NIC LOCAL LIMITED

Executive Summary

NIC LOCAL LIMITED is a dormant private limited company with minimal financial activity and nominal net assets, currently fully owned by Nic Services Group Limited. There are no immediate financial or compliance concerns; however, its dormant status limits insight into operational stability. Further clarification on director appointment dates and the company’s intended role within the group is recommended to complete risk evaluation.

NIC LOCAL LIMITED - Analysis Report

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.