Company Number: 14484359

Analysis Date: 2025-07-20 18:48 UTC

1. Risk Rating: LOW

   Justification: NIC LOCAL LIMITED is a very recently incorporated private limited company (since November 2022) classified as dormant, with only nominal net assets (£1) and no trading activity reported. There are no overdue filings or insolvency indicators, and the company is fully owned and controlled by Nic Services Group Limited, a presumably established parent entity. The company’s dormant status and minimal financial activity imply negligible current financial risk.

2. Key Concerns:

   • Dormant Status: The company has filed dormant accounts indicating no trading or financial transactions. This limits the ability to assess operational or financial performance.
   • Minimal Net Assets: Reported net assets and shareholders’ funds stand at £1, reflecting essentially no capital base or financial buffer.
   • Recent Director Appointment Date Discrepancy: One director, Kevin Paul Grace, is recorded as appointed on 24 March 2025, which is a future date relative to the latest filings. This may be a data error or indicative of delayed update processes that merit verification.

3. Positive Indicators:

   • Compliance with Filings: Both accounts and confirmation statements are up-to-date with no overdue filings or penalties.
   • Clear Ownership and Control: 75-100% ownership and voting rights are held by Nic Services Group Limited, providing clarity on control and potentially access to support or resources if needed.
   • Experienced Leadership: Directors include individuals with specified roles such as Chairman, Chief Executive, and Group Finance Director, suggesting a governance structure is in place despite dormancy.

4. Due Diligence Notes:

   • Verify the reason for the future-dated director appointment to ensure data accuracy.
   • Understand the strategic purpose of NIC LOCAL LIMITED within the Nic Services Group structure given its dormant status.
   • Confirm whether there are plans to activate trading or if the company will remain dormant, as this impacts future risk assessment.
   • Review the parent company’s financial health and operational status, as this company is wholly owned and likely reliant on the group.