DIAMEDICAL LTD

1. Risk Rating: LOW The company presents a LOW risk profile strictly based on its financial and filing status. It has been officially classified as dormant since incorporation, carries no debt, and maintains full compliance with Companies House filing requirements. However, this low financial risk is paired with a complete absence of operational business activity.

2. Key Concerns: * Prolonged Inactivity: The company has been incorporated for nearly 20 years (since September 2005) but has never traded, according to the filed accounts tag "EntityHasNeverTraded". This raises questions about the vehicle's purpose and whether it is a shell company or simply an unused entity. * Mismatch Between SIC Code and Activity: The registered SIC code is 46180 (Agents specialized in the sale of other particular products), which implies active wholesale/agency operations. This directly contradicts the dormant status and lack of trading activity, creating uncertainty about the company's intended or actual business model. * Virtual Office/Corporate Infrastructure: The registered address (Suite 602 10 Great Russell Street, London) and the use of a corporate secretary (ATM SECRETARIES LIMITED) are common features of non-trading or shell entities. This suggests a lack of physical operational footprint, which would be a concern for an investor looking for an active operating business.

3. Positive Indicators: * Regulatory Compliance: The company is fully up to date with its statutory filings. Accounts are made up to 30 September 2025 and are not overdue, nor is the confirmation statement overdue. * Clean Balance Sheet: Net assets and shareholder funds stand at a stable £3, consisting entirely of unpaid share capital. There are no recorded liabilities, debts, or historical trading losses. * Transparency of Ownership: The Persons with Significant Control (PSC) register is clear, identifying Xxxxxx Xxxxxxxxname shown to subscribers as the individual with significant influence or control.

4. Due Diligence Notes: * Investigate Purpose and Intent: Clarify with management or the PSC why this entity has been maintained in a dormant state for two decades and whether there are plans to activate it in line with its SIC code. * Verify PSC and Director Relationship: Understand the relationship between the sole director (Xxxxxx Xxxxxxxxname shown to subscribers) and the PSC (Xxxxxx Xxxxxxxxname shown to subscribers), as well as the nature of Xxxxxx Xxxxxxxxname shown to subscribers's "significant influence or control." * Assess Physical Presence: Confirm the nature of the operations at the registered London address, as "Suite 602" strongly suggests a virtual office or mail forwarding service rather than a trading premises. * Review Unpaid Capital: Note that the £3 in net assets represents "Called up share capital not paid." Verify that this nominal amount has been settled by the shareholders if any transactional activity is planned.

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