Company Number: 12792181

Analysis Date: 2025-07-20 15:10 UTC

1. Credit Opinion: DECLINE
   Cornes & Co Ltd is a dormant company with minimal financial activity and negligible capital (£2 share capital). It has no operating history, revenue, profits, or assets beyond nominal cash and share capital. With no trading activity, the company cannot demonstrate the ability to service debt or generate cash flow. This presents a very high credit risk with no evidence of financial resilience or management of commercial obligations.

2. Financial Strength:
   The balance sheet shows net assets of £2, consisting solely of share capital. There are no liabilities, fixed or current assets, or retained earnings. This negligible equity base and absence of tangible assets indicate no financial strength or cushion to absorb economic shocks or fund operations.

3. Cash Flow Assessment:
   Cash holdings are £2, effectively zero for any operational or debt servicing purposes. There is no working capital, no revenue, and no evidence of cash inflows or outflows. The dormant status confirms no trading activity or cash generation. Liquidity is non-existent.

4. Monitoring Points:

• Monitor for any change in trading status or filing of accounts showing operational activities.
• Review any future financial statements for emergence of assets, revenues, or liabilities.
• Watch for any director changes or PSC declarations that might indicate a change in control or business strategy.
• Confirm filings are timely to avoid regulatory penalties.