysis Date: 2025-07-29 12:43 UTC

1. Credit Opinion: DECLINE
   VANOCH Ltd demonstrates no net assets or working capital as of the latest financial year ending April 2024, with a clear decline from prior positive equity. The balance sheet shows zero fixed assets and no current assets, indicating a lack of financial substance and no buffer to service debt or absorb operational shocks. Given the micro-entity status and absence of employees or trading activity reported, the company has minimal operational scale and no clear evidence of revenue generation or profitability to support repayment capacity. Without additional financial support or guarantees, the risk of default is high.

2. Financial Strength:
   The company’s balance sheet has deteriorated from net assets of £1,070 in 2023 to zero in 2024. Fixed assets have been fully disposed or impaired. Current assets remain at nil with no current liabilities, leaving no net working capital. Shareholders’ funds have been fully eroded, indicating no retained earnings or capital injection. This financial position suggests the company is either non-trading or in severe financial distress, lacking the capital base to support ongoing operations or investment.

3. Cash Flow Assessment:
   No cash or current assets are reported, and there is no indication of revenue or cash inflows. The absence of employees and lack of current liabilities imply minimal operational activity. The company does not demonstrate liquidity to cover short-term obligations or operating expenses. This weak cash position means it cannot service debt or meet commercial commitments without external funding.

4. Monitoring Points:

• Monitor for any filing of updated accounts indicating improvement in assets, cash flow, or profitability.
• Watch for changes in director appointments or PSC structure that may signal restructuring or recapitalisation.
• Track timely filing of confirmation statements and accounts to assess ongoing compliance and operational status.
• Observe any indications of trading activity or new contracts that could improve financial health.