Company Number: 13210997

Analysis Date: 2025-07-29 15:13 UTC

1. Risk Rating: HIGH
   The company demonstrates very minimal financial activity and capital, with total assets and shareholders' funds consistently at £100 over multiple years. This extremely low capital base and absence of employees indicate significant risk concerning solvency and operational sustainability.

2. Key Concerns:

• Minimal Financial Resources: The company holds current assets and net assets of only £100, insufficient to meet any meaningful liabilities or operational costs.
• No Operating Employees: The average number of employees is nil for the latest year, suggesting no ongoing business activity or operational capacity.
• Lack of Financial Activity: The company is categorized as a micro-entity with no turnover or profit data disclosed, indicating no trading or income generation.

3. Positive Indicators:

• Compliance with Filing Requirements: The company has filed accounts and confirmation statements on time, showing regulatory compliance.
• Active Status: The company is currently active and not in liquidation or administration.
• Clear Ownership and Control: PSC register is up to date with identifiable persons controlling the company, reflecting transparent governance structure.

4. Due Diligence Notes:

• Investigate the nature of the company's business activities given the SIC code (64304 - activities of open-ended investment companies) and lack of turnover or assets.
• Confirm whether the company is dormant or truly operational beyond holding minimal capital.
• Review any off-balance sheet arrangements or related party transactions that might not be disclosed in the filings.
• Assess the background and financial capacity of the controlling persons and the related entity Msh (Derbyshire) Limited, which holds majority control.
• Verify whether the company has any contingent liabilities or upcoming financial obligations not reflected in the micro-entity accounts.