Owner and one non eligible EE

[Basically]

Any reason why an employer, who hires one part time EE to perform bookeeping with annual hours less than 1000, can't have a profit sharing plan and only cover himself?

[WDIK]

I believe Internal Revenue Code Section 410(b)(4) provides the basis for what you describe. Also see Form 5500-EZ and instructions, particularly for item 14.