Company Number: 13528450

Analysis Date: 2025-07-20 15:40 UTC

1. Risk Rating: HIGH
   Justification: Stepack-X Ltd is a dormant company with minimal financial activity, reflected in consistently low cash balances (£100) and negligible net assets over multiple years. The absence of trading or operational data, combined with no employees and no revenue generation, poses significant risk regarding solvency and operational sustainability.

2. Key Concerns:

• Dormant Status with Minimal Assets: The company holds only £100 in cash and net assets, indicating no operational business or revenue to meet any liabilities beyond this trivial amount.
• Lack of Operational Activity: No employees, no income statement filed, and no indication of business transactions or trading activity since incorporation. This suggests the absence of business operations or revenue streams.
• Single Director and Shareholder: Control is concentrated in one individual (Michael John Stephens), increasing governance risk and potential lack of oversight or independent management.

3. Positive Indicators:

• Current and Confirmation Filings Up to Date: The company has filed its dormant accounts and confirmation statements on time, showing compliance with regulatory filing requirements.
• No Overdue Filings or Penalties: There are no overdue accounts or confirmation statements, which reduces the risk of immediate regulatory enforcement action.
• Clear Ownership and Control Structure: Ownership and control are transparent, with a single known individual as PSC, simplifying accountability.

4. Due Diligence Notes:

• Investigate the purpose of maintaining this dormant company and any future business plans or triggers for activating operations.
• Confirm there are no undisclosed liabilities, contingent obligations, or off-balance sheet risks not reflected in dormant accounts.
• Review director’s background for any prior business conduct or financial history that might impact risk assessment.
• Examine any related entities or group structures that may be operational or financially active to understand the broader context.