PFP WEALTH LIMITED

1. Risk Rating: LOW
From a pure solvency and compliance standpoint, PFP Wealth Limited currently presents a low risk profile: it is an active, non-trading dormant company with no liabilities, no overdue filings and no evidence of insolvency proceedings. However, this is not because the company is financially strong; it is because the company has no remaining economic activity or assets. The risk rating should therefore be viewed as “low credit risk in a dormant shell” rather than “low risk for an ongoing business.”

2. Key Concerns

• Business Transferred and Company Now Dormant
  The latest accounts state that during the year ended 30 September 2025, the business was transferred to the parent company, PFP Wealth Group Ltd. The company now files dormant accounts with nil shareholders’ funds. An investor seeking an operating insurance broking business would find no current trading activity here.

• Significant and Unexplained Reduction in Net Assets
  Net assets were £533,647 at 30 September 2021, but fell to £0 by 30 September 2022 and have remained at £0 since. The available accounts do not explain this movement. Possible causes include a disposal, dividend, intra-group transfer or restructuring, but this needs to be evidenced clearly. Without explanation, this remains a material gap in the financial history.

• Regulatory and Administrative Ambiguity
  The company’s SIC code (66220) and website indicate insurance and financial planning activity, which is generally a regulated sector in the UK. There is no information on whether FCA permissions remain in place, have been transferred to the parent, or have been surrendered. Also, the latest filed accounts show a different registered office (Unit 8 Paragon Business Park, Red Hall Court, Wakefield, WF1 2UY) from the current Companies House record (Unit 2a Wakefield 41 Business Park, South Park Way, Wakefield, WF2 0XJ). This type of inconsistency is usually minor, but it warrants reconciliation.

3. Positive Indicators

• No Overdue Filings
  Both accounts and confirmation statement are up to date, with the next deadlines clearly ahead. This indicates basic administrative compliance.

• No Signs of Insolvency or Distress
  The company is not in liquidation, administration or receivership. The transfer of business to a parent company suggests an orderly group restructuring rather than an external failure.

• No Legacy Liabilities in Latest Positions
  The dormant balance sheet shows no assets or liabilities. Provided there are no off-balance-sheet items such as guarantees or contingent liabilities, there is currently no creditor exposure.

• Established History
  The company has been incorporated since 2013 and previously held meaningful net assets. Its earlier financial history shows recovery from negative reserves to a positive position by 2018.

4. Due Diligence Notes

• Obtain the accounts and financial statements of PFP Wealth Group Ltd to understand the transfer terms, including any consideration paid, intercompany balances, and whether any liabilities or guarantees were retained by PFP Wealth Limited.
• Request a clear explanation for the 2022 reduction in net assets from £533,647 to £0. Board minutes, sale agreements, dividend documentation or restructuring papers would help.
• Verify the company’s FCA authorisation status. Confirm whether any regulated activities remain, whether permissions have been transferred to the parent, and whether any client money or client assets are still held.
• Investigate whether there are any charges, guarantees, indemnities or contingent liabilities that are not visible from the dormant accounts.
• Reconcile the registered office discrepancy between the latest accounts and the current Companies House record.
• Confirm current PSC and shareholding arrangements, particularly any changes following the transfer of the business.

The available data is limited because the company now files dormant accounts. My conclusions are therefore based on the most recent filings and should be treated as provisional until the parent company position and transfer documentation are reviewed.