RITE OF PASSAGE LIMITED

Executive Summary

RITE OF PASSAGE LIMITED is a newly formed dormant company with no trading history or financial activity, showing only nominal share capital and cash. Given the absence of operational data and financial strength, it is unsuitable for credit facilities at this time. Future credit consideration should await evidence of trading commencement and positive financial performance.

RITE OF PASSAGE LIMITED - Analysis Report

Company Number: SC782943

Analysis Date: 2025-07-29 13:32 UTC

1. Credit Opinion:
   DECLINE. RITE OF PASSAGE LIMITED is a newly incorporated private limited company that has filed dormant accounts for its first financial year, showing only nominal share capital and cash (£1 each). With no trading activity, no revenues, and minimal financial data, the company currently demonstrates no capacity to service debt or meet credit obligations. There is no evidence of business operations, financial performance, or cash flow generation to support credit extension at this stage.

2. Financial Strength:
   The balance sheet is minimal and static, reflecting a dormant status: cash at bank of £1, net assets of £1, and shareholders' funds of £1. There are no fixed assets, receivables, or liabilities. The company carries no financial strength or capital buffer and has no track record of financial performance or growth. Its financial position is effectively a shell, with no measurable stability or resilience.

3. Cash Flow Assessment:
   The company’s cash position is negligible (£1), and as a dormant entity, it has no operational cash inflows or outflows. Working capital is effectively zero. There is no evidence of liquidity or the ability to generate or manage cash flow. Without trading activity, the company cannot service debt or operational expenses.

4. Monitoring Points:

• Monitor for the commencement of trading activity and filing of full accounts reflecting operational performance.
• Track any changes in financial position once trading begins, including revenue generation, profitability, and working capital trends.
• Observe director and ownership stability; currently held fully by a single director and shareholder, which concentrates control risk.
• Watch for timely filing of statutory returns and accounts as the company transitions from dormant to active status.