ECCLESIASTICA CELTICA LIMITED

1. Risk Rating: LOW The company exhibits a low overall risk profile driven by a highly liquid balance sheet, negligible liabilities, and a strong track record of regulatory compliance. While there is a consistent, multi-year decline in total reserves, the current cash position substantially covers all outstanding obligations, mitigating immediate solvency and liquidity concerns.

2. Key Concerns: * Persistent Decline in Reserves: Financial history shows a steady erosion of net assets and cash reserves, falling from approximately £44,274 in 2020 to £32,686 in 2024. Without an accompanying income and expenditure statement (which the directors have elected not to file), it is impossible to determine if this is a strategic drawdown of funds or a structural operating deficit. * Transparency and Financial Visibility: As a private company limited by guarantee utilizing the small companies regime, the entity has opted out of filing an income and expenditure account. This significantly limits visibility into operational performance, revenue sources, and expense ratios. * Director Discrepancies: The latest filed accounts are signed by directors "B Xxxxxxxname shown to subscribers" and "L Xxxxxxxname shown to subscribers". However, the current officer list records "Xxxxxx Xxxxxxxxname shown to subscribers" as a director, with no mention of "L Xxxxxxxname shown to subscribers". This suggests recent board changes that may not be fully reflected across all records, or a potential administrative oversight.

3. Positive Indicators: * Exceptional Liquidity: The company holds £32,925 in cash against just £240 in current liabilities. This represents a current ratio well in excess of 100:1, indicating zero near-term liquidity risk. * Regulatory Compliance: The company is active, up to date with its filing requirements (accounts and confirmation statement are not overdue), and properly claims audit exemption under the small companies regime. * Absence of Debt: The balance sheet carries no borrowings, and liabilities are confined to minor "other creditors" (falling due within one year), meaning the organization faces no debt servicing burden.

4. Due Diligence Notes: * Sustainability of Operations: Investigate the underlying cause of the consistent year-on-year cash depletion. As a religious organization (SIC 94910) limited by guarantee, determine whether it relies on periodic donations or grants, and assess if the current burn rate is sustainable. * Board Composition: Clarify the current directorship. Confirm whether "L Xxxxxxxname shown to subscribers" has resigned and if "Xxxxxx Xxxxxxxxname shown to subscribers" was appointed subsequent to the 2024 year-end, ensuring Companies House records are updated accordingly. * PSC Register: The data indicates a "Persons with significant control statement" rather than named individuals. For a company limited by guarantee, this is common, but it is important to confirm that the legal requirements regarding PSC declarations are fully met and that no registrable persons are being omitted. * Tax Status: The accounts explicitly note the company is exempt from corporation tax as it does not carry on a business for profit. Any institutional engagement should verify that the organization's activities remain aligned with this tax-exempt purpose.

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