STORM PROCUREMENT LIMITED

1. Risk Rating: MEDIUM

Justification: While STORM PROCUREMENT LIMITED demonstrates a long operating history and current administrative compliance, the assessment is elevated to Medium due to the complete absence of financial data necessary to evaluate solvency and liquidity. Furthermore, the extremely low share capital relative to the company's "global" operational claims, combined with an overlapping and opaque Persons with Significant Control (PSC) structure, introduces material uncertainties regarding financial resilience and true ownership transparency.

2. Key Concerns:

• Overlapping PSC Ownership Thresholds: The PSC register presents a mathematical anomaly. Storm Technologies Group Limited owns 50-75% of shares, Mr. John Robert Brooker owns 50-75%, and Mr. Paul James Alexander owns 25-50%. These thresholds cannot logically coexist on a single class of shares as they cumulatively exceed 100%. This ambiguity raises immediate concerns about the accuracy of the statutory PSC register and the true distribution of control and voting rights.
• Minimal Share Capital: The issued share capital stands at just £4,571. For a company claiming to be a "global procurement service provider" operating across the Energy, Engineering, Mining, and Construction industries, this capital base is negligible. It suggests the company is likely trading while thinly capitalized, relying heavily on inter-company funding (given the group structure) or external debt, which inherently increases liquidity and solvency risks.
• Lack of Verifiable Financial Metrics: There is no historical or current financial data provided (e.g., current assets, net current assets, net assets, P&L reserves). Without this, it is impossible to objectively assess the company's working capital position, its ability to meet short-term liabilities, or its overall financial viability.

3. Positive Indicators:

• Longevity and Active Status: Incorporated in 2006, the company has an 18-year operating history. Surviving multiple economic cycles suggests a degree of operational stability and a sustainable business model.
• Regulatory Compliance: The company is not in liquidation, and both its accounts and confirmation statements are listed as not overdue. This indicates that basic administrative and statutory filing requirements are being met, reducing immediate regulatory risk.
• Structured Governance: The board consists of multiple directors and a dedicated company secretary. This level of officer structure is typically indicative of more mature governance practices than a minimal "shell" operation, and aligns with the company's status as part of a larger corporate group.

4. Due Diligence Notes:

• Obtain and Analyze Financial Statements: Secure the full filed accounts to assess net current assets and overall solvency. Pay particular attention to the balance sheet to determine if the low share capital is offset by substantial retained profits (P&L reserve) or if the company is operating with negative equity and relying on group guarantees/loans.
• Clarify PSC Structure: Investigate the share structure directly with the company or via the statutory books to resolve the conflicting PSC thresholds. Determine if there are multiple share classes with different voting rights that explain the current declarations, or if the PSC register is simply non-compliant.
• Assess the Parent Entity: As Storm Technologies Group Limited holds the right to appoint/remove directors and owns a controlling stake, the financial health of STORM PROCUREMENT LIMITED is likely inextricably linked to its parent. A full risk assessment requires analyzing the consolidated group accounts and the parent company's financial stability.
• Reconcile SIC Code: The registered SIC code (9900 - Support activities for other mining and quarrying) should be cross-referenced with actual revenue streams. While the website mentions mining, it also references Energy, Engineering, and Construction. Ensure that the company's activities have not drifted significantly from its registered classification, which can sometimes indicate undisclosed pivot in operations.