QUALITAIR AVIATION SERVICES LIMITED
Company number 02115309 · 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: QUALITAIR AVIATION SERVICES LIMITED
1. Credit Opinion: DECLINE
Recommendation: DECLINE — The company is subject to an active proposal to be struck off the Companies House register. This represents an immediate and disqualifying credit risk. A strike-off proposal indicates the company is either voluntarily winding down or has failed to respond to statutory filing requirements, and in either scenario, extending credit would be imprudent.
No financial statements were provided in the data, making quantitative assessment impossible. However, the regulatory status alone renders the application unbankable on standard commercial terms.
2. Financial Strength
Assessment: UNSATISFACTORY / UNABLE TO DETERMINE
| Metric | Value | Comment |
|---|---|---|
| Share Capital | £117 | Nominal only; provides no meaningful cushion for creditors |
| Net Assets | Not provided | Cannot assess balance sheet solvency |
| P&L Reserve | Not provided | Cannot assess retained profitability |
| Filing Category | Full | Required to file full accounts, but data not available in submission |
Key Concerns: - The company has minimal stated share capital (£117), which is typical of older incorporated entities but offers zero loss-absorption capacity - As a wholly-owned subsidiary of Qualitair Aviation Group Limited (which holds >75% shares and voting rights), there is related-party dependency risk — the parent's financial health would need separate assessment - No financial history has been supplied for review, preventing any leverage, solvency, or profitability analysis
3. Cash Flow Assessment
Assessment: CANNOT BE COMPLETED
No cash flow, working capital, or trading data was provided. The following cannot be determined:
- Debt service coverage ratio
- Working capital position (current assets minus current liabilities)
- Operating cash generation
- Liquidity ratios
Observations from Available Data: - The company operates in two SIC codes (30300 — aerospace manufacturing; 78200 — temporary employment agencies), suggesting it may serve as an employment/contracting vehicle within the aviation sector - The website description references "partnering with talented people" and being "part of one of the world's leading talent companies," consistent with a staffing/recruitment model within aerospace - Recruitment/staffing businesses are typically asset-light with cash flow volatility tied to client demand cycles
4. Monitoring Points
If circumstances change and the strike-off proposal is withdrawn, the following would require verification before any credit facility could be reconsidered:
| Priority | Monitoring Point | Rationale |
|---|---|---|
| Critical | Strike-off status | Must confirm the proposal has been formally withdrawn/suspended before any engagement |
| Critical | Latest filed accounts | Obtain and review full accounts for FY ending 31 December 2024 when available |
| High | Parent company financials | Assess Qualitair Aviation Group Limited's balance sheet and willingness to provide guarantees |
| High | Related-party transactions | Evaluate intercompany balances and any creditor position the parent may hold |
| Medium | Sector exposure | Aviation staffing is cyclical; assess order book and client concentration |
| Medium | Director disqualification checks | Multiple officers listed; standard due diligence required |
| Low | Filing compliance | Ensure confirmation statements and accounts remain current |
Additional Risk Factors
- Corporate Structure: The company is controlled by a corporate PSC (Qualitair Aviation Group Limited). In a distress scenario, parent company interests may take priority over trade creditors
- Officer Complexity: The company has an unusually large board (7 directors, 3 secretaries) for what appears to be a small/medium entity, which may indicate complex governance or parent-company appointments
- Name Changes: Three previous names suggest historical rebranding or restructuring, warranting investigation into whether these reflect commercial evolution or prior financial difficulties