OH DORMANT LTD
Company number 07200333 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Credit Analysis: OH DORMANT LTD (07200333)
1. Credit Opinion: DECLINE
This application must be declined. The company is technically insolvent with negative net assets of £3,110 as at 31 March 2025, representing a dramatic deterioration from positive net assets of £73,939 just four years prior. Most critically, the company changed its name from "Open House Estate Agents Limited" to "OH DORMANT LTD" on 30 May 2025, and the latest accounts contain "No description of principal activity" — both strong indicators the business has ceased or is ceasing trading. Extending credit to an apparently dormant or winding-down entity carries unacceptable default risk.
2. Financial Strength
Balance sheet position is critically weakened and deteriorating:
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | £153,539 | £166,709 | £184,054 | £141,271 | £168,071 |
| Total Liabilities | £106,888 | £116,334 | £88,033 | £49,061 | £50,000 |
| Net Assets | (£3,110) | £614 | £46,260 | £68,815 | £73,939 |
The erosion is stark: approximately £77,000 of shareholder equity has been destroyed over four years. The company has moved from a reasonably capitalised position to insolvency.
Key balance sheet concerns: - Negative net assets indicate the company cannot meet all its obligations if they fell due immediately - Long-term creditors of £49,061 have remained static year-on-year, suggesting a related-party loan or obligation with no apparent repayment activity - Fixed assets of only £3,582 offer negligible asset cover for any facility - Share capital remains at just £100, with the P&L reserve driving the entire equity position into negative territory
3. Cash Flow Assessment
Liquidity appears superficially adequate but is deceptive:
- Net current assets: £43,069 (down from £46,181 in 2024)
- Current ratio approximately 1.40x (£149,957 / £106,888)
While current assets exceed current liabilities, this working capital position is declining and provides no cushion for any new debt service. Without a P&L account (micro-entity filing exempts this), we cannot assess trading profitability, but the consistent erosion of net assets strongly implies ongoing trading losses.
Critical concern: The nature of current assets is unknown — if a significant portion is debtors, realisable value may be lower than book value, particularly if the business is winding down.
4. Monitoring Points
Should any existing exposure exist, the following require immediate attention:
-
Trading Status Confirmation — The name change to "OH DORMANT LTD" and absence of a principal activity description must be clarified. If the company has genuinely ceased trading, any outstanding receivables should be monitored for collectability.
-
Confirmation Statement Overdue — As of the data provided, the confirmation statement due date has passed without filing. This is a compliance failure that may indicate administrative neglect or pre-dissolution behaviour.
-
Long-term Creditor Identity — The static £49,061 long-term creditor warrants investigation — is this a director loan, related-party obligation, or trade debt? Its nature significantly affects risk assessment.
-
PSC Register Discrepancy — The PSC register lists Mr David John Clement (25-50% ownership) who does not appear as a director, whilst director Elliane Louise Venn does not appear as a PSC. This mismatch requires clarification.
-
Asset Realisation Risk — If the company is becoming dormant, current assets may be run down without replenishment, rapidly eroding the already thin liquidity position.