Company Number: 13125025

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

1. Risk Rating: LOW
   VAXO LTD demonstrates a stable and improving financial position with low current liabilities relative to cash and net current assets. The company is compliant with filing deadlines and shows no indications of distress or regulatory non-compliance.

2. Key Concerns:

• Limited Operating History: Incorporated in 2021 and with no employees recorded in the latest year, the company’s operational scale and sustainability remain uncertain.
• Minimal Share Capital: Share capital is nominal (£1.00), which could limit the company’s capacity to raise equity finance quickly if needed.
• Absence of Profit and Loss Details: The director has elected not to include a profit and loss account, limiting insight into operational profitability and revenue trends.

3. Positive Indicators:

• Strong Liquidity: Cash at bank increased to £44,021 in 2024 from £22,911 the prior year, significantly exceeding current liabilities of £9,558, indicating good short-term liquidity.
• Growing Net Assets: Shareholders’ funds more than doubled from £15,875 to £34,973 in one year, reflecting retained earnings or capital injections strengthening solvency.
• Compliance: Accounts and confirmation statements are filed on time with no overdue filings or penalties noted.
• Tangible Fixed Assets Present: The company has started to invest in tangible assets (£510) which may support operational capacity.

4. Due Diligence Notes:

• Obtain Profit and Loss Information: Review underlying profit and loss data or management accounts to assess revenue generation, expense management, and operating cash flows.
• Understand Business Model and Client Base: Clarify the nature of medical specialist activities and property unit trust activities and verify revenue sources, given the dual SIC codes.
• Verify Director and Ownership Background: Confirm there are no undisclosed director disqualifications or significant control issues.
• Assess Employee and Operational Plans: Investigate why no employees were reported for 2024 and whether outsourcing or subcontracting is employed.
• Review Tax Position: Confirm the corporation tax liabilities and payments align with expected taxable profits.