NEOS 17 LTD

Executive Summary

NEOS 17 LTD is a dormant company with nominal financial resources and no trading history. It forms part of a group that recently entered administration, posing significant contingent risk given guarantees on substantial group borrowings. Credit approval is declined due to lack of independent financial strength and cash flow, with monitoring focused on parent group developments and potential changes in company status.

NEOS 17 LTD - Analysis Report

Company Number: 14267541

Analysis Date: 2025-07-19 12:23 UTC

1. Credit Opinion: DECLINE
   NEOS 17 LTD is a dormant entity with no trading activity or income, reflected in its minimal financial figures (net current assets and shareholders’ funds of £1). It is part of a group that recently underwent a pre-pack administration, indicating financial distress at the parent company level. The company itself provides an intercompany guarantee for significant borrowings (£19.3M) at the group level, which increases contingent risk without direct revenue or assets backing NEOS 17 LTD’s obligations. The absence of trading history, combined with parent group financial instability, suggests material credit risk.

2. Financial Strength:
   The balance sheet is effectively nominal, with only £1 in current assets and shareholders’ funds, confirming no operational assets or reserves. The company is classified as dormant and did not trade during the period, so it has no fixed assets or meaningful working capital. The equity base is minimal, providing no buffer to absorb financial shocks or losses. The company’s financial position is weak and dependent on the wider group’s health.

3. Cash Flow Assessment:
   As a dormant company, NEOS 17 LTD has no cash flow generation or operating liquidity. It relies on the parent group for capital and funding. The recent administration and restructuring of the parent entity raises concerns about ongoing liquidity support. There is no indication of internal cash flow or capacity to service any debt or contingent liabilities independently.

4. Monitoring Points:

• Parent group financial performance and restructuring progress, especially CC STIM UK TOPCO LTD and NEOS TOPCO LTD.
• Any change in trading status or asset base of NEOS 17 LTD that might affect its ability to provide guarantees or service liabilities.
• Director and ownership changes that could impact governance and financial stewardship.
• Filing compliance and any emergence from dormancy that could alter risk profile.