ALDERLEY GROUP (SGP) LIMITED

Risk Rating: HIGH Justification: The company was incorporated extremely recently (September 2025) and has not yet filed any financial accounts, meaning there is zero historical financial data to assess solvency or liquidity. Furthermore, the company operates in the property development sector (SIC 41100), which is inherently capital-intensive and highly sensitive to economic cycles, presenting significant baseline risks for a newly formed entity without a demonstrated trading history.

Key Concerns: * Complete Absence of Financial Track Record: With the first accounts not due until June 2027, the company's solvency, liquidity, and operational cash flow are entirely opaque. There is no evidence yet that the business model is viable or that obligations can be met. * Capital-Intensive Sector Risk: Development of building projects (SIC 41100) requires significant upfront capital. New entrants in this sector frequently face severe liquidity constraints, cost overruns, and financing risks before generating any revenue. * Governance and Key-Person Risk: Significant control is evenly divided between two individuals with the same surname (Mr Bobby Kevin Corish and Mr Kevin Andrew Corish), each holding 25-50% of shares and voting rights. This near-equal split creates a potential for governance deadlock in the absence of clear shareholder agreements, and concentrates key-person risk heavily on just two related individuals.

Positive Indicators: * Current Statutory Compliance: The company is actively registered, not in liquidation or administration, and has no overdue filings. While expected for a new entity, it confirms basic administrative compliance at this stage. * Transparent Ownership: The People with Significant Control (PSC) register is fully populated and transparent, identifying the ultimate owners clearly and meeting statutory requirements. * Prestigious Registered Address: The company is registered at an address in Chelsea (SW3 3DD). While requiring verification, a premium address can lend initial credibility to a property development firm when engaging with counterparties and investors.

Due Diligence Notes: * Director Background Checks: Conduct comprehensive searches on both directors (Bobby Kevin Corish and Kevin Andrew Corish) to identify any previous directorships, historical insolvencies, or disqualifications. Their past track records are currently the only proxy for the operational risk of this new entity. * Address Verification: Investigate the registered address (50 Sloane Avenue) to determine if it is a physical operational headquarters, a serviced office, or a virtual address. Property development companies frequently use virtual addresses at inception, which is not inherently negative but requires context regarding their actual operational footprint. * Corporate Structure & Funding: Investigate whether ALDERLEY GROUP (SGP) LIMITED is a Special Purpose Vehicle (SPV) formed for a specific development project. If so, identify the source of seed capital, project financing, and any parent company guarantees. * Shareholder Agreements: Request copies of any shareholder or joint venture agreements between the two PSCs to understand how deadlocks will be resolved and how capital calls will be managed.