Company Number: 12822305

Analysis Date: 2025-07-20 13:39 UTC

1. Risk Rating: MEDIUM
   DHAMI COURIER LTD shows improving net assets and fixed assets growth, but the presence of significant long-term creditors and relatively low current assets versus liabilities indicate moderate solvency and liquidity risk. The micro-entity status limits detailed financial disclosure, constraining full risk assessment.

2. Key Concerns:

• Long-term Liabilities: The company recorded £25,745 in creditors due after more than one year as of 2024, a substantial increase from zero the previous year. This level of long-term debt relative to assets may affect solvency if not managed prudently.
• Liquidity Position: Although net current assets improved to £4,513 in 2024, current assets remain modest (£5,584) compared to short-term creditor amounts, potentially indicating tight working capital management.
• Director Changes and Control: The company has had director turnover within a short timeframe and a single individual, Xxxxxx Xxxxxxxxname shown to subscribers, holds majority control of shares and voting rights. This concentration of control accompanied by director changes warrants governance scrutiny.

3. Positive Indicators:

• Growth in Net Assets: Net assets increased significantly from £24,899 in 2023 to £42,254 in 2024, reflecting improved equity and potential reinvestment or retained earnings.
• Increase in Fixed Assets: Substantial increase in fixed assets from £22,900 to £63,486 implies investment in operational capacity, which may support business sustainability.
• No Overdue Filings: Both accounts and confirmation statements are filed on time, indicating regulatory compliance and good governance on statutory reporting obligations.
• Employee Growth: The average number of employees rose from 4 to 5, suggesting modest operational expansion.

4. Due Diligence Notes:

• Examine the nature and terms of the long-term creditors to assess repayment schedules, interest obligations, and covenant risks.
• Review cash flow statements and management accounts (if available) to better understand liquidity and operational cash generation, not disclosed in micro-entity accounts.
• Investigate director changes and the reasons behind appointments and resignations to assess stability in leadership and governance practices.
• Verify related party transactions or loans, especially given the concentration of ownership and control.
• Assess market conditions and competitive positioning in the licensed carriers sector (SIC 53201) to evaluate sustainability of revenue streams.