WEEECO LTD

Risk Rating: HIGH The company is technically insolvent, having maintained a negative net asset position (£-9,039) and a shareholders' deficit (£-10,039) consistently for at least the last seven financial years. With only £1 in cash and no visible trading activity, the company is entirely dependent on the forbearance of its creditors to continue as a going concern.

Key Concerns: - Technical Insolvency: The company’s net assets and shareholders' funds are deeply negative. A net asset position of -£9,039 means the company's liabilities significantly exceed its assets, posing a severe solvency risk. - Zero Liquidity: The balance sheet shows a mere £1 in cash against £9,040 in current liabilities. There is no working capital available to meet obligations, and no current assets (such as trade debtors) that could be converted to cash. - Operational Dormancy: The financial statements explicitly state that the average number of employees during the year was nil. Combined with the complete absence of turnover, trade debtors, or operating costs in the filings, this indicates the business is not generating revenue and is likely operationally dormant or a non-trading shell.

Positive Indicators: - Regulatory Compliance: Despite the poor financial position, the company is up to date with its filing obligations. Accounts are filed and not overdue, which suggests the directors are maintaining basic administrative and statutory compliance, reducing the risk of forced strike-off by Companies House. - Creditor Stability: The current liabilities have remained exactly £9,040 for seven consecutive years (2017-2024). This static balance strongly suggests the debt is a non-interest-bearing related-party or director loan rather than an aggressive trade creditor, meaning the risk of forced liquidation by a third party is minimal. - Longevity: Incorporated in 2005, the company has existed for nearly two decades, demonstrating an ability to survive previous business cycles, even if currently in a dormant state.

Due Diligence Notes: - Nature of the Liability: It is critical to confirm who the £9,040 is owed to. If, as suspected, this is a director or parent company loan, the risk profile is lower than if it were a trade debt, as related parties are unlikely to force the company into insolvency over a static, long-standing debt. - PSC Structure Overlap: The Persons with Significant Control (PSC) register lists both Mr. Michael John Every and Avc Weeeco Limited as owning "more than 75%". This overlap needs clarification to understand the true control structure and whether Avc Weeeco Limited is the parent company providing financial support. - Future Intentions: Given the SIC code (38320 - Recovery of sorted materials) but zero operational activity, inquiries should be made into the directors' intentions for this entity. It may be a dormant group holding company, a vessel for intellectual property, or a company awaiting dissolution. - Filing Date Anomaly: The latest filed accounts text notes the financial statements were approved on "29 September 2025", which is a future date relative to the filing period. This should be verified with Companies House to ensure there are no administrative errors or discrepancies in the public record.