Company Number: SC733507

Analysis Date: 2025-07-29 12:32 UTC

1. Risk Rating: MEDIUM
   Rustom Holdings Limited demonstrates some financial strain with net liabilities and negative shareholders' funds, though the company is still operational with no overdue filings. The absence of audit requirements and a micro-entity reporting framework limit transparency.

2. Key Concerns:

• Negative Net Assets / Shareholders' Funds: The company reports net liabilities of £4,620 consistently, indicating that total liabilities exceed assets, which poses solvency concerns.
• No Current Assets or Working Capital: Net current assets are nil or negative, suggesting limited liquidity to meet short-term obligations. Current liabilities stand at £531,222 with no corresponding current assets disclosed.
• No Employees or Operational Activity Disclosed: The company reports zero employees and minimal narrative on trading activity, raising questions about operational sustainability and revenue generation.

3. Positive Indicators:

• Fixed Assets Held: The company holds fixed assets valued at £527,102, which may represent tangible or investment property that could support future income or be liquidated if needed.
• Timely Compliance: Accounts and confirmation statements are filed on time with no overdue filings, indicating regulatory compliance and responsible governance.
• Clear Ownership Structure: The ownership and control are transparent, with three PSCs well documented, reducing governance risk.

4. Due Diligence Notes:

• Verify the nature and valuation of the fixed assets to assess realizable value and liquidity potential.
• Review any intercompany loans or related party transactions, especially given the major shareholder is another company (Rustom Restaurant Ltd).
• Investigate the company’s business model and revenue streams, as no employees and minimal disclosures suggest limited operational activity.
• Confirm absence of contingent liabilities or off-balance sheet obligations that could exacerbate solvency risk.
• Assess cash flow statements if available, to understand liquidity dynamics beyond balance sheet snapshots.