PELHAM STORAGE LIMITED
Company number 10342347 · 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 ASSESSMENT: PELHAM STORAGE LIMITED
1. Credit Opinion: CONDITIONAL
Reasoning: The credit decision is constrained by material data limitations. The company files as a "Small" entity, meaning abbreviated accounts only are publicly available, and critically, no financial statements have been provided in this assessment package. Without sight of balance sheet, profit & loss, or cash flow data, a full credit appraisal is impossible. The company appears to be a special purpose vehicle (SPV) within the Statera Energy group, evidenced by the £1 share capital and 75%+ control held by parent entities. Any credit extension should be conditional upon receipt of full audited accounts and a parent company guarantee from Statera Energy Limited.
2. Financial Strength
Assessment: INDETERMINATE — Group-Dependent
- Share Capital: £1 — consistent with a subsidiary/SPV structure funded via intercompany loans rather than standalone equity
- Ownership Structure: Three PSC declarations all reference Statera Energy entities with >75% share ownership and voting rights. This indicates PELHAM STORAGE LIMITED is wholly-owned within the Statera group, with decision-making controlled at parent level
- No Financial Data Available: Without filed accounts data, balance sheet strength cannot be assessed. The company's net worth, debt levels, and asset base are unknown
- Group Support Risk: While group ownership can provide financial backing, it also means the company's fortunes are tied to Statera Energy's overall financial health. In a distress scenario, group companies may be treated as a single economic unit
Key Concern: The £1 share capital and SPV-like structure suggests this entity may have minimal standalone financial resilience. Creditworthiness is likely derived entirely from the parent group.
3. Cash Flow Assessment
Assessment: CANNOT DETERMINE
- No turnover, profitability, or cash flow data available
- Working capital position unknown
- The SIC code (35110 — Production of Electricity) combined with the company name ("Storage") suggests this is likely a battery storage or peaking plant asset — capital-intensive with potentially lumpy revenue streams dependent on grid services and power price volatility
- Filing status is current (accounts not overdue), which is a positive compliance indicator
4. Monitoring Points
| Metric | Rationale |
|---|---|
| Statera Energy group accounts | Parent financial health is the primary credit driver |
| Filing timeliness | Late filing would signal operational or financial stress |
| Director changes | Four current directors — monitor for departures which may indicate group restructuring |
| Charge registrations | New security filings may indicate additional leverage |
| Energy market conditions | Revenue viability depends on power prices and grid service contracts |
| Intercompany balances | SPV structures often carry large intercompany debts — assess whether these are subordinated |
RECOMMENDATION: Do not extend credit on a standalone basis. Require (1) full group accounts for Statera Energy Limited, (2) parent company guarantee, and (3) confirmation of intercompany loan subordination before any material exposure.