CENTRAVA LTD

Risk Rating: MEDIUM Justification: While the company demonstrates adequate liquidity and positive equity, significant red flags exist regarding corporate governance, operational stability, and sector-specific risks. The mutually exclusive Persons with Significant Control (PSC) declarations, frequent corporate rebranding in a high-risk financial sector, and unexplained long-term tax liabilities elevate the risk profile beyond standard small-company parameters.

Key Concerns: * Governance & Ownership Anomalies: The PSC register lists three different individuals (Mr James, Mr Afzalzada, and Mr Tareq) as owning more than 75% of the company's shares. This is legally impossible for a single share class and indicates either a severe administrative failing in Companies House filings or an intentionally opaque ownership structure. Additionally, Mr Abdul Salam Malik is listed as having significant influence without a clear legal basis, further muddying the control landscape. * Operational Instability & Sector Risk: The company has changed its name three times in five years (Noble Exchange Int Ltd, Bayat Traders Ltd, Safi Pay Ltd, and now Centrava Ltd). Operating under SIC code 64999 (Financial intermediation not elsewhere classified), frequent rebranding is a known red flag for regulatory evasion, prior compliance failures, or an unstable business model. * Unexplained Long-Term Tax Liabilities: The latest accounts show a sudden and significant increase in "Taxation and social security" creditors falling due after more than one year, rising from £2,783 to £11,968. For a small company, classifying tax as a long-term liability is unusual (Corporation Tax is typically due within 9 months of the year-end) and may indicate a dispute with HMRC, an ongoing investigation, or a structured payment plan for prior arrears.

Positive Indicators: * Strong Liquidity: The company holds £54,291 in cash against only £4,351 in current liabilities. This provides a robust current ratio and suggests the business is not facing immediate solvency pressures. * Consistent Equity Growth: Net assets have shown steady growth in recent years, climbing from £20,903 in 2022 to £38,963 in 2025, indicating the retention of profits rather than accumulated losses. * Regulatory Compliance: The company is up to date with its filing obligations for both accounts and confirmation statements, with no overdue flags, which demonstrates basic administrative functionality.

Due Diligence Notes: * FCA Authorization: As a company classified under financial intermediation, it is imperative to verify whether Centrava Ltd (and its previous iterations) holds the appropriate Financial Conduct Authority (FCA) authorization, or if it operates in an exempt capacity. The FCA register should be cross-referenced for all historical names. * PSC Clarification: Direct inquiries should be made to resolve the conflicting PSC declarations. The constitutional documents should be reviewed to establish the actual distribution of shares and voting rights. * Historical Asset Volatility: Investigate the massive drop in total assets from £723,610 in 2017 to £38,056 in 2018. The current filings do not explain whether this was due to a disposal, a write-off, or a restructuring of the business model. * Address Discrepancy: The company overview lists the registered address as "1 Ballards Lane," whereas the latest filed accounts text list the registered office as "239 Regents Park Road." This discrepancy should be clarified to confirm the current operational and legal address. * Nature of Tax Liability: The composition of the £11,968 long-term taxation liability must be investigated to ensure it does not represent an unresolved regulatory penalty or a liability that could supersede creditors in the event of insolvency.