Company Number: 14933451

Analysis Date: 2025-07-29 19:50 UTC

1. Risk Rating: LOW
   Justification: Noir Capital Ltd is a very recently incorporated private limited company that has filed dormant accounts with minimal financial activity, showing nominal net assets of £2. The company is compliant with filing deadlines, and there are no indications of financial distress or regulatory issues at this early stage.

2. Key Concerns:

• Minimal financial activity: The company reported only £2 in current assets and net assets, indicating no operational or trading activity to date.
• Limited financial history: Incorporated in mid-2023, there is insufficient financial data to assess operational sustainability or cash flow robustness.
• Small shareholder base with equal control: Both directors hold 25-50% share and voting rights, concentrating control which could pose governance risks if conflicts arise.

3. Positive Indicators:

• Up to date filings: Both accounts and confirmation statement are timely filed with no overdue submissions or compliance concerns.
• Directors and PSCs aligned: The directors are also the persons with significant control, suggesting clear leadership and accountability.
• No liabilities: Absence of current liabilities reduces immediate solvency risks.

4. Due Diligence Notes:

• Investigate business plan and capital injection intentions to understand future operational scale and funding sources.
• Monitor subsequent accounts for trading activity, revenue generation, and cash flow development.
• Review director backgrounds and any potential related party transactions given the shared control structure.
• Confirm absence of any contingent liabilities or off-balance sheet obligations.