PASPV LIMITED

Based on the provided company data, PASPV Limited presents as a dormant, non-trading entity with a proposal to strike off. Financial visibility is limited because only dormant filing status is available, and no detailed balance sheet or profit and loss data is provided.

1. Risk Rating

HIGH

Justification: The company is dormant, has nominal share capital of £1, and is subject to a proposal to strike off. These factors indicate imminent dissolution risk and no identifiable operating business or financial substance. Although filings are not currently overdue and no formal insolvency process is recorded, the strike-off proposal is a material red flag for any investor.

2. Key Concerns

1. Proposal to Strike Off: The status “Active – Proposal to Strike off” indicates the company may be dissolved. If dissolution proceeds, shares could be cancelled or become worthless, and any residual assets may vest in the Crown.
2. Dormant and Non-Trading: SIC codes 74990 (Non-trading company) and 99999 (Dormant Company), combined with dormant accounts and £1 share capital, show no operational activity, revenue, or financial scale. Solvency and liquidity cannot be meaningfully assessed from the available data.
3. Recent Governance Changes: A director and secretary resigned in 2026, while two current directors and a current secretary remain. The corporate PSC, Partnership Life Assurance Company Limited, holds over 75% of shares and voting rights and can appoint/remove directors. This suggests possible group restructuring, but the rationale is not disclosed.

3. Positive Indicators

• Filings Not Overdue: Accounts and confirmation statement are recorded as not overdue, suggesting recent compliance with Companies House filing deadlines.
• No Insolvency Proceedings: The company is not in liquidation, administration, or receivership, based on the available status data.
• Corporate Oversight: A corporate PSC with majority control may provide governance oversight or support, though no guarantee of financial backing is evident.
• Longevity: Incorporated in 2012, the entity has existed for over a decade, although its dormant status limits the relevance of this point.

4. Due Diligence Notes

• Clarify Strike-Off Basis: Determine whether the strike-off proposal is voluntary (e.g., group simplification) or compulsory (e.g., compliance failure). Review Gazette notices and Companies House filings.
• Obtain Full Accounts: Request the latest dormant accounts and any previous filings to confirm absence of assets, liabilities, or contingent obligations.
• Investigate Group Structure: Understand Partnership Life Assurance Company Limited’s role, ultimate beneficial owners, and whether any guarantees, cross-support, or intercompany balances exist.
• Review Officer Changes: Establish reasons for the 2026 resignations and appointments; check for any governance disputes or compliance concerns.
• Check for Hidden Liabilities: Verify with HMRC, VAT records, and charges register for outstanding debts, tax liabilities, or secured creditors.
• Monitor Dissolution Progress: Track Companies House updates for strike-off action, final accounts, and dissolution date.
• Note Data Anomalies: The confirmation statement “last made up” date appears future-dated relative to the current date, so filing dates should be verified directly.